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Naples Bonita Springs Estero FL: A Buyers Market, but How Much Longer?

By
Real Estate Agent with Downing-Frye Realty, Inc. Naples, FL

Naples Bonita Springs Estero FL: A Buyers Market, but How Much Longer?

Inventory Decreases, Median Home Prices Increase

Buyers have taken advantage of the current market, price is driving the activity and the inventory of available properties has plummeted (bottom graph.)

The sales activity is approaching record levels. Naples up 20% on an average sales volume per month basis year-over-year while the Bonita-Estero market is up 10%.

The average median price paid overall for the same average and year-over-year comparison is  Naples up more than 15% and Bonita-Estero up nearly 10%.

I expect this buyer's market activity to drive sellers back into the market soon. There's nothing like low inventory and rising prices to do just that.

 

Comments (2)

Randy Mitchelson,APR
Marketing Advisor & Squeeze Mortgage - Bonita Springs, FL
First Impressions are made at First Click

I live in Stoneybrook Estero and the prices in here are still dismal.

Hope that this community catches the wave soon.

Jun 10, 2012 04:27 AM
Bob Pisa, Broker Associate
Downing-Frye Realty, Inc. Naples, FL - Naples, FL
Commitment, Service, Satisfaction...

Hi Randy,

"Dismal" as compared to what, the overheated market of 2005-2006? I'm sure.

In Stoneybrook, over the last four years there is on average a handful or less of single-family home sales per month (through a REALTOR and reported in the MLS.) However, May 2012 there were 7, about twice the average.

It's the low prices that are driving the sales but things are improving.

For Stoneybrook:

The average monthly median price over the four years is $239,968.

The median price in May 2012 was $248,000, a 3% above the four year average.

During the bottom of the market, the median was about $200,000 and now it's about $260,000 average for the past three months.

Compared to "the crazy days" I agree is dismal, but we're not likely to see those prices return for a long, long time. Slow improvement, overall, for the last four years and prices are heating up considerably from the bottom of the market just one year ago.

Jun 10, 2012 04:48 AM