September 2019 Real Estate Overview
September 2019 Real Estate Overview- Bonita Springs and Estero
The September 2019 Real Estate Overview for Bonita Springs and Estero show sales increased for both single-family homes and condos by double digits this September compared to last September. At the same time, inventory continued to decrease during the same time period. However, unlike the previous month, new listings increased for both for condos and single-family homes. This was expected as we approach season.
Most notable for the month was the significant increase in the number of days to contract and days to sell. Single family homes took 170 days to sell which was a 100 percent increase over the same time last year. Condos sales were in a similar situation, as it took 151 days to sell during the month. Clearly, is you are selling a home, you’ll need to be prepared it will 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. Since a healthy supply of inventory is typically 6-7 months. Since Bonita Springs and Ester have less than 5 months worth of supply of condos and less than 6 months of supply for single family homes, 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.
September 2019 Real Estate Overview – Single Family Homes
September 2019 Real Estates Highlights for Single Family Homes
- Closed sales increased 18.9 percent from 74 up to 88 homes sold
- Inventory decreased 8.9 percent down to 483 compared to September of last year when 530 homes were for sale
- Median days to sale increased to 170 days which represented a 100 percent increase versus last year
- Median days to contract went up to 120 days from 38 days which was a 215.8 percent increase
- Median sales price increased from $326,500 up to $342,500 or a 4.9 percent increase
- Total months’ supply of inventory fell 5.6 percent down to 5.1 months supply of inventory
September Bonita Springs – Estero Real Estate Overview – Condos
September 2019 Real Estate Sales Highlights for Condos
- Closed sales increased 14.5 percent up from 55 up to 63 condos sold
- Inventory decreased 6.7 percent down to 401 compared to September of last year when 430 condos were for sale
- Median days to sale went up 26.9 percent up to 151 days compared to 119 during 2018
- Median days to contract increased to 105 days up from 77 days which represents a 36.4 percent increase
- Median sales price increased from $230,200 up to $249,000 or an 8.2 percent increase
- Total months’ supply of inventory fell from 4.8 down to 4.6 months supply of condos currently for sale
Luxury Real Estate in Bonita Springs and Estero
The bright spot for the luxury market was properties priced over $2,000,000 where we saw a 23.1 percent increase in sales. Additionally, homes priced between $1,000,000 to $2,000,000 saw a 9.2 percent increase in sales. Overall, inventory for homes priced above $2,000,000 fell 12.3 percent and homes priced between $1,000,000 and $2,000,000 fell 33.3 percent.
So, as we head into the last three months of the year, buyers will find fewer homes coming on the market, yet at the same time, there will be less competition for those homes. According to industry analysts, market fundamentals suggest no significant changes from recent trends.
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
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October 27th, 2019 Posted by NaplesGolfGuy