Estero real estate market update for homes – January

Prices:

Median Sold price for Estero single-family homes decreased 3.8 percent in the year over year comparison (January 2016 to January 2017) from $368,000 to $354,000. (The Median Sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

The median home sold price of homes in Estero thus far in 2017 is $354,000. Last year the median sold price was $350,000. The median sold price has increased 1.1 percent.

Median sold price for January was $354,000. The median sold price decreased $15,250 from the previous month’s median sold price of $369,250 or 4.1 percent.

The graph below shows the median sold price for homes by year from 2006 to 2017.

Median sold price percentage change from the prior year:

• 2017 – + 1.1
• 2016 – + 2.9
• 2015 – +15.7
• 2014 – + 6.9
• 2013 – +16.5

Historical Price Perspective:

In 2006, the height of the real estate market, the median sold price of a home was $419,900. The current median sold price for 2017 is $354,000. The median sold price is 15.7 percent below the peak.

Single-family home prices bottomed in 2011 when the median sold price was $210,000. As noted above, in 2017 the median sold price has been $354,000. This represents an increase of 68.6 percent since the bottom of the market.

49 homes sold in January 2017. In January 2016 36 homes sold. 58 homes sold in December 2016.

Volume of Listings:

The number of Estero homes for sale at end of January was 373, up from the previous month’s 334. In January of 2016, there were 300 homes for sale.

Months of Inventory:

Estero homes for sale are 6.6 months of inventory to be sold. (Sellers’ market exists when months of inventory are less than 6 months. Buyers’ market occurs when months of inventory exceed 6 months.) The previous month had an inventory of 6.0 months. Last year the months of inventory to be sold was 5.7 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.

Distressed Properties:

Homes classified as distressed properties (potential short sales and foreclosures) – 6 or 1.6 percent of the total market – 1 (0.3 percent) is a potential short sale and 5 (1.3 percent) are foreclosed or REO (real estate owned) properties.

Looking Forward:

New listings for homes coming on the market in January 2017 – 128 with a median list price of $402,450 compared to last year’s January figure of 141 with a median list price of $390,000 or a increase of 3.2 percent. The previous month 83 homes with a median list price of $406,875 came onto the market.

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

If you missed last month’s report – click on this link – Estero Homes Real Estate Market Update.

The data came 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 - Estero Homes Market Statistics – January 2017 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.