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Taking a Look at the February Bonita Springs Real Estate Report

As we enter spring, the area’s real estate scene continues to grow. And as the weather heats up, so does the market for homes here in Bonita Springs. The Bonita Springs – Estero Association of Realtors (BEAR) released its monthly report for February 2014 and shared a slate of insightful statistics concerning the real estate market. Buyers and sellers alike can use these stats to glean some insight into whether to buy or sell in a fast-moving market, especially in a vibrant and active area like ours. One stat that jumps off the page is with the median sales price for the area. Last year, in February 2013, the median sale price stood at $270,000. Now, it is a staggering 14.3% higher at $308,500! Such an impressive increase is due to more buyers in the market fighting over fewer homes, as the number of active listings declined by 57% over the past year. Inventory also fell; we’re now at 4.3 months supply of inventory compared to 9.9 a year ago. In fact, a clear trend has emerged: fewer homes are being listed and sold, which is cutting down on supply, which is driving up prices. If you’re a seller or a potential seller, you’re in a great position. We are definitely in a seller’s market with Bonita Springs real estate, a market that let sellers receive 90.8% of their original list price last month when they sold. If you’re a buyer, you might need to move quickly; next month could see more of the same. If you need help or consultation concerning your next real estate decision, feel free to contact me – and take the next step toward your real estate dreams!