Bonita Springs Home Stats Nov 1 2014
Are you headed back to Bonita Springs or Estero to buy a home or condo this winter? Things may look a little different than the last time you were in SWFL. A year ago the $200,000 and under real estate market was commanding the market. For the last few months the $200-400,000 real estate market has lead the charge. Check out the statistics on the graph above. If you’re a seller in Bonita Springs you might want to consider what price range your home is in and if it stands potential for selling. For example, look at the $800-1,000,000 price point. Only four units sold in that price point last month.
Bonita Springs Homes Sold Condition
The good news is that we are doing well with the evaporation of distressed real estate in Southwest Florida. Above is the closed sale statistics and how many short sales and foreclosures home sales that really aren't happening these days.
Bonita Springs Home Listings Condition
At this time the current listings show only 1.4% short sales and only 3.5% foreclosures. Things are looking up and home prices have gone up considerably. If you are thinking of selling and you’re not sure what price your home can fetch. Call me and I can do a seller’s estimated net sheet with closing costs and your mortgage balance so you know the facts. You never know. I might be able to help you cash flow and move on.
Bonita Springs Historical Sales
The graph above shows sales by unit number for 10 years during the month of October. You’ll see the gradual climb of real estate sales which is how all of the inventory was absorbed. End story: Real estate is back in Southwest Florida. Now we have to watch for bubble number two. I’m watching and calculating the next soft spot I see forming.
How Bonita Springs Homes Are Financed
Cash is still king but we've seen a slowing of cash purchases. While we’ve been as high at 70% cash, we’ve also been as low at 54%. This month we’re at just under 60% cash sales. We’ve seen Conventional lending expand and even a few more VA mortgages, which are great cost savers for veterans.