Monday, November 27, 2017 / by Hunter Habib
As we know, sales activity in the Bonita Springs and Estero markets experienced a short pause during September 2017 due to Hurricane Irma, but is now showing increased current sales and pending activity with those temporarily withdrawn listings back on the market. Many closings that were delayed by the storm, are now rescheduled. We’re not seeing any lost deals as a result of the storm and we’ll likely see an uptick in pending and closed units next month. Additionally, now that some of the debris has been cleared away from many communities, buyers have full access to open houses once again for resale homes.
There has also been an increase in buyer inquiries for new construction homes. Close to year-end, coupled with the short post-storm delay, have afforded buyers many attractive deals for new construction homes right now. Builders are offering amazing incentives, but the best deals are secured when buyers are accompanied by REALTORS® who are negotiating on their behalf, ensuring no money is left on the table.
Overall, Bonita Springs and Estero are seeing stability in the market according to 12-month ending figures. The number of pending units for single-family homes and condominiums combined remained stable with a 4 percent increase over prior year. Closed units saw a 7 percent increase over prior year as well. The month-over-month figures do reflect a pause as a result of the storm. However, overall market continued stability can be seen in the 12-month ending figures. The 12-month ending median price also remains stable with just a 4 percent decrease over prior year. Additionally, the market continues to see overpriced listings with new price reductions reflective of fair market value. All of the figures can be seen here: http://bonitaesterorealtors.com./market-reports/
If you’re interested in new construction, a resale purchase, or if you want to sell your property, let Paradise Real Estate Group help you assess your pricing and develop a winning strategy, ensuring the best possible outcome. Here is a handy list of unique sales tools we provide our buying and selling clients. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!
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Let us help guide you through current market conditions and assist in making the best decisions for the purchase or sale of your Southwest Florida property!