Monday, November 30, 2015 / by Michael Donovan
Bonita Springs — The Bonita Springs-Estero Association of Realtors (BEAR) has just posted the October 2015 Monthly Real Estate Market Detail to BonitaEsteroRealtors.com.
In the single-family home market segment, closed sales decreased 27.7 percent versus October 2014. New listings also experienced a decrease of 8 percent over this time last year. The median days moved from stable to a decrease of 20 percent versus October 2014. There were 415 active listings in October 2015, also remaining stable versus October 2014.
In the condominium/town home market segment, closed sales also saw a decrease of 29.9 percent compared to this time last year. New listings decreased slightly and the median days on market continues to decrease with a 64.8 percent decrease over October 2014. The month's supply of inventory saw a 12 percent decrease over prior year.
"The correlation between lower inventory levels and the number of closed sales is very clear." stated Judi Gietzen, 2015 BEAR President and Elite Realty of Southwest Florida broker/owner. "The ever decreasing days on market is evidence of strong buyer activity in the market, but they are still facing some inventory challenges. Homeowners still waiting for January to list are most likely missing a prime opportunity. Additionally, even though inventory is lower, it is a great time to buy, as year-over-year prices are lower now, but not likely to stay that way through January February and March 2016."
BEAR reports monthly real estate statistics on home listings and sales within Bonita Springs and Estero combined market.
The highlights of the October 2015 report include the following:
Single-Family Homes, as compared to October 2014 year over year: Closed sales 73 units — 27.7 percent decrease; New Pending Sales 96 units — 1 percent decrease; New Listings 138 units — 8 percent decrease; Average Sale Price $399,339 — 7.4 percent decrease; Median Days on Market 28 — 20 percent decrease; Inventory of Active Listings 415 units — 1 percent decrease; and the Month's Supply of Inventory 4.6 units — .7 percent decrease.
Condominiums/Townhomes, as compared to October 2014 year over year: Closed sales 54 units — 29.9 percent decrease; New Pending Sales 84 units — 9.7 percent decrease; New Listings 115 units — 10.2 percent decrease; Average Sale Price $286,535 — 5.3 percent decrease; Median Days on Market 19 — 64.8 percent decrease; Inventory of Active Listings 307 units — 22.5 percent decrease; and the Month's Supply of Inventory 3.7 units — 12 percent decrease.
To see the October 2015 market reports, visit BonitaEsteroRealtors.com.