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Chris Griffith w The Griffith Group w 239-273-7430Downing Frye Realty, Inc. w www.LifeInBonitaSprings.com
2014 Real Estate Outlook forBonita Springs and Estero Florida
What if The SWFL
Real Estate Market is Actually Getting Better?
Prices Are Going Up!Curious about whether the real estate market is recovering?
Are prices going up? Are prices going down?
We’ve come full circle … observe the high, lows and gradual recovery of prices of Bonita Springs – Estero Florida real estate sales.
*
A Decade of Historical Sales
Considered Distressed! How distressed is real estate in Bonita Springs and Estero?
Many consumers are surprised to learn that the majority of closed real estate transactions are for equity owned real estate which means there is no bank involvement.
Bonita Springs and Estero, Florida is not drowning in foreclosures and the numbers are dropping.
Most Real Estate Sales Are *NOT*
Equity Sales Up(Foreclosure and Short Sales Down)
Notice the correlation between the rising equity sales (units sold) and falling distressed short sale and foreclosure properties (units sold) in Bonita Springs and Estero Florida.
Prices, as a result, are going up.
Absorption Rate - Bonita Springs Estero, Fl
1,591 Active
209 Pending
334 Pend/C
2,134
3,135
2,134
261.25=12÷
261.25 8.1= ÷
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
Bonita Springs and Estero 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. • There are price points, especially entry level, with only weeks of inventory at
this time (Jan 2014). Prices in entry level are rising quickly at this time.• To determine a proper list price or offer price an absorption rate for the
neighborhood, price point or subdivision is key in determining how quickly a market is selling and whether or not prices are going up or down.
• Distressed Bonita Springs - Estero real estate is disappearing. Only 7.8% of closed sales in 2013 were foreclosure. Only 5.6% of the closed sales in 2013 was a short sale. With the rising prices more homes with mortgages will be “above water” by the end 2014 and significantly reduce distressed properties.
*Statistics were gathered from the SWFLMLS on Jan 1 2014.
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 SWFLMLS on January 30, 2014.
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
2014 Real Estate Outlook forBonita Springs and Estero Florida
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