Bonita Springs Real Estate Market Slows in March
Posted by Benjamin Dona on Monday, April 28th, 2014 at 10:56am.
The Bonita Springs real estate market we've been predicting for months now looks as if it is coming into being. The closed sales for March of 2014 are down by 37.8% in a year over year comparison. Many experts were saying our sales would slow due to rising prices. However, with active listings declining by 41.3% year over year – it appears the lack of inventory is more of the culprit that we are seeing on a daily basis as the year moves forward. There is just too little inventory available for buyers to choose from, especially in the more affordable price ranges.
Bonita Springs’ average home sale prices were up by 8.2% to $469,834 over the same time period (March, 2013 to March, 2014). Condominiums are up to $276,578 on average, which is a 5.7% rise year over year. Our median days on market are averaging right around 50 days; we just do not have enough property to sell. Buyer interest remains strong and as usual, we are just as busy now after season has ended, as we were during the peak winter months.
All this is good news for sellers. We just need some more of the fence sitters to take the plunge and list their properties for sale!
Sales Data Statistics from SWFL MLS.
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