August Bonita Springs Real Estate Statistics
This real estate market update is a few days late due to Hurricane Irma. Thanks for hanging in there! We were slightly off with closed sales in the Bonita Springs – Estero Florida real estate market. The buyers had an unusual vibe this year. From my experience as a listing agent I can tell you that buyers were throwing out low offers and walking away if there was a counter offer because they felt they had the time to test the market. I can also share that since the hurricane has passed we have had buyers back in force.
It was a bumpy ride into mid-September but those who are savvy enough to calculate closings on a calendar know that if they are buying with a mortgage or even if they pay cash but are buying in an HOA or Condo association there will be 30 days to wait to process the application or transaction. For those who intend on wintering in Bonita Springs they’re either locking down or on the verge of locking down their housing.
The car haulers are back in town already and things are moving again. The numbers will be interesting next month. We will be down one week of shopping time due Irma. This month the units sold is slightly off. You can download the graphs by clicking on the photo album. Our distressed sales are still about 1.5% of the real estate market, or less. There is no rhyme or reason to foreclosures as the handful of them were sprinkled from The Colony to Vasari to Fountain Lakes.
The homes and condos that did close sale were paid for mostly with cash – 54% followed by conventional mortgages – 35%. Of those homes and condos that closed sale a whopping 69% of them were priced under $400,000. Entry level priced properties are ruling the market.
Next month’s numbers should really be interesting with this storm mixing things up.