B.E.A.R.-LogoThe number of closed home and condo sales handled by members of the Bonita Springs-Estero Association Of Realtors, (B.E.A.R.), were down 21% in December of 2017 when compared with the same month one year earlier. The median price of all closed sales in December was $315,000, compared with $316,000 in December 2016. Here is the full B.E.A.R. report:

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Bonita Springs, FL | January 17, 2018 —— According to the Bonita Springs-Estero REALTORS® Media Committee, the overall number of pending sales has increased by 7 percent in December 2017 compared to December 2016, and by 2 percent for 12-month ending 2017 versus 2016.  Closed transactions for December 2017 were reported as a 21 percent decrease, but this is likely due to the postponement of some hurricane repairs.  Additionally, condominium pending sales have increased 31 percent month over month, continuing the trend of price stabilization observed over the last several months in this segment.

Area brokers are also reporting increased activity for open houses and buyers who are ready to make offers.  “Now that storm repairs and the holidays are behind us, buyers are here and ready to see properties,” stated Sherry Stein, Managing Broker, Berkshire Hathaway Home Services Florida Realty, Bonita Springs. She adds, “Savvy buyers know that opportunities are here now, and they no longer want to wait.”

New construction homes continue to be a viable choice for buyers, but area brokers are still urging buyers not to go it alone without their own REALTOR®, as new construction community on-site agents work for the builder/developer.  “In a new construction transaction, your agent is instrumental is the negotiation process,” stated Victor Asencio, Broker-Owner, SWFL Luxury Realty, Bonita Springs.  He adds, “Not having your own agent essentially leaves money on the table and no one looking out for the buyer’s interests.”  Additionally, the builder/developer pays the buyer agent’s commission, making it a win-win situation for any buyer to have their own agent in the transaction.

Year over year, inventory has remained stable despite potential challenges of last year’s election and this year’s storm.  There was a slight dip noted in late September and early October 2017, but overall Hurricane Irma did not affect year-over-year numbers. The Bonita Springs and Estero markets continue to be stable with both pricing and inventory.  “We’re currently in a stable market where price still sells. Properties priced at fair market value will continue to sell, as those are the properties receiving multiple offers,” stated Jerry Murphy, Broker, Downing-Frye Realty, Bonita Springs.” We’re anticipating a solid winter buying season here in Bonita Springs and Estero,” he adds.

The Bonita Springs-Estero REALTORS® January 2018 Report shows these overall findings for both single family and condominiums combined for the month of December 2017.

Month over Month 12/2016

Month over Month 12/2017

% Change

Pending Sales Units

166

178

7

Closed Sales Units

268

213

-21

Median Closed Price

$316,000

$315,000

0

 

 

 

 

12-Month Ending 12/2016

12-Month Ending 12/2017

% Change

Pending Sales Units

2,896

2,963

2

Closed Sales Units

2,887

2,923

1

Median Closed Price

$302,000

$295,000

-2

Average Days on Market

106

109

3

*Active Inventory

1,533

1,678

8

*Avg Month’s Supply

5

4.2

-2

If you’re ready to buy a home or condo, either existing or new construction, call the Bonita Springs-Estero expert today. Call Jim Barbour at (239) 273-3833.