Bonita and Estero Home Sales Rise – November 2019 Real Estate Update

The November 2019 Real Estate Update for Bonita Springs and Estero show sales of both single family homes and condos rose in November of this year compared to the same time last year. Additionally, pending sales for all property types rose by double digits. Most notable was the significant increase in pending sales of condos which was up 32.8 percent compared to last November. Also, single family pending sales showed a 10 percent increase during the same time period. The increase in pending sales is an indication buyers are starting their home purchase process early this year as season has yet to start.

The increase in both closed sales and pending sales did have an impact on inventory which is down. While single family home inventory remains in the healthy range (6-7 months supply), condo inventory is tight. So if you are considering selling a condo in Bonita Springs or Estero, now is the time to since it’s a seller’s market and if you price the property correctly you will maximize the value of your home sale. If you are buying a condo, be prepared there will probably be less room for negotiation due to the low supply right now which puts sellers in the drivers seat.

On the other hand, if you are purchasing a single family home, you should see a pretty fair price for the home you buy or sell based on current inventory levels. As we head into season, we anticipate there will be more inventory added to the market. So if you’re a seller, the sooner you list your home the better. For buyers struggling to find the right property, you should see more options come January as inventory typically increases significantly during the wintertime period.

November 2019 Real Estate Update – Single Family Homes

November 2019 Real Estate Highlights for Single Family Homes

• Closed sales increased 10 percent from 80 down to 88 homes sold
• Inventory decreased 6.2 percent down to 576 compared to November of last year when 614 homes were for sale
• Median days to sale fell to 108 days which represented a 6.9 percent decrease versus last year
• Median days to contract went down to 61 days from 73 days which was a 16.4 percent decline
• Median sales price decreased slightly from $360,000 down to $352,000 or a 2.4 percent decrease
• Total months’ supply of inventory remained the same at 6.1 months supply of inventory

November 2019 Real Estate Update –  Condos

November 2019 Real Estate Sales Highlights for Condos

• Closed sales increased 3.3 percent up from 61 to 63 condos sold
• Inventory decreased 23.1 percent down to 444 compared to November of last year when 577 condos were for sale
• Median days to sale fell 16.2 percent down to 98 days compared to 117 during 2018
• Median days to contract decreased to 54 days down from 91 days which represents a 40.7 percent decrease
• Median sales price decreased slightly from $259,500 down to $256,000 or a 1.3 percent decrease
• Total months’ supply of inventory fell from 6.5 down to 5.1 months supply of condos currently for sale

Overall, sales and pending sales were strong for the month of November. All indications including showings, pending new inventory and the number of people in town lead us to believe it will be a very busy first quarter next year. For more information about homes for sale in Bonita Springs or Estero, contact us at 239-370-0892.

More Information About Southwest Florida Real Estate Trends

Bonita Springs Estero November 2019 Monthly Market Report

Bonita Springs Monthly Market Data Report for November 2019

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