The gated community of Bonita Bay, located in Bonita Springs Florida, features homes and condominiums ranging in price from $200,000 to well over $5,000,000. The turn over of homes is usually expected to be around 10% in any given year but the spectacular West Coast of Florida is not following the old patterns.
With more and more boomers coming to Florida and fewer people leaving the area because they miss the cold and snow of the North, we are seeing inventory turnover reducing.
The pace of inventory reduction is often referred to as the Absorption Rate.
Loosely defined, it is the rate the current inventory will be depleted based on the sales in the period being examined. Below I have assembled the data on Bonita Bay for the last 365 days ending with sales reported to MLS ending June 25, 2015. I have defined the market in three broad categories: A Seller's market exists when the inventory is less than 4 months giving the sellers an advantage in negotiations; A Neutral market gives no advantage to either side of a transaction: and Buyer's Market exists when the inventory will take more than 8 months to be cleared. The column, DOM reflects the average days it took for a property in the price range to be closed.
Single Family Homes
| Price Range | # Sold | Active | Mo. of Inv. | Market | DOM |
| All Sales | 64 | 28 | 5.3 | Neutral | 171 |
| $0 - $499K | 10 | 2 | 2.4 | Sellers | 132 |
| $500 - $749K | 9 | 3 | 4.0 | Sellers | 163 |
| $750 - $999K | 11 | 4 | 4.4 | Neutral | 171 |
| $1,000 - $1,499K | 11 | 7 | 7.6 | Neutral | 162 |
| $1,500 - $1,999K | 12 | 4 | 4.0 | Neutral | 234 |
| $2,000 - $2,999K | 9 | 5 | 6.7 | Neutral | 166 |
| $3,000 + | 2 | 3 | 18.0 | Buyers | 107 |
Condominiums
| Price Range | # Sold | Active | Mo. of Inv. | Market | DOM |
| All Sales | 156 | 38 | 2.9 | Sellers | 130 |
| 0 - $499K | 93 | 10 | 1.3 | Sellers | 126 |
| $500 - $749K | 23 | 6 | 3.1 | Sellers | 136 |
| $750 - $999K | 11 | 6 | 6.5 | Neutral | 174 |
| $1,000 - $1,499K | 18 | 8 | 5.3 | Neutral | 148 |
| $1,500 - $1,999K | 3 | 2 | 8.0 | Neutral | 162 |
| $2,000 - $2,999K | 8 | 4 | 6.0 | Neutral | 48 |
| $3,000 + | 0 | 2 | N/A | Buyers |
Total for All Homes in Bonita Bay
| Price Range | # Sold | Active | Mo. of Inv. | Market | DOM |
| All Sales | 220 | 66 | 3.6 | Sellers | 151 |
| $0 - $499K | 103 | 12 | 1.4 | Sellers | 129 |
| $500 - $749K | 32 | 9 | 3.4 | Sellers | 145 |
| $750 - $999K | 22 | 10 | 5.5 | Neutral | 171 |
| $1,000 - $1,499K | 29 | 15 | 6.2 | Neutral | 202 |
| $1,500 - $1,999K | 15 | 6 | 4.8 | Neutral | 164 |
| $2,000 - $2,999K | 17 | 9 | 6.4 | Neutral | 164 |
| $3,000 + | 2 | 5 | 30.0 | Buyers | 107 |
The current market conditions put Sellers firmly in control of the lowest end of the market but in not that strong a position over all. Rather, Bonita Bay is in the Neutral Zone for the majority of its properties, thus providing an excellent opportunity to Buy as well as Sell.
Fortunately, I can handle both of those options with confidence and skill. I invite you to call me with questions, comments or appointments to see what Bonita Bay has to offer.
Please visit me at http://www.swfloridarealestatetobuy.com/ for up to date offerings and sales information.
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