Bonita Springs real estate market update for condos – November

Median Sold Price for Bonita Springs Condos increased 12.3% in the year over year comparison (November 2014 to November 2015) from $214,650 to $241,000.

The median sold price of condos in Bonita Springs during 2015 is $239,000. Last year the median sold price was $230,000. The median sold price has increased 3.9%.

The median sold price for condos in the Bonita Springs area remains 37.9% below the market peak in 2006 when the price was $385,000. The current median sold price is $239,000.

The graph below shows the median sold price for condos by year from 2004 to 2015.

(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 has increased 3.9% from 2014. In 2014, the price appreciation was 10.6% from 2013. In 2013 the price appreciation was 3.5% from 2012.

Condo prices bottomed in 2010 when the median sold price was $169,000. As noted above, in 2015 the median sold price has been $239,000. This represents an increase of 41.4% since the bottom of the market.

Median sold price for November was $241,000. The median sold price decreased $3,900 over the previous month’s median sold price of $244,900 or 1.6%.

The number of Bonita Springs condos for sale was at the end of November was 357, up from the previous month’s 340. Last November, 374 condos were for sale.

New listing for condos coming on the market in November 2015 – 118, last year’s November figure was 135. The previous month 121 condos were listed for sale.

66 condos were sold in November, versus November 2014 when 58 were sold. In the previous month, 73 were sold.

Overall, there are 4.0 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 October’s 3.8 months. Last November showed 4.2 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) – 10 or 2.8% of the total market – 4 (1.1%) are potential short sales and 6 (1.7%) 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 Condos Market Trends – November 2015 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.