Bonita Springs Estero Real Market Report March 1 2013


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Bonita Springs Estero Real Market Report March 1 2013

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Bonita Springs Estero Real Market Report March 1 2013

  1. 1. March 1 2013Bonita Spring Estero Real Estate Market Report Chris Griffith w The Griffith Group w 239-273-7430Downing Frye Realty, Inc. w
  2. 2. Bonita Springs Market Report March 1, 2013
  3. 3. A Decade of Historical Bonita Springs Florida Real Estate SalesClosed sales haveleveled off and areslightly lower thanlast year but at thistime and nearly atthe healthy 2004sales levels.Sales have beensteady andinventory remainsrather thin in entrylevel pricedproperties under$400,000 whichaccounts for 80% ofsales.
  4. 4. What is The Condition of BonitaSprings Florida Real Estate Sales?How distressed isreal estate in BonitaSprings and EsteroFlorida?The level of soldforeclosures is lowbut the short salesare at very lowlevels compared torecent months, also.Foreclosureproperties sellquickly andexperience multipleoffers when they docome to the market.
  5. 5. How Bonita Springs Real Estate is Paid ForCash remains kingwith about 70% ofall real estateclosed sales beingfunded with cash.For those who arelooking foralternativefinancing such asowner financing orprivate hardmoney, thenumbers areparticularly slim.
  6. 6. What Price Range of Bonita Springs Florida Real Estate is Selling?City wide about 80%of all closed saleswere under the$400K price point.The 600-800K pricepoint accounts forabout 1.7% of allclosed sales (purple).A dismal statistic forthat price range.A total of 137 +/-properties wereclosed sale in BonitaSprings and EsteroFlorida during themonth of Feb 2013.
  7. 7. Current Bonita Springs Real Estate Inventory and Absorption RatesStatistics were gatheredfrom the Sunshine MLSon March 2, 2013. Single Family Homes-Villas – 11.6 Months (h .6 mo.)This is the anticipated Low Rise Condominiums – 10.5 Monthstime it would take to sellexisting inventory. (34 .4 mo.) Mid Rise Condominiums – 19.5 MonthsSix months is considered (h .5 mo.)a balanced market. We High Rise Condominiums – 15.7 Monthsdo have a large amountof pending/pending- (h .9 mo.)contingent properties Attached Villas – 9.7 Monthsskewing the marketstatistics so the months (h 1.4 mo.)of current inventory Manufactured Homes – 13 Monthswould be far less if they (i .5 mo.)weren’t in the equation.
  8. 8. Did You Miss The Real Estate Boat?Entry Level PricesAre Rising! The Deals Remain in $600,000 and Up Priced Real Estate!
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  10. 10. For More Information about BonitaSprings and Estero Florida Real Estate …Visit www. to view market statistics, current listings and toSearch for Homes to view realestate market reports from month prior visit: were gathered from the Sunshine MLS on March 2, 2013.All information is deem accurate, not guaranteed and subject to change. Check thedate on this report for freshness. If you have questions regarding your particularneighborhood, your street or your home specifically you’re welcome to contact us fora current market report.Real estate consumers that read this website are urged to seek independent,professional legal, real estate and financial advice before engaging in anytransaction. All information is deemed, accurate, subject to change and notguaranteed.