Bonita Springs Real Estate Market Update July 2018
Bonita Springs home sellers often wonder if they should have their home listed for sale over the summer. There are still fallacies that there are “no buyers around during summer”. The fact of the matter is that every single day several thousand Americans turn 65. Many are migrating to Florida whether it is to live or to vacation seasonally. With that wave we are seeing not only the price of entry level properties go up but also the shrinking inventory of seasonal rental. Those who are retiring to warm climate or tax benefits have moved into their second home that was once in a rental pool.
There are fewer rentals to go around so many would-be tenants are simply buying a littler sooner than they had anticipated.
The graphs above will show that we are steadily on track with regard to “units sold” and also that the $400,000 and under price point is king. We’ve seen fewer folks paying cash for their Bonita Springs home purchase. Part of that is caused by the rising prices and also the scramble to get mortgages before interest rates bump up again.
If you have questions about buying or selling property in Bonita Springs, Estero, Fort Myers or Naples reach out to Chris or Angela. We’re here to help! 239-273-7430 call or text anytime including evenings and weekends.