Bonita Springs Real Estate Market Update March 2018
It’s official. Season is over so we’re going to be wrapping up a the pending sales and closings for the next several weeks. Just because season is over doesn’t mean we don’t sell real estate in Bonita Springs. We just sell to a different type of clientele. The locals are shuffling around and we go through our “graduation lull” and then we start getting visits from the be-back buyers. Those are the folks who looked this winter and either didn’t find what they wanted or they have been studying what they want and have decided to take the plunge.
About half way through the summer we start getting “can’t find a rental”. Those folks who buy a home because they either can’t find a rental or they decide that what they would rather use that rental money as part of the down payment or remodel cost.
Last months sales were consistent where short sales and foreclosures are concerned. We had about 97.5% equity sales. Very few distressed sales. Our active listings are at 99% non-distressed properties. Cash sales were nearly 60% which is up over the last few months. Conventional financing was used for about 34% of the purchases made.
If you’re a real estate buyer or seller in the Bonita Springs area keep this in mind – nearly 70% of our sales occurred in the price point under $400,000. The closer you get to zero the more competitive it gets! That’s a lot of entry level real estate moving. That also creates growing pains in the top tier or luxury real estate market.
If you’re ready to buy or sell a home or condo in the Bonita Springs or Estero, Florida area call or text today to get started. 239-273-7430