October 2019 Real Estate Overview- Bonita Springs and Estero

The October 2019 Real Estate Overview for Bonita Springs and Estero show sales decreased for both single-family homes and condos by double digits for the month compared to last year. Also, inventory continued to decrease during the same time period. However, it’s clear buyers are back since pending sales increased for both single family homes and condos. In fact, pending condo sales rose substantially up 27.9 percent.

Once again, the most notable change for the month was the significant increase in the number of days to contract and days to sell. Single family homes took 162 days to sell which was a 48.6 percent increase over the same time last year. Condos sales were in a similar situation, as it took 146 days to sell. So if you are selling a home, be prepared it could take approximately 5 months to sell your property provided it’s priced appropriately.

Finally, the overall supply of homes for sale remains tight for both single family homes and condos. A healthy supply of inventory is typically 6-7 months. Since Bonita Springs and Estero have less than 6 months’ worth of supply of homes for sale, it remains a seller’s market. So if you are considering selling, now is a good time to put your home on the market. If you are a buyer, you will probably find sellers are less willing to negotiate.

October 2019 Real Estate Overview – Single Family Homes

October 2019 Real Estates Highlights for Single Family Homes

• Closed sales decreased 15.2 percent from 92 down to 78 homes sold
• Inventory decreased 7.2 percent down to 543 compared to October of last year when 585 homes were for sale
• Median days to sale increased to 162 days which represented a 48.6 percent increase versus last year
• Median days to contract went up to 118 days from 64 days which was an 84.4 percent increase
• Median sales price increased from $345,000 up to $376,555 or a 9.1 percent increase
• Total months’ supply of inventory remained the same at 5.8 months supply of inventory

October Bonita Springs – Estero Real Estate Overview –  Condos

October 2019 Real Estate Sales Highlights for Condos

• Closed sales decreased 12.3 percent down from 73 to 64 condos sold
• Inventory decreased 15.2 percent down to 431 compared to October of last year when 508 condos were for sale
• Median days to sale went up 35.2 percent up to 146 days compared to 108 during 2018
• Median days to contract increased to 98 days up from 68 days which represents a 44.1 percent increase
• Median sales price decreased from $235,000 down to $218,500 or a 7 percent decrease
• Total months’ supply of inventory fell from 5.7 down to 5.0 months supply of condos currently for sale

Luxury Real Estate in Bonita Springs and Estero

The bright spot for the luxury market was single family homes priced over $1,000,000 saw a 100 percent increase in sales. Luxury condo sales remained flat compared to the same time last year. Additionally, inventory of both luxury homes and condos increased by double digits. New Single family homes added to the market increased 26.1 percent and condos increased 33.3 percent.

More Information About Southwest Florida October Real Estate Trends

Bonita Springs Estero October 2019 Monthly Market Report

Bonita Springs Monthly Market Data Report for October 2019

Luxury Golf Community Real Estate Trends

Naples October Real Estate Trends