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Estero Real Estate Update – Homes – April 2017

Estero Homes Market Statistics – April 2017

Median Sold price for Estero single-family homes increased 6.6 percent in the year over year comparison (April 2016 to April 2017) from $355,000 to $378,500. (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 $365,000. Last year the median sold price was $350,000. The median sold price has increased 4.3 percent.

Median sold price for April was $378,500. The median sold price increased $26,500 from the previous month’s median sold price of $352,000 or 7.5 percent.

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

Median Sold Price of Estero Homes by Year

Estero Homes Percentage Change from Prior Year - April 2017

YEAR% CHG
2017+ 4.3
2016+ 2.9
2015+ 15.7
2014+ 6.9
2013+ 16.5

50 homes were sold in April 2017. In April 2016 64 homes were sold. 80 homes were sold in March.

Historical 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 $365,000. The median sold price is 13.1 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 $365,000. This represents an increase of 73.8 percent since the bottom of the market.

Listings and Months of Inventory:

The number of Estero homes for sale at end of April was 363, down from the previous month’s 391. In April of 2016, there were 333 homes for sale.

Estero homes for sale are 6.5 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 previous month had an inventory of 6.9 months. Last year the months of inventory to be sold was 6.3 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.

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

Distressed Properties:

Homes classified as distressed properties (potential short sales and foreclosures) – 8 (2.2 percent). 2 (0.6 percent) is potential short sales. 6 (1.6 percent) are foreclosed or REO (real estate owned) properties.

Looking Forward:

New listings for homes coming on the market in April 2017 – 78 with a median list price of $344,500 compared to last year’s April figure of 100 with a median list price of $410,500 or a decrease of 16.1 percent. The previous month 118 homes with a median list price of $391,200 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 – April 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 – April 2017

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