Bonita Springs Property Sales On Fire

Bonita Springs Property Sales On Fire! According to the most recent data released by B.E.A.R (Bonita Springs-Estero Association of Realtors), overall closed sales increased more than 35 percent year-over-year for single family homes. And, condo sales increased by almost 40 percent. Also, inventory increased slightly for single family homes and went up double digits for condos. Additionally, there were 278 price reductions on single family homes and condos during the month of June. The result, there is a strong indication sellers are pricing their homes to meet market conditions.

Additionally, there’s been a significant increase in new construction throughout both Lee and Collier counties. In total, there are more than 70 new communities. Unlike many area, there is no cost to you to use an agent to represent you for new construction. In fact, an experienced agent will save you money since they will know what additional options are negotiable within a community. A builder’s agent is going to represent the builder and will be looking our for the builders best interest, not necessarily yours.

Bonita Springs and Estero Single Family Market Data – June 2017

Year-Over-Year June Highlights for Single Family Homes:

Closed Sales increased from 87 in June of 2016 up to 118 in June of 2017 which is a 35.6 percent increase
Pending Sales decreased 1.2 percent down from 86 to 85 compared to June of last year
Inventory increased slightly from 508 homes up to 521 during June which is a 2.6 percent increase
Average sales price increased from $477,559 up to $519,768 which is a 8.8 percent increase
New Listings decreased by 4.9 percent falling from 117 down to 112 for the month

So, for single family home sales in the area, the activity continues to heat up with a significant increase in property sales based on the data above. Similar to last month, inventory continues to decrease and the number of new homes being listed continues to decrease. The result, lack of inventory is driving prices up. Thus, if you’re considering buying a single family home, now is the time to purchase. Ultimately, since there appears to be no end in sight to the limited inventory, prices are continuing their upward trend. And, if you are thinking of selling, now is a great time to put your home on the market as the closed sales price for single family homes continue to rise.

Bonita Springs and Estero Condo Market Data – June 2017

Year-Over-Year June Highlights for Condos:

Closed Sales increased from 71 in June of 2016 up to 88 in June of 2017 which is a 23.9 percent increase
Pending Sales increased 34.5 percent up from 58 to 78 compared to June of last year
Inventory increased from 392 condos up to 469 during June which is a 19.6 percent increase
Average sales price fell from $331,794 down to $283,905 which is a 14.4 decrease
New Listings increased slightly by 2.5 percent up from 79 to 81 for the month

Similar to single family home sales, condo sales increased by double digits during the month of June compared to the same time last year. Also, inventory increased for both condos and single family homes. However, the increase in condo inventory was almost 20 percent whereas the increase for single family homes was just under 3 percent. Ultimately, it means there are significantly more condos to chose from than last year. Similar to last month, as more properties come on to the market, homeowners will need to become more flexible to compete with their neighbors who are also selling their units. And, as we’ve seen over the past month, sellers will continue to lower their prices or be more willing to negotiate. If you are considering a condo purchase, you couldn’t pick a better time.

Additional Articles:

June 2017 Florida Realtor Market Report

June 2017 BEAR Market Report

June 2017 Housing Affordability Index

Begin Your Own Bonita-Estero Property Search:

So, if you are ready to begin your own property search, I encourage you to explore this website to find information about communities in Southwest Florida. If you are a golfer, I specialize in golf community real estate and would be happy to help you navigate over 100 different golf communities to get you started. Or, I you would rather, I will provide a list of properties that meet your criteria.

Bottom Line:

Finally, if you are buying a home in a golf community, you will find it is more complex than a normal home purchase. As you can probably imagine, there is a significant difference between golf courses. Also, there are hidden fees, different membership fees, pet restrictions and very different demographics in each community.

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

So, if you are looking for information about a specific community in Bonita Springs, Estero or Naples, contact me and I will prepare a custom market report for you. Most importantly, I can provide the market information and insights to help make sure you select your dream home.

Lastly, I will handle all of the contract negotiations for your property from the first offer to close.