Summer heat has not cooled interest in Bonita Springs, Estero markets

BONITA SPRINGS — According to the Bonita Springs-Estero REALTORS Media Committee, Realtor.com reported over 7 million search result page views in the Bonita Springs and Estero markets for the month of June, as well as an average of 118 views per active listing. Additionally, while the nation’s numbers show decreased inventory and interest in home sales, interest is still very active in the Bonita Springs and Estero markets.

"Bonita Springs and Estero is still on the hot list for many interested buyers who are already here and for buyers in other markets,” stated Jerry Murphy, managing broker, Downing-Frye Realty, Bonita Springs. He adds, “While inventory for the $300,000-$500,000 segment has decreased, buyers are watching the market and are looking at all price points."

As the back-to-school season rapidly approaches, open house activity is expected to increase as buyers look to purchase prior to the new school year and the winter season. Overall, according FGCU’s July 2018 Economic Indicators Report, the area continues to display signs of strong growth with interest in the Bonita Springs and Estero markets adding to this overall positive outlook.

Inventory for both single-family homes and condominiums showed an overall 1 percent increase over July 2017. While single-family homes showed a 5 percent increase in inventory specifically, condominium inventory has dropped off slightly.

"Inventory numbers directly relate to availability, as do closings. Despite minor inventory fluctuations, closings are steady with just a 4 percent decrease for 12-month ending June 2018 vs. June 2017,” stated Bonita Springs-Estero REALTORS President and Area Broker, Joe Pavich, Sr., Broker, Realty World, J. Pavich Real Estate, Bonita Springs-Estero. 

Price repositioning in the market continues into June with 179 single-family and 120 price repositions in the condo market. “With close to 300 repositions overall, homeowners realize that summertime in Southwest Florida is a great time to list because the competition is less than in season, and because summer buyer and sellers are very motivated, so pricing is key,” stated Kevin Jarrett, Broker, Premiere Plus Realty, Bonita Springs. “Price repositioning also helps those who are getting ready to list,” adds Julie Ross, Appraiser, Carroll and Carroll Real Estate Appraisers and Consultants. “It allows sellers and their agents to obtain accurate information to price and prepare the property for listing. In addition to price repositions, Canadians who took advantage of the value of the Canadian dollar some years ago are now selling and seeing favorable returns now.

Overall, the Bonita Springs and Estero markets showed a slight decrease of 3 percent in pending units and a 4 percent decrease in closings for 12-month June-ending figures. The median price remains steady, while the days-on-market has increased by 11 percent, most likely due to steady price repositioning throughout the year.

The Bonita Springs-Estero REALTORS June 2018 Report shows overall findings for both single family and condominiums combined. The report can be viewed at  BonitaSpringsRealtors.com.