October 2015 Home Sales Statistics
The fall influx of snowbird buyers brought with it a rebound of cash transactions. Last month cash transactions in the Bonita Springs real estate market were at about 45% and this month the closed real estate figures show just over 59% of the closed sales were paid for with cash.
The return of our winter residents also pushed a huge sell off of entry level priced real estate in the Bonita Springs and Estero Florida areas. Cash is king and affordably priced or appropriately priced real estate is being scooped up by savvy buyers. The slowest moving sector of real estate is the $800,000-1,000,000. That means that there could be some deals in the luxury real estate market , depending upon the neighborhood and inventory statistics. An absorption rate is crucial when purchasing a home in SWFL in this heated market or you could leave money on the table!
Actual real estate units sold leveled out nicely. What is not show in the Bonita Springs sales statistics is the new construction sales if they were not MLS listings. New Construction is currently taking place in the Livingston Road/Three Oaks Parkway Corridor, The Corkscrew Corridor and the East Bonita Beach Road area. Luxury new home construction west of 41 is also under way in Bonita Bay at Seaglass and in The Colony at Pelican Landing.
Distressed real estate in SWFL is continually shrinking. Currently the short sales in the Bonita Springs and Estero Florida are about .5% of the real estate market. Foreclosures account for only 2.5% of the real estate market. If you are coming to SWFL to shop for a new home in Bonita Springs the distressed real estate market is a shrinking piece of the pie.
If you'd like to learn more about buying or selling real estate in Bonita Springs Florida contact Chris Griffith 239-273-7430. You can download a full printable .pdf of the statistics here: Bonita Springs Estero Real Estate Market Report