Pending sales up 16 percent; buyers need inventory in Bonita Springs and Estero housing markets

Bonita Springs Estero REALTORS logoFor August 2019, REALTOR.com reported over 9.2 million search result page views in the Bonita Springs and Estero markets, which is a 4 percent month-over-month increase. Continued buyer interest in Bonita Springs and Estero was also supported by the notable 16 percent increase in pending sales for combined single family homes and condominiums. For closed sales, August 2019 saw the strongest sales in the $1 to $2 million price segment for single-family homes.  “Buyer interest in the market continues for several reasons,” stated a Broker.  “Opportunities for home affordability are greater in Bonita Springs and Estero than some of our surrounding areas, which further encourages year round residents to relocate to the area, as well as new businesses.”  “Additionally, the upcoming October 15th policy change regarding FHA loan approval of condominium units will also generate additional buyer interest in the condo market.”

While pending and closed sales see continued activity, buyers looking in Bonita Springs and Estero are also facing low inventory numbers, a trend that has been ongoing for several months in 2019.  For single family homes and condominiums, each market segment showed more than a 24 percent decrease in inventory for August 2019 compared to this time last year.   “Bonita Springs and Estero continues to be the ‘sweet spot’ between Naples and Ft. Myers,” stated a Broker.“These markets are being searched online daily and inventory levels continue to decrease as we move in the autumn buying season

For buyers looking to purchase a new construction home, there are still many choices available, but it’s critical to bring a REALTOR® on a home search in new construction communities. “When buying new construction, many buyers believe it’s a good idea to not have a REALTOR® and to use the builder representative.  The thought process is that it can save them money, which is unfortunately false,” stated a Broker. “Most builders will advertise base prices and have a list of additional prices for upgrades and changes to their floor plans.  A REALTOR® who has experience with new construction can help the buyer negotiate the prices of these upgrades and changes. He added, “the bottom line is that representation for the buyer in a new construction home transaction is just as important as in a resale home transaction.”

Low inventory numbers also present an opportunity for homeowners who want to sell now. “Sales and buyer interest in the Bonita Springs and Estero markets continue to be active year round as sales grow, especially in the $500K to $1 million price segments, “stated a Broker.  “Homeowners who wish to sell have an opportunity to list and sell now. There is no reason to wait until January, as buyers have been looking all summer and are here now”.

Additionally, in the Bonita Springs and Estero markets, the median sales price increased 9.7 percent for single family homes, but decreased 7.5 percent for condominiums. The days on market increased 39.2 percent for single family homes and 22.7 percent for condominiums. In August 2019, there were 124 price repositions for single family homes and 91 price repositions for condominiums in Bonita Springs and Estero. The Bonita Springs-Estero REALTORS® August 2019 Report shows these overall findings for both single family and condominiums combined.

For more information and to arrange a visit to any of these luxury homes, call David at 239-285-1086 or email david@davidflorida.com.

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