December 2019 Real Estate Update, Year Ends With a Big Bang

The December 2019 Real Estate Update for Bonita Springs and Estero show sales of both single family homes and condos rose significantly in December compared to the same time last year. Single family home sales were up 20 percent over last year and condo sales were up a whopping 56.6 percent! Additionally, pending sales saw similar activity with single family pending sales up 48.3 percent and condos up 25.4 percent.

While the year-end with a big bang in sales and pending sales, the downside is it put a dent in inventory.  Most notable was the significant decrease in inventory of condos for sale which was down  30.6 percent compared to last December. Also, single family inventory showed an 11.6 percent decrease during the same time period. The large increase in closed and pending sales is an indication buyers are starting their home purchase process earlier than past years. And, season has yet to start.

Despite the decrease in inventory of single family homes, there is still a 6 month supply of homes for sale in Bonita Springs and Estero. Since inventory remains in the healthy range (6-7 months supply) both buyers should be able to find plenty to chose from while sellers should anticipate a normal selling cycle. However, condo inventory is tight with only a 4.9 month supply of condos for sale. 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.

December 2019 Real Estate Update – Single Family Homes

December 2019 Real Estate Highlights for Single Family Homes

• Closed sales increased 20 percent from 80 up to 96 homes sold
• Inventory decreased 11.6 percent down to 578 compared to December of last year when 654 homes were for sale
• Median days to sale fell to 102 days which represented a 33.3 percent decrease versus last year
• Median days to contract went down to 61 days from 88 days which was a 33.3 percent decline
• Median sales price decreased slightly from $397,500 down to $387,250 or a 2.6 percent decrease
• Total months’ supply of inventory fell to 6 months supply of inventory compared to 6.6 months in Dec. of 2018

December 2019 Real Estate Update –  Condos

December 2019 Real Estate Sales Highlights for Condos

• Closed sales increased 56.5 percent up from 62 to 97 condos sold
• Inventory decreased 30.6 percent down to 442 compared to December of last year when 637 condos were for sale
• Median days to sale was unchanged at 92 days during both December 2019 and 2018
• Median days to contract decreased to 61 days down from 67 days which represents a 9 percent decrease
• Median sales price decreased slightly from $270,450 down to $252,800 or a 6.5 percent decrease
• Total months’ supply of inventory fell from 7.2 down to 4.9 months supply of condos currently for sale

Overall, sales and pending sales were strong for the month of December. Unlike the single family home market, pending inventory rose 38.8 percent which is good news for buyers. The good news is 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 this 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 December 2019 Monthly Market Report

Bonita Springs Monthly Market Data Report for December 2019

Luxury Golf Community Real Estate Trends

Naples Year End Market Report