B.E.A.R.-LogoClosed home and condo sales in the Bonita Springs-Estero market finished February down 24.6% from the same month one year earlier. February marked the fifth consecutive month of declining sales in the Bonita Springs-Estero area. This information comes from the February market report released by the Bonita Springs-Estero Association Of Realtors (B.E.A.R.). February’s decline is in line with similar closed sale statistics from other Realtor associations in Naples and Fort Myers.

52 properties changed hands during the second month of 2016 compared with 69 closed sales in February of 2015.

The median price for closed sales in the Bonita Springs-Estero market also declined in February to $354,500 from $380,000 one year ago. The ratio of sale price to list price remained at 94.2% for all properties in both February of 2016 and February of 2015.

With declining sales, the available inventory of actively listed properties has increased 16.7% year over year and currently stands at 558 homes and condos listed for sale.

The time it takes to get a property under contract from the initial listing date continues to decline. It now takes 53 days from listing to contract, an 8.6% drop from the same month one year ago.

Are you ready to sell your home or condo? Unsure what it is worth? Perplexed by today’s up and down market? Call Jim Barbour with Pollard & Hedrich Realty Inc. today at (239) 273-3833 for a free, no obligation discussion and analysis of your property’s value. Even though closed sales are declining, homes and condos are still selling. You need a Realtor that understands the dynamics of today’s real estate market and has a plan to sell your home or condo.