September Housing Update
September Housing Update for Southwest Florida
The Southwest Florida September housing update for Bonita Springs and Estero showed a significant jump in closed sales activity for both single family homes and condos for the month of September. Overall closed sales increased more than 60 percent during the month compared to the same time last year. Also notable was the major increase in condos going to contract which increased 124 percent and single family pending sales which increased 58 percent.
Additionally, the supply of Southwest Florida homes for sale continues to fall and it remains a seller’s market. As a result, the low inventory is driving prices up in our area. If you are considering selling, now would be a good time to connect with a real estate professional to learn about your home’s value in today’s market.
September Housing Update – Single Family Homes
September 2020 versus September 2019 Single Family Home Highlights:
- Closed sales increased 60.2 percent going from 88 transactions up to 141 sales
- Pending sales increased 58.4 percent up from 101 last September versus 160 this September
- Inventory fell 18 percent down to 396 properties for sale compared to this same time last year when there were 483 homes for sale
- New listings increased from 136 up to 184 which is a 35.3 percent increase
- Median days on market decreased to 40 days which is a 66.7 percent decrease versus September 2019
- Available inventory of single family homes ended September with a 3.6 months supply of homes available for sale which is a 29.4 percent decrease
Activity over the past three months has been record setting. The Bonita Springs and Estero are saw an explosion of single family homes closing and going to contract. Also, there was a significant decrease in the number of from when a property was listed until it went under contract. Buyers should be prepared to make an offer quickly if they see a property they are interested in purchasing. Not only are properties going to contract quickly, there are often multiple offers being submitted at the same time.
Also, although there has been an increase in the number of new listings, it is not enough to keep up with the closed sales which continues to deplete the available inventory. For 6 consecutive months, inventory has declined each month to a point we only have a 3.6 months’ supply of single family homes for sale. Typically, a healthy level of inventory is considered to be 6 to 7 months’ supply of homes for sale.
Bottom line, it a seller’s market. If you are considering selling a home, now is a great time to maximize the value of your home.
Southwest Florida September Housing Update – Condos and Townhomes
September 2020 versus September 2019 Condo Highlights:
- Condo sales increased 60.3 percent going from 63 real estate transactions up to 101 sales
- Pending sales increased 124.2 percent up from 62 last August versus 139 this August
- Inventory decreased 0.7 percent down to 398 condos for sale compared to this same time last year when there were 401 units for sale
- New listings increased from 114 up to 153 which is a 34.2 percent increase
- Median days on the market decreased to 44 days which is a 58.1 percent decrease versus September 2019
- Available inventory of condos ended September with a 4.3 months supply of properties available for sale which was a 6.5 percent decrease
Similar to single family homes, condos going to contract increased significantly during September. Additionally, the number of condos that closed doubled over the previous month, increasing 60 percent. On the bright side, new listings to the market increase increased more than 34 percent. Yet, the additional condos for sale is just not enough to keep up with buyer demand. And with only 4.3 months’ supply of condos for sale, it means it is still a sellers’ market.
Ultimately, homebuyers are looking for larger homes in a gated community. With the flexibility to work from anywhere, many families are looking for single family homes with plenty of space for a home office, home fitness, home schooling and plenty of room for the whole family. Also, there is a significant increase in buyers looking for a second home or vacation home in a warm, sunny climate to spend the winter.
If you are ready to make a move to Southwest Florida, let’s connect to discuss your real estate needs.
Begin Searching for Luxury Homes for Sale in Southwest Florida:
So, if you’re ready to begin your search for properties for sale in a gated golf community in Southwest Florida, we encourage you to explore our website to find information. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the various golf communities to find the best golf homes available.
If you prefer a more direct approach, we will provide a list of golf homes that meet your criteria and/or communities that meet your needs. For more information about the best properties in private golf clubs in southwest Florida please reach out to us directly!
Find a Real Estate Expert Who Specializes in Golf Community Real Estate
Look for an agent who specializes in the type of community or properties you are interested in purchasing. If you are considering a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.
“Luxury Lifestyle” has different meanings for different people. What does it mean to you? Golf course communities in our area have enhanced their amenities to provide members with the ultimate luxury experience. From wellness centers to pickleball and everything in between. We will help you identify the best communities to visit.
Selling Your Home? Work with an Experienced Luxury Realtor
In today’s rapidly changing market, it’s critical to make sure you have a digital game plan and an effective online marketing strategy when selling your home, especially if you are selling a luxury home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.
So, if you’re ready to move forward, virtual practices we can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:
- Virtual tour of the home
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chat
- Paperless transactions
So, if you are contemplating selling a home in Bonita Springs, Estero, Naples or Fort Myers, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price.
Now more than ever, an agents presence on the internet is critical to selling your home. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.
Finally, 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.
Contact Matt: Matt@NaplesGolfGuy.com
October 25th, 2020, Posted by NaplesGolfGuy