January 2020 Real Estate Update

The January 2020 Real Estate Update for Bonita Springs and Estero shows sales of both single family homes and condos rose significantly in January compared to the same time last year. Similar to last month, homebuyers are purchasing properties in Southwest Florida earlier in the season than last year. Single family home sales were up 28 percent and condo sales were up a 24% percent. Additionally, pending sales saw similar activity with single family home pending sales up 27.4 percent and condos up 35.4 percent.

While there’s been a very strong start to the year in closed and pending sales, the downside is it put a dent in inventory. A healthy level of inventory of homes for sale ranges from 6-7 months supply. At this point, the Bonita Springs and Estero area only has a 5.5 months supply of condos for sale which makes it a buyers market. However, if you are in the market for a single family home, there is a 6.2 months supply of homes for sale which makes it a healthy market for both buyers and sellers.

January 2020 Real Estate Update – Single Family Homes

January 2020 Real Estate Highlights for Single Family Homes

Closed sales increased 28.6 percent from 63 up to 81 homes sold
Inventory decreased 17.1 percent down to 603 compared to January of last year when 727 homes were for sale
Median days to sale fell to 111 days which represented a 7.5 percent decrease versus last year
Median days to contract went down to 72 days from 80 days which was a 10 percent decline
Median sales price decreased slightly from $394,000 down to $375,000 or a 4.8 percent decrease
Total months’ supply of inventory fell to 6.2 months supply of inventory compared to 7.4 months in Jan. of 2019

January 2020 Real Estate Update – Condos

January 2020 Real Estate Sales Highlights for Condos

Closed sales increased 24.6 percent up from 65 to 81 condos sold
Inventory decreased 31.8 percent down to 452 compared to January of last year when 663 condos were for sale
Median days to sale increased to 116 days during January which was an 18.4 percent increase
Median days to contract increased to 74 days up from 60 days which represents a 23.3 percent increase
Median sales price increased from $238,000 down to $289,o00 or a 21.4 percent increase
Total months’ supply of inventory fell from 7.7 down to 5.0 months supply of condos currently for sale

Overall, sales and pending sales were strong for the month of January. Prices continue to increase and inventory continues to decline. Mortgage rates remain at historic lows. While almost 50 percent of the closings were cash transactions, for those using a mortgage, rates remain near historic lows.

Whether you are looking for a vacation home, second home or your forever home, now is a great time to invest in a Southwest Florida property. For more information about homes for sale in Bonita Springs or Estero, contact us at 239-370-0892.

More Information About Southwest Florida Real Estate Trends

January 2020 Florida Realtors Report

Bonita Springs Monthly Market Data Report for January 2020

Luxury Golf Community Real Estate Trends

Naples January Market Update

Begin Your Southwest Florida Property Search

So, if you’re ready to begin your search for your southwest Florida Luxury home or condo, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the more than 150 different golf communities in our area. If you prefer a more direct approach, we will provide a list of properties that meet your criteria and/or communities that meet your needs.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.

Lastly, we will handle all contract negotiations for your property from offer to close!

Considering Selling Your Home?

If you are looking to sell a home in Bonita Springs, Estero, Naples or Fort Myers we recommend you work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor in southwest Florida who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, luxury home, vacation home, golf home or dream home, call or text us at 239-370-0892 or email Matt@NaplesGolfGuy.com

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