Bonita Springs real estate market update for homes – October

Median sold price for single-family homes decreased 1.2 percent in the year over year comparison (October 2015 to October 2016) from $370,000 to $365,500.

The median sold price of homes in Bonita Springs during 2016 is $394,125. Last year the median sold price was $392,633. The median sold price has increased 0.4 percent.

Median sold price for October was $365,500. The median sold price decreased $17,000 over the previous month’s median sold price of $382,500 or 4.4 percent.

So far, in 2016, the median sold price increase has been 0.4 percent. In 2015, the percentage increase was 15.5 percent over 2014. In 2014, the median sold price increased 4.6 percent over 2013. In 2013, the median sold price increased 22.6 percent over 2012.

The graph below shows the median sold price for homes by year from 2007 to 2016. (The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

The number of Bonita Springs homes for sale at the end of October was 524, while in September there were 474 homes for sale. In October 2015 402 homes were for sale in Bonita Springs.

The median sold prices remains 24.9 percent below the market peak in 2007, when the price was $525,000.

Single-family home prices bottomed in 2009 and 2010 when the median sold price was $225,000. As noted above, in 2016 the median sold price has been $395,132. This represents an increase of 75.2 percent since the bottom of the market.

66 homes were sold in October, last October 79 homes were sold. 74 homes were sold in the month of September.

Homes for sale in Bonita Springs shows 6.7 months of inventory. (Sellers’ market exists when months of inventory are less than 6 months. Buyers’ market occurs when months of inventory exceed 6 months.) Up from last month’s 6.0 months and up from last October’s 4.4 months.

The table below shows the number of homes for sale and months of inventory by price range. Red indicates a seller market, yellow represents a neutral market, and green represents a buyers market by price range.

Homes classified as distressed properties (potential short sales and foreclosures) – 3 or 0.6 percent of the total market – 1 (0.2 percent) is a potential short sale and 2 (0.4 percent) and are foreclosed or REO (real estate owned) properties.

Looking Forward:

New listings for homes coming on the market in October 2016 – 169 with a median list price of $449.000, compared to last year’s October figure of 118 with a median list price of $482,450. During September, 135 homes were listed for sale with a median list price of $459,000.

The lower price of new listings could foretell a continued stabilization of the median sold price.

Other detailed market reports are available for – Naples homes, Naples condos, Bonita Springs condos, Estero homes, and Estero condos by clicking on the appropriate link.

If you missed last month’s report – click on this link – Bonita Springs Homes Market Update.

The data was obtained from the SWFLAMLS a collaborative effort of the multiple listing services of Naples, Bonita Springs/Estero, Fort Myers, and Cape Coral.

Your questions and comments are always welcome.

This post - Bonita Springs Homes Market Statistics – October 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.