Bonita Springs Real Estate Market Report November 2012
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Chris Griffith w The Griffith Group w 239-273-7430 Downing Frye Realty, Inc. w www.LifeInBonitaSprings.com Southwest Florida Real Estate Market Report November 2012
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This is a SWFL real estate market report that includes Bonita Springs real estate and Estero Florida real estate, also. This report is a little broader than I usually prepare. Occasionally, I speak publicly about the state of the SWFL real estate market and this report was prepared for a speaking engagement in Naples Florida in November 2012. Should you have any questions regarding this Bonita Springs real estate market report or attending a real estate market event contact Chris Griffith 239-273-7430. This report is hosted on www.LifeInBonitaSprings.com/Articles and distributed on the social media site www.LifeInBonitaSprings.net
Transcript of Bonita Springs Real Estate Market Report November 2012
Chris Griffith w The Griffith Group w 239-273-7430Downing Frye Realty, Inc. w www.LifeInBonitaSprings.com
Southwest Florida Real Estate Market Report November 2012
Selling Your Home Where Do You Start?
• Pick a Real Estate Agent
Selling Your Home Where Do You Start?
• Pick a Real Estate Agent• Take a Stab at a Random List Price
Selling Your Home Where Do You Start?
• Pick a Real Estate Agent• Take a Stab at a Random List Price• Strap in and Hope For The Best
Have You Tried
SellingReal
EstateLately?
You Should Expect and Demand DataKeep Interviewing Agents Until You Get This Data:
• Historical Sales Statistics• Foreclosure, Equity, Short Sales Stats• What Price Range is Selling Stats• Absorption Rate – Inventory Stats• A Comparative Market Analysis • Suggested Listing Price• Expected Sales Price • Marketing Plan
Drilled Down to The Neighborhood or Street
The Good News!The November sales history for a ten year period show a dip of sales and the sell off of existing inventory leading to the stabilization of the market.
We’ve come full circle … observe the leveling off of Lee and Collier County Florida real estate sales.
*
A Decade of Historical Sales
917
Considered Distressed How distressed is real estate in Southwest Florida?
Many consumers are surprised to learn that over seventy-five percent of closed real estate transactions are for equity owned real estate which means there is no bank involvement.
Southwest Florida isn’t drowning in as many foreclosures as reported in the media.
Over 73% of Sales Are *NOT*
Every Price Range Sells(Even in the Summer)
Proper pricing is critical especially if your home price is in a slim margin.
A total of 917 properties were closed sale in SWFL at the time the data was collected.
$400K and under has lead the pack for years.
Absorption Rate For Lee & Collier Counties
8,749 Active
1,297 Pending
1,581 Pend/C
11,627
13,837
11,627
1153=12÷
1153 10.1= ÷
TotalActive
Listings
Closed SalesOne Year
Rate
Total Active Listings
Rate Months of Inventory
The absorption rate helps determine exactly how much inventory -competition is out there and helps gauge estimated time on market.
Six Months of Inventory is Considered a Balanced Market
Months
Six Months Ago …Inventory & Absorption Rates
This is the anticipated time it would take to sell existing inventory. Our market is stabilizing and even undersupplied in select markets.
Six months is considered a balanced market.
Pricing real estate is a science and statistics don’t lie. There is no time to “price fish” if your goal is to sell your real estate in 30 to 90 days.
Single Family & Villa Homes 12.2 Months
Attached Villa Homes 9.8 Months
Low Rise Condominiums 12.1 Months
Mid Rise Condominiums 17 Months
High Rise Condominiums 21.4 Months
Manufactured Homes 14.2 Months *Statistics were gathered from the Sunshine MLS on March 2012.
Current SW Florida Real Estate Inventory & Absorption Rates
This is the anticipated time it would take to sell existing inventory. Our market is stabilizing and even undersupplied in select markets.
Six months is considered a balanced market.
Pricing real estate is a science and statistics don’t lie. There is no time to “price fish” if your goal is to sell your real estate in 30 to 90 days.
Single Family & Villa Homes 9.6 Months
Attached Villa Homes 8.6 Months
Low Rise Condominiums 9.4 Months
Mid Rise Condominiums 12.8 Months
High Rise Condominiums 14.7 Months
Manufactured Homes 15 Months *Statistics were gathered from the Sunshine MLS on Nov 23 2012.
Southwest Florida Real Estate Info…
www. LifeInBonitaSprings.com
To view current market statistics. http://lifeinbonitasprings.com/category/bonita-springs-market-report
Statistics were gathered from the Sunshine MLS on November 23, 2012.
All information is deem accurate, not guaranteed and subject to change. Check the date on this report for freshness. If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report.
Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.
Chris Griffith w The Griffith Group w 239-273-7430Downing Frye Realty, Inc. w www.LifeInBonitaSprings.com
Southwest Florida Real Estate Market Report November 2012
