Southwest Florida Market Update

Latest Southwest Florida Market Update

The Southwest Florida Market Update for Bonita Springs and Estero once again shows a significant jump in pending sales for both single family homes and condos for the month of August. Single family homes going to contract increased by over 100 percent and condos increased almost 60 percent. Additionally, closed sales increased more than 30 percent for both single family homes and condominiums.

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.

Southwest Florida Market Update – Single Family Homes

August 2020 versus August 2019 Single Family Home Highlights:

Closed sales increased 35.6 percent going from 101 transactions up to 137 sales
Pending sales increased 103.3 percent up from 92 last August versus 187 this August
Inventory fell 26.5 percent down to 361 properties for sale compared to this same time last year when there were 491 homes for sale
New listings increased from 126 up to 161 which is a 27.8 percent increase
Median days on market decreased to 80 days which is a 27.3 percent decrease versus August 2019
Available inventory of single family homes ended August with a 3.4 months supply of homes available for sale which is a 34.6 percent decrease

Activity over the past two months has been record setting. The Bonita Springs and Estero are saw an explosion of single family homes going to contract. Also, pending sales were up 103 percent which was a major jump over July when pending sales were up 60 percent. Additionally, the number of closed sales saw a major jump, up over 35 percent compared to the same time last year.

However, the increase in both closed and pending sales continues to deplete the available inventory. For 5 consecutive months, inventory has declined each month to a point we only have a 3.4 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. Even though new listings increased compared to August of last year, Southwest Florida’s low inventory levels make it a seller’s market.

Southwest Florida Market Update – Condos and Townhomes

August 2020 versus August 2019 Condo Highlights:

Condo sales increased 32.1 percent going from 81 real estate transactions up to 107 sales
Pending sales increased 62 percent up from 71 last August versus 115 this August
Inventory increased 6.5 percent up to 410 condos for sale compared to this same time last year when there were 385 units for sale
New listings increased from 78 up to 124 which is a 59 percent increase
Median days on the market decreased to 48 days which is a 52.9 percent decrease versus August 2019
Available inventory of condos ended August with a 4.6 months supply of properties available for sale which was a 2.2 percent increase

Similar to single family homes, condos going to contract increased significantly during August. Unlike July when condo sales declined, during August closed sales increased over 30 percent. On the bright side, new listings to the market increase increased more than 59 percent. Yet, the additional condos for sale is just not enough to keep up with buyer demand. And with only 4.6 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.

Southwest Florida Recent Home Sales Reports

Bonita Springs Estero August 2020 Market Update

Bonita Springs Estero August 2020 Real Estate Activity

Naples Area Market Report

Luxury Golf Community Real Estate Trends

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.

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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.

Should I Use a Realtor or Sell on My Own?