Bonita Springs And Estero February Sales Report

The Latest Bonita Springs And Estero February Sales Report for Real Estate showed similar activity as last year for both single family homes and condos according to the Bonita Springs-Estero Association of Realtors (BEAR). Overall, for both single family homes and condos, both pending sales and the median sales price increased in February of this year compared to February of last year. Closed sales were down slightly during the same time period.

Similarly, for the past twelve months ending in February 2018, real estate activity in Bonita Springs and Estero was consistent with the same time period during the previous year. During the 12 month time period, both pending sales and the median closed sales price decreased slightly, however, closed sales increased slightly.

A key factor affecting the median closed sales price is the property’s condition. For homes which have been renovated within the last three years, prices are significantly higher. Also, those recently renovated homes are competing against new construction homes which are selling quickly. Sellers should be aware, buyers are primarily looking for homes which have updated bathrooms and kitchens.

Homeowners who have outdated properties currently listed may need to re-evaluate pricing if showings are low or non-existent. New construction offers updated styles, however, buyers are still urged to work with a REALTOR® to ensure the best possible outcome in a new build transaction. You may or may not be aware of all the areas which are negotiable, and the good news is the builder pays the REALTOR® commission.

Bonita Springs and Estero February Sales Report for Single-Family Homes:

February 2017 versus February 2018 Highlights – Single Family Homes

Closed Sales remained the same as February of last year with 78 homes sold
Pending Sales increased slightly from 115 to 116 or just under 1 percent
Median Sales price fell 4.9 percent from $410,000 up to $390,000
New Listings increased 26 percent from 150 last year up to 189 this February
Overall, inventory increased 5.3 percent versus February last year, down from 696 to 661 homes available

Ultimately, closed sales for single family homes during the month of February stayed exactly the same as last February. Additionally, pending sales only increased 1 percent during the same time. Also, unlike January, there was a significant increase in inventory, 26 percent, of single family homes. So, the good news is, buyers have more properties to chose from if they are looking for a single-family home.

Bonita Springs and Estero February Condo Sales Report

February 2017 versus February 2018 Highlights – Condos

Closed Sales increased 13.9 percent up from 79 homes sold in Feb. 2017 to 90 homes sold this year
Pending sales in February increased from 103 to 125 which is a 21.4 percent increase
Median Sales price decreased 5.3 percent from $260,000 down to $246,250 during the same time
New Listings increased 19 percent from 142 last year up to 169 this February
Inventory increased 5.9 percent versus February last year, up from 575 to 609 condos on the market

Overall, condo sales in the Bonita Springs increased in February, up 13.9 percent compared to the same month last year. Similarly, pending sales saw a significant increase, up 21.4 percent during the same time period. However, both the average price and median sales price decreased slightly during this February. For buyers, the good news is inventory rose 5.9 percent which means there are more condos to chose from and prices have dropped slightly which makes now a perfect time to buy a condo.

Finally, since we are at the height of season, activity has increased substantially. Buyer traffic has skyrocketed over the past month and analysts continue to predict a very active season this year. Although a majority of homebuyers are paying cash, for those using a mortgage, rates continue to remain at historic lows. Either way, it is a great time to consider purchasing a home or condo in Southwest Florida.

Bonita Springs And Estero February Sales Report Related Articles:

New construction on single-family housing increases in February

Buying a Property – Begin Your Own Property Search:

So, if you’re ready to begin your property search for your dream home or condo, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

Bottom Line:

If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between golf communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the SWFL golf communities.

If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

Lastly, I will handle all contract negotiations for your property from offer to close!