October 2019 Real Estate Overview
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.
Begin Your Bonita Springs or Estero Property Search
So, if you’re ready to begin your search for your southwest Florida Luxury home or condo, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the more than 150 different golf communities in our area. If you prefer a more direct approach, we 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 for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations for your property from offer to close!
Considering Selling Your Home?
If you are looking to sell a home in Bonita Springs, Estero, Naples or Fort Myers we recommend you work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.
If you’re looking for a focused and goal-oriented Realtor in southwest Florida who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, luxury home, vacation home, golf home or dream home, call or text us at 239-370-0892 or email Matt@NaplesGolfGuy.com
About Naples Golf Guy
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November 25th, 2019 Posted by NaplesGolfGuy