Bonita Springs real estate market update for condos – December

Pricing

Median sold price for Bonita Springs Condos decreased 5.3 percent in the year over year comparison (December 2015 to December 2016) from $244,115 to $231,230.

The median sold price of condos in Bonita Springs during 2016 is $250,000. Last year the median sold price was $239,140. The median sold price has increased 4.5 percent.

In 2016, the median sold price increased 4.5 percent. The median sold price for a condo in the Bonita Springs area increased 4.0 percent, in 2015. For calendar year 2014, the increase was 10.6 percent over 2013. In 2013, the sold prices increased 3.5 percent over 2012.

The median sold price for condos in the Bonita Springs area remains 35.1 percent below the market peak in 2006 when the price was $385,000. The current median sold price is $250,000.

Condominium prices bottomed in 2010 when the median sold price was $169,000. As noted above, in 2016 the median sold price has been $250,000. This represents an increase of 47.9 percent since the bottom of the market.

The graph below shows the median sold price for condos by year from 2006 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.)

Median sold price for December was $231,230. The median sold price decreased $970 over the previous month’s median sold price of $232,200 or 0.4 percent.

Listings

The number of Bonita Springs condos for sale was at the end of December was 522, up from the previous month’s 507. Last December, 370 condos were for sale.

New listing for condos coming on the market in December 2016 – 113 with a median list price of $288,000, last year’s December figure was 100 with a median list price of $289,900. The previous month 132 condos with a median list price of $279,700 were listed for sale.

74 condos were sold in December, versus December 2015 when 86 were sold. In the previous month, 62 were sold.

Months of Inventory

Overall, there are 6.8 months of inventory for Bonita Springs condos. (Sellers’ market exists when months of inventory are less than 6 months. Buyers’ market occurs when months of inventory exceed 6 months.) The number of months of inventory increased from November’s 6.6 months. Last December showed 4.2 months of inventory.

The table below shows the number of condos 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.

Distressed Properties

Condos for sale classified as distressed properties (potential short sales and foreclosures) – 7 or 1.4 percent of the total market –4 (0.8 percent) is a potential short sale and 3 (0.6 percent) are foreclosed or REO (real estate owned) properties.

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

In case you missed last month’s report – click on this link – Bonita Springs Condos 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 Condos Market Statistics for December 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.