Bonita Springs Condos Market Statistics – February 2017

Median sold price for Bonita Springs Condos decreased 6.4 percent in the year over year comparison (February 2016 to February 2017) from $272,400 to $255,000. (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 sold price of condos in Bonita Springs during 2017 is $253,500. Last year the median sold price was $250,000.

Median sold price for February was $255,000. The median sold price increased $5,000 over the previous month’s median sold price of $250,000 or 2.0 percent.

The graph below shows the median sold price for homes by year from 2007 to 2017.

Median sold price percentage change from the prior year:

• 2017 – + 1.4
• 2016 – + 4.5
• 2015 – + 4.0
• 2014 – +10.6
• 2013 – + 3.5

Historical Pricing Perspective:

The median sold price for condos in the Bonita Springs area remains 34.2 percent below the market peak in 2006 when the price was $385,000. The current median sold price is $253,500.

Condominium prices bottomed in 2010 when the median sold price was $169,000. As noted above, in 2017 the median sold price has been $253,500. This represents an increase of 50.0 percent since the bottom of the market.

New listing for condos coming on the market in February 2017 – 150 with a median list price of $279,900, last year’s February figure was 179 with a median list price of $269,900. The previous month 218 condos with a median list price of $269,000 were listed for sale.

81 condos sold in February, versus February 2016 when 66 sold. In the previous month, 49 sold.

The number of Bonita Springs condos for sale was at the end of February was 624, up from the previous month’s 611. Last February, 462 condos were for sale.

Overall, there are 8.2 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 January’s 8.1 months. Last February showed 5.5 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.

Condos for sale classified as distressed properties (potential short sales and foreclosures) – 7 or 1.2 percent of the total market –1 (0.2 percent) is a potential short sale and 6 (1.0 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 Real Estate Update – Condos – February 2017 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.