Estero Condos Market Statistics – June 2017

Median sold price for Estero Condos decreased 2.4 percent in the year over year comparison (June 2016 to June 2017) from $205,000 to $200,000. (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 Estero for 2017 is $205,000. Last year the median sold price was $210,000. The median sold price has decreased 2.4 percent. The graph below shows the median sold price for condos by year from 2007 to 2017.

Median sold price for June was $205,000. The median sold price decreased $3,000 over the previous month’s median sold price of $208,000 or 1.4 percent.

Estero Condos Percentage Change from Prior Year - June 2017

31 condos sold in June, versus June 2016 when 25 sold. During May 2017 57 condos sold.

Historical Perspective:

In 2007, the height of the real estate market, the median sold price of a condo was $317,500. The current median sold price for 2017 is $205,000. The median sold price is 35.4 percent below the peak.

Condo prices bottomed in 2009 when the median sold price was $120,000. As noted above, in 2017 the median sold price has been $205,000. This represents an increase of 70.8 percent since the bottom of the market.

Listings and Months of Inventory:

The number of Estero condos for sale at end of June was 177, the previous month there were 191. Last June there were 123 condos for sale.

Estero condos for sale are 5.8 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.) In May, there were 6.4 months of inventory. Last June there was 5.0 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.

Distressed Properties:

Condos for sale classified as distressed properties (potential short sales and foreclosures) – 3 or 1.7 percent of the total market – 1 (0.6 percent) is a potential short sale and 2 (1.1 percent) are foreclosed or REO (real estate owned) properties.

Forward Looking:

New listings for condos coming on the market in June 2017 – 34 with a median list price of $236,500 compared to last year’s June figure of 39 with a median list price of $234,990 or an increase of 0.6 percent. The previous month’s new listings were 55 with a median list price of $224,900.

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

If you missed last month’s report – click on this link – Estero Condos 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 – Condos – June 2017 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.