Bonita Springs market report March 2016

The Bonita Springs Real Estate Market

Which way is the market headed?  It's not as simple as saying up or down and generalizing about the Bonita Springs real estate market. Let me tell you this:  When the market started moving swiftly, we entered a “low skill” market.  For about $400 and a week in school some bee-bop can get a license and fumble their way through wasting a whole bunch of your money because they just don’t understand. It’s about more than contracts, it’s about more than listings. You’re in an election year mixed with about 10,000 boomers turning 65 daily and retiring.  Try to figure that scenario out without a little experience under your belt!

Whether you're a buyer or a seller what you do need to have is someone who understands absorption and how to calculate it because we're entering a market where it matters! Seller need to know how long they could potentially hold a property before selling and buyers need to know how many months of supply there is so they don't over pay for their real estate.  Not knowing is nothing short of a financial bleed out.

Bonita Springs Historical Sales

 

The over all real estate market is stable across the board but there is inventory piling up in a few communities that I have been watching for buyers looking to get into plus a community in which I have an upcoming listing.  In the last few months I've seen a community go from 5.7 months of inventory for sale to 16 months of inventory for sale.  If you were a home seller in Bonita Springs looking to list your home I can guarantee you that if you interviewed five agents you might be lucky if one knew how to say to you, "Mr. and Mrs. Homeseller, there is over one year of inventory in your neighborhood and that means it could potentially take you up to a year to realize a sale on your property." Pivotal information if you can't afford the home or you're being relocated for work, don't you think?  

Bonita Springs Mortgage and Cash

Sixty percent of our sales are paid for with cash and about thirty-five percent are financed with a conventional mortgage.  The cash has been shrinking as the prices of homes and condos in the Bonita Springs area have started to climb.  The prices have been climbing and as a result there are less than 2% distressed, active real estate listings; short sale and foreclosure properties.  We had about 4.5% distressed sales close sale.  Both graphs are below:

Bonita Springs  Distressed Properties activeBonita Springs distressed properties closed

Bonita Springs Real Estate Prices March 2016

 

Last but not least, you need to know your real estate market.  Whether you're buying or selling you should know what sort of movement is in your price point.  There could be leverage by moving up or down a price point where there is standing inventory and few buyers. An example would be demonstrated in the $700-800,000 price buyer moving up to the $800-900,000 price point because there could be more selection and, perhaps, standing inventory which could offer negotiating leverage.   A home owner  in the $800-900,000 price point would want to have his list price honed since only about 1.4% of the buyer audience is even looking at homes in his price zone. 

If you have questions about buying or selling a Bonita Springs or Estero, Florida home contact Chris at 239-273-7430. The market is shifting very quickly entering summer 2016 and if you want to get the most out of your transaction you need an experienced, skilled professional.