According to the Bonita Springs-Estero REALTORS® Media Committee, homebuyer activity and interest has continued to increase during the month of April. Even though summer, which is our slower season, is approaching sales remain strong.
In fact, based on the latest reports from REALTOR.com, there were over 11 million page views of property searches for Bonita Springs and Estero in March 2018, which was almost 30 percent higher than the prior month.
"The market has home styles and communities for every type of buyer. We have new families moving into the area as well as those looking to retire or become part-time residents, making Bonita Springs and Estero top choices for buyers.” stated Jerry Murphy, Managing Broker, Downing-Frye Realty, Bonita Springs.
Based on buyer trends, we are seeing more year-round residents. Homebuyers are relocating, buying a second home or retiring in Bonita Springs and Estero. For those considering a move to Southwest Florida, now is a perfect time to buy.
April 2018 Single Family Home Sales
Single Family Homebuyer Activity Highlights:
- Closed sales increased 50 percent, up from 96 in April 2017 versus 144 in April 2018
- Pending sales increased from 118 units up to 146 units or 23.7 percent
- Average Sales Price went from $482,052 up to $491,590 which is a 2 percent increase
- Inventory increased 12.5 percent from 585 single family homes in April '17 up to 658 in April '18
- Days on Market fell from 106 days to 100 days which is a 5.7 decrease for the month
Overall, single-family homebuyer activity for both closed sales and pending sales increased significantly compared to the same time last year. In fact, closed sales were fifty percent higher than last April. At the same time the days on market fell slightly. The good news is inventory increased 12.5 percent compared to last year which means there are slightly more homes to chose from for homebuyers. However, overall inventory remains low compared to prior years and their appears to be no end in site to the low inventory. As a result, analysts expect home prices to continue to rise.
April 2018 Condo Sales
Condo Homebuyer Activity Highlights:
- Closed sales increased 39 percent, up from 100 in April 2017 versus 139 in April 2018
- Pending sales increased from 112 units up to 118 units or 5.4 percent
- Average Sales Price went down from $326,169 up to $491,590 which is a 2 percent decrease
- Inventory increased 3.5 percent from 544 condos in April '17 up to 563 in April '18
- Days on Market fell from 69 days to 64 days which is a 7.2 decrease for the month
Similar to single family homes, condo sales for the month of April were significantly higher than April of last year. Pending sales also increased slightly during the same time period. However, inventory only showed a minor increase. Therefore, the low inventory will continue to put upward pressure on condo prices. And, the days on market for condos were significantly lower than single family homes. So, if your thinking about buying a home or condo you should consider purchasing now as prices are expected to continue their upward trend.
Currently, single family homes and condos priced at fair market value continue to move quickly. Those properties overpriced remain on the market which is why the total days on market increased slightly. Sellers who are uncertain about listing now should reconsider as there is less competition during the summer months, but pricing is a key factor.
More SWFL April Real Estate News:
Begin Your Own Property Search:
So, if you’re ready to begin your search for your dream home or condo, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.
Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.
If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!
Lastly, I will handle all contract negotiations for your property from offer to close!
Contact Matt: Matt@NaplesGolfGuy.com
May 19, 2018 Posted by Matt