Bonita Springs Estero Market Reports October 2016

Bonita Springs Real Estate Statistics & Outlook

The good news about this month’s real estate stats is that we still have few foreclosures and short sales.  Those distressed properties account for fewer than 1.5% of our active listings, as a matter of fact. 

Bonita Springs Estero Historic Sales October 2016

Bonita Springs Home Sales Dip

The big difference we’ll see with this month’s sales is the dip in sales.  Bonita Springs had fewer pending sales and even fewer closed sales. The dip has been attributed to both buyer pull back and election jitters.  You’d have to be living on another planet to not have noticed the contention and the ripple effects the latest presidential election caused.  Things are slowly getting back to normal.  I’ve notice more home buyers searching for homes and condos on the website in the last week, already.

There are a few things that will keep our real estate market peppy this winter and that is, well, it’s going to be winter and everyone loves SWFL in the winter.  This morning, for example, it was sixty-seven degrees, blue sky and not a cloud in the forecast.  Also, we still have the baby-boomer population turning 65 at the rate of 8-10,000 people per day.  Many may be retiring or planning retirement so our real estate is in just the right spot for sun, fun and golf.

Bonita Springs Home Sales

Bonita Springs Buyers Cash vs. Financing Homes

In the last month most of our home and condo buyers have paid cash for their real estate purchases, about fifty-five percent was paid for with cash.  That figure is down about ten percent over last October’s sales.  Cash buyers in Bonita Springs have dwindled as the price of homes has risen.  Also, the interest rates remain favorable with the rumor of rising so many are taking advantage of the low rates.

 Bonita Springs Real Estate Prices

What Priced Homes Sell in Bonita Springs?

About fifty-three percent of our home sales occurred in the price range of $200,000-$400,000.  The $200,000 and under price range is thin, at best. We’ve sold off the bottom for a while and entry level prices have risen significantly.  There are only six single family homes in Bonita Springs for sale under $200K and only two single family homes under $200K in Estero.  These figures exclude manufactured homes.

The outlook for the winter tourist and home buying season looks great. There will be slim pickings in the affordable home prices ranges around $200,000. 

We’ve seen home builders slow production in some neighborhoods and most recently I’ve seen a mix of both price reductions in Paloma condos in Bonita Springs and price increase in Tidewater which is a new active adult community in Estero, Florida. 

If you’d like to learn more about the real estate market statistics in the Bonita Springs and Estero, Florida area contact Chris Griffith at 239-273-7430 or the Jersey girl, Angela Griffith at 239-728-7599.

You can also download the market reports here: Bonita Springs Real Estate Market Reports Oct 2016