Bonita Springs Real Estate Market Reports December 2016
December in Bonita Springs was just another month in real estate, not too quiet not too busy. Coming off of the election and heading into the holidays kept things from getting too busy. The sales “units sold” was on par with other months.
Our short sales and foreclosures in Bonita Springs remain a a drip pace. There are very few but there are always a couple of them in the MLS system. Homes that begin foreclosure, nationally, take about twelve-hundred days to foreclose. The Florida foreclosure market is down ten percent.
The most impressive changes that I have seen in the Bonita Springs real estate market is the cash drying up. This month we are down to about 50% cash transactions. Years ago, due to the affordability of homes in Bonita Springs, we were in the seventy percentile for months on end. It’s slowly changing and the interest rate hikes are sure to help cause a spike in mortgages from those who decide to buy before significant rises.
Our largest segment of home and condo sales in Bonita Springs and Estero continue to be the $200,000-$400,000 price segment of housing.