South Lee County July Home Sales, Markets Divided

The latest July Home Sales report for Estero and Bonita Springs shows a significant difference in activity for condos compared to single-family homes. The condo market, in particular, saw a major increase in sales which were up 24 percent compared to July of last year. On the flip side, single-family home sales fell 10.5 percent. The good news is overall closed sales of both condos and single-family homes rose 3 percent versus July of 2018.

Also, the median timeframe from listing a home or condo for sale until a contract was signed decreased by double digits which means homes are going to contract quicker. Unfortunately, inventory is tight and fell down below 5 percent for single family homes and condo inventory is just above 5 percent.

So, overall inventory levels for both condos and single-family homes remains well below 6 percent. The National Association of Realtors considers a healthy market one in which the inventory levels are between 6-7 months worth of supply. Therefore, it is a seller’s market right now. So if you currently own property in Bonita Springs or Estero, now is a good time to list your property.  With less inventory, there will be less competition.

If you are a buyer, there’s going to be less room for negotiation. As we approach season in southwest Florida, history tells us we should start to see an influx of properties added to the market which will give buyers options.

July Homes Sales for Estero and Bonita Springs – Single Family Homes

July Homes Sales Highlights for Single Family Homes

• Closed sales decreased 10.5 percent from 105 down to 94 homes sold
• Inventory decreased 8.7 percent down to 494 compared to July of last year when 541 homes were for sale
• Median days to sale decreased to 114 days which represented an 8.1 percent decrease versus last year
• Median sales price decreased from $367,500 down to $348,250 or a 5.2 percent drop
• Total months’ supply of inventory fell 10.3 percent down to 5.2 months supply of inventory

July Homes Sales for Estero and Bonita Springs –  Condos

July Homes Sales Highlights for Condos

• Closed sales increased 24.2 percent up from 66 to 82 condos sold
• Inventory decreased less than 1 percent down to 405 to compared to July of last year when 406 condos were for sale
• Median days to contract decreased to 77 days which represented a 12.5 percent decline
• Median sales price increased from $224,250 down to $233,250 or a 4 percent improvement
• Total months’ supply of inventory remained the same at 4.7 months supply of condos currently for sale

More Information About Lee County July Home Sales

Bonita Springs Estero July Real Estate Report

Lee County Real Estate Transactions Week of July 13th

Lee County Real Estate Transactions Week of July 20th 2019

Lee County Real Estate Transactions Week of July 27th