Average sales price for homes within the area have continued to increased in Southwest Florida.
The Bonita Springs-Estero Association of Realtors (BEAR) has posted the August 2014 Monthly Real Estate Market Detail. The average sale price continues to increase in both the single-family and condo markets, with the condo market is seeing an increase of 53.3 percent over August 2013. While the overall market continues to experience inventory shortages, sales are still active as compared to prior year. The days-on-market also continue to decrease in all price points.
“While available inventory does seem to be affecting the number of current sales, we are expecting an influx of new inventory as we approach the fall and winter selling season,” stated Anita Colletti, BEAR President and John R. Wood Properties’ Realtor. “To avoid the increased competition during the winter selling season, sellers are encouraged to list now. They will benefit from the higher market values allowing buyers to purchase now and be settled in time to enjoy their season.”
BEAR reports monthly real estate statistics on home listings and sales within Bonita Springs and Estero combined market. The highlights of the August 2014 report include the following:
Single-Family Homes, as compared to August 2013 year over year: Closed sales 77 units — 42.1 percent decrease; New Pending Sales 85 units — 51.7 percent decrease; New Listings 99 units — 45 percent decrease; Average Sale Price $440,314 — 21.9 percent increase; Median Days on Market 52 — 51.9 percent decrease; Inventory of Active Listings 394 units — 50.3 percent decrease; and the Month’s Supply of Inventory 4.1 units — 26.5 percent decrease.
Condominiums/Townhomes, as compared to August 2013 year over year: Closed sales 74 units — 32.1 percent decrease; New Pending Sales 77 units — 43.4 percent decrease; New Listings 78 units — 55.7 percent decrease; Average Sale Price $345,817 — 53.3 percent increase; Median Days on Market 58 — 46.8 percent decrease; Inventory of Active Listings 373 units — 55.8 percent decrease; and the Month’s Supply of Inventory 3.8 units — 40.6 percent decrease.
To see the full August 2014 market report, visit BonitaEsteroRealtors.com.