Springs Estero Real Estate Market - September 2014
Here’s the latest and greatest update for the Bonita Springs home and condo market for the month of September 2014. Bonita Springs real estate sale are continuing along at quite a pace. For months, the $200-400,000 price range has been out pacing the $200,000 and under price point simply because the bottom is coming up and the entry level real estate is selling off like hot cakes. At the time of this publication there were only 17 homes and condos for sale under $100,000 in all of Bonita Springs and Estero, Florida (excluding manufactured homes and time shares). You’ll notice that the $800,000-1,000,000 price point only had one sale recorded.
Historical Bonita Springs Home Sales
This graph indicates what real estate sales have looked like during the month of September for the past decade. We’ve leveled off nicely. We are extremely low on real estate inventory right now or there would have been more units sold.
Condition of Bonita Springs Homes Sold
The condition of homes sold in Bonita Springs has improved month to month. The rising real estate prices have produced less home sales because fewer home owner are “under water”. Foreclosure tend to fluctuate but they have also been diminishing as a whole.
Condition of Homes For Sale in Bonita Springs-Estero
Looking forward, the condition is improving and there are fewer homes as short sale or foreclosures in Bonita Springs and Estero. We will continue to make progress and by spring the short sales will be a sliver of the real estate market.
Financing Bonita Springs Homes and Condos
Home buyers in Bonita Springs and Estero continue to pay for their real estate with cash as a primary source of payment, followed by conventional financing. There are little to no owner financing properties in Bonita Springs. Owners have no motivation to finance a home when there are lines of buyers fighting to pay cash, especially in entry level real estate. The same goes for lease-option real estate. The prices are going up so home sellers have no motivation to expose themselves to risk in an upwardly trending market.
Download and print the market report graphs here: Sept 2014 Bonita Springs Market Report