Bonita Springs real estate market update for homes – November

Median sold price for single-family homes increased 16.4 percent in the year over year comparison (November 2015 to November 2016) from $350,000 to $407,500.

The median sold price of homes in Bonita Springs during 2016 is $395,000. Last year the median sold price was $392,633. The median sold price has increased 0.6 percent.

Median sold price for November was $407,500. The median sold price increased $51,500 over the previous month’s median sold price of $356,000 or 14.5 percent.

So far, in 2016, the median sold price increase has been 0.6 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 November was 538, while in October there were 524 homes for sale. In November 2015 417 homes were for sale in Bonita Springs.

The median sold prices remains 24.8 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 $395,000. This represents an increase of 75.6 percent since the bottom of the market.

88 homes were sold in November, last November 55 homes were sold. 67 homes were sold in the month of October.

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.) The same as last month’s 6.7 months and up from last November’s 4.7 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.

Listing Comparison

New listings for homes coming on the market in November 2016 – 137 with a median list price of $469.000, compared to last year’s November figure of 110 with a median list price of $477,450. During October, 171 homes were listed for sale with a median list price of $449,000.

Distressed Properties Market Composition

Homes classified as distressed properties (potential short sales and foreclosures) – 4 or 0.8 percent of the total market – 2 (0.4 percent) is a potential short sale and 2 (0.4 percent) and are foreclosed or REO (real estate owned) properties.

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 – November 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.