Estero real estate market statistical update for homes – May

Median Sold Price for single-family homes decreased 11.5% in the year over year comparison (May 2015 to May 2016) from $379,159 to $335,500.

The median home sold price of homes in Estero thus far in 2016 is $352,500. Last year the Median Sold price was $340,000. The median sold price has increased 3.7%.

Median sold price for May was $335,500. The median sold price decreased $19,500 from the previous month’s median sold price of $355,000 or 5.5%.

The graph below shows the median sold price for homes by year from 2006 to 2016.

(The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

The number of Estero homes for sale at end of May was 339, up from the previous month’s 333. In May of 2015, there were 188 homes for sale.

So far, in 2016, the median sold price increase has been 3.7%. In 2015, the median sold price increased 15.7% over 2014. During calendar year 2014, the median sold price for a home in Estero increased 6.9% from 2013. In 2013, the sold prices increased 16.5% over 2012.

60 homes were sold in May 2016. In May 2015 67 homes were sold. 64 homes were sold in April 2016.

New listings for homes coming on the market in May 2016 – 98, compared to last year’s May figure of 90. The previous month 99 homes came onto the market.

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 2016 is $352,500. The median sold price is 16.1% below the peak.

Single-family home prices bottomed in 2011 when the median sold price was $210,000. As noted above, in 2016 the median sold price has been $352,500. This represents an increase of 67.9% since the bottom of the market.

Estero homes for sale are 6.5 months of inventory to be sold. (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 6.3 months. Last year the months of inventory to be sold was 3.4 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.

Homes classified as distressed properties (potential short sales and foreclosures) – 5 or 1.5% of the total market – 1 (0.3%) is a potential short sale and 4 (1.2%) are foreclosed or REO (real estate owned) properties.

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 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 - Estero Homes Market Statistics – May 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.