SWFL Single Family Home Sales Smoking Hot

According to the Bonita Springs-Estero REALTORS® latest market reports, SWFL Single Family Home Sales show significant increases for the month of May. Single family closed sales, pending sales and average prices were up double digits for the month. Additionally, inventory also saw a significant increase at 13.8 percent above the same month last year.

Most notably, a significant number of single family home purchases were paid for in cash. More than 70 percent of the single family homes sold in Bonita and Estero were cash sales. Activity remains very strong despite the fact that it is off-season. So, when I say the market is hotter than the temperature, I’m not kidding!

May 2018 Single Family Home Sales

Single Family Homebuyer Activity Highlights:

Closed sales increased 17.5 percent, up from 114 in May 2017 versus 134 in May 2018
Pending sales increased from 107 units up to 125 units or 16.8 percent
Average Sales Price went from $454,522 up to $559,248 which is a 23 percent increase
Inventory increased 13.8 percent from 529 single family homes in May ’17 up to 602 in May ’18
Days on Market fell from 142 days to 104 days which is a 26.8 decrease for the month

Even though inventory is increasing, the days on market continue to fall dramatically. The result is homes priced appropriately are being bought quickly and at higher prices. If you were waiting until summer for a good deal, you may not see the discounts you had anticipated. If you are considering buying a home, consider purchasing now. Prices are just going to continue to increase. And, if you are thinking about selling, start prepping your house now.

May 2018 Condo Sales

Condo Homebuyer Activity Highlights:

Closed sales decreased slightly, 1.7 percent, from 115 in May 2017 down to 113 in May 2018
Pending sales increased from 90 units up to 103 units or 14.4 percent
Median Sales Price went up from $250,000 up to $255,000 which is a 2 percent increase
Inventory decreased 2.5 percent from 525 condos in May ’17 down to 512 in May ’18
Days on Market fell from 125 days to 113 days which is a 9.6 percent decrease for the month

Unlike single family home sales for the month, condo closed sales in May were lower than last May. With the condo market cooling off a bit compared to single family homes in Bonita Springs and Estero, now would be an excellent time to purchase a property.

Bottom Line:

Currently, properties priced at fair market value continue to move quickly. Those properties overpriced remain on the market until they are re-priced. Sellers who are uncertain about listing now should reconsider as there is less competition during the summer months, but pricing is a key factor.

More SWFL April Real Estate News:

BEAR Market Report May 2018

May 2018 Market Report for Bonita Springs and Estero

May Florida Realtors Report for Single Family Homes and Condos

Begin Your Own Property Search:

So, if you’re ready to begin your search for your luxury dream home or condo, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.

Bottom Line:

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 to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

Lastly, I will handle all contract negotiations for your property from offer to close!