September 2015 Home Sales Statistics
Here’s what’s good in the hood for the month of September 2015. The Bonita Springs and Estero Florida real estate market statistics are in and we are continuing to see improving changes in the real estate market. We had a bumper crop of closed sales for the month of September. Looking back historically, we had a bumper crop of closings that surpassed the housing boom, pre-housing bubble September 2005, closed sales. The only thing holding back more closed sales is lack of real estate inventory.
The massive buying going on in the Bonita Springs market is caused by the perfect storm of autumn, 11,000 baby boomers retiring daily in the United States and low interest rates. With the massive buying spree going on, prices have risen which has significantly reduced the short sales in the market place. Foreclosures are fewer and farther between, too. Only about 3% of our current listing inventory is considered distresses. That figure is the lowest level of distressed real estate in the last decade.
What we are seeing is cash drying up. Every month the cash buying power with regard to Bonita Springs real state sales shrinks a little bit more. Conversely, conventional mortgages are growing as a financing option.
Fifty percent of the sales in the Bonita Springs and Estero Florida real estate market are in the $200-400,000 price range. That figure is huge but more importantly, the $200,000 and under price point is evaporating. Eighty-eight percent of all sales are under $600,000. So, if you’re close to the $600,000 budget price point you might just want to peek over that price a little bit to see if there is a value and negotiating power for a home that is in the slower moving real estate market over $600,000.
You can download the market report graphs for Sept 2015 here: Bonita Springs Real Estate Market Report September 2015
Whether you’re a buyer or a seller in the Bonita Springs home or condo market, the numbers make all the difference. Find out how an Accredited Buyer’s Agent can help you navigate the fast paced housing market of Southwest Florida. Contact Chris Griffith today at 239-273-7430 (call or text).