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Estero Real Estate Update – Homes – February 2017

Estero Homes Market Statistics – February 2017

Median Sold price for Estero single-family homes increased 11.7 percent in the year over year comparison (February 2016 to February 2017) from $357,000 to $417,500. (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 $382,000. Last year the median sold price was $350,000. The median sold price has increased 9.1 percent.

Median sold price for February was $417,500. The median sold price increased $63,500 from the previous month’s median sold price of $354,000 or 17.9 percent.

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

Estero Homes Market Statistics - February 2017 - Median Sold Prices for Estero Homes by Year

Median Sold Prices for Estero Homes by Year

Median sold price percentage change from the prior year:

  • 2017 – + 9.1
  • 2016 – + 2.9
  • 2015 – +15.7
  • 2014 – + 6.9
  • 2013 – +16.5

Historical Pricing 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 $382,000. The median sold price is 9.0 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 $382,000. This represents an increase of 81.9 percent since the bottom of the market.

Listings and Months of Inventory:

The number of Estero homes for sale at end of February was 390, up from the previous month’s 373. In February of 2016, there were 320 homes for sale.

Estero homes for sale are 6.9 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 6.6 months. Last year the months of inventory to be sold was 6.2 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.

Estero Homes Market Statistics - January 2017 - Number of Listings and Months of Inventory by Price Range for Estero homes

Number of Listings and Months of Inventory by Price Range for Estero homes

34 homes sold in February 2017. In February 2016 36 homes sold. 49 homes sold in January.

Distressed Properties:

Homes classified as distressed properties (potential short sales and foreclosures) – 5 (1.3 percent) are foreclosed or REO (real estate owned) properties.

Forward Looking:

New listings for homes coming on the market in February 2017 – 100 with a median list price of $377,000 compared to last year’s February figure of 113 with a median list price of $379,000 or a decrease of 0.5 percent. The previous month 128 homes with a median list price of $399,700 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 Real Estate Update – Homes – February 2017 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.



This post first appeared on Naples Real Estate Blog - News And Market Trend Statistics -, please read the originial post: here

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Estero Real Estate Update – Homes – February 2017

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