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Bonita Springs Real Estate Update – Condos – May 2017

Bonita Springs Condos Market Statistics – May 2017

Median sold price for Bonita Springs Condos increased 6.0 percent in the year over year comparison (May 2016 to May 2017) from $251,000 to $266,000. (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 $260,000. Last year the median sold price was $250,000.

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

Median Sold Prices by Year for Bonita Springs Condos

Median Sold Prices by Year for Bonita Springs Condos

Bonita Springs Condos Percentage Change from Prior Year - May 2017

YEAR% CHG
2017+ 4.0
2016+ 4.5
2015+ 4.0
2014+ 10.6
2013+ 3.5

Median sold price for May was $266,000. The median sold price increased $16,560 over the previous month’s median sold price of $249,440 or 6.6 percent.

110 condos sold in May, versus May 2016 when 94 sold. In the previous month, 115 sold.

The median sold price for condos in the Bonita Springs area remains 32.5 percent below the market peak in 2006 when the price was $385,000. The current median sold price is $260,000.

Condominium prices bottomed in 2010 when the median sold price was $169,000. As noted above, in 2017 the median sold price has been $260,000. This represents an increase of 53.8 percent since the bottom of the market.

The number of Bonita Springs condos for sale was at the end of May was 527, down from the previous month’s 591. Last May, 493 condos were for sale.

Overall, there are 6.7 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 decreased from April’s 7.7 months. Last May showed 6.1 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 1.3 percent of the total market –2 (0.4 percent) is a potential short sale and 5 (0.9 percent) are foreclosed or REO (real estate owned) properties.

Number of Listings and Months of Inventory by Price Range for Bonita Springs Condos

Number of Listings and Months of Inventory by Price Range for Bonita Springs Condos

New listing for condos coming on the market in May 2017 – 93 with a median list price of $263,675, last year’s May figure was 116 with a median list price of $272,220. The previous month 134 condos with a median list price of $277,700 were listed for sale.

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 – May 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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Bonita Springs Real Estate Update – Condos – May 2017

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