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Estero Real Estate Sales Update - January to September 2008

Posted by Benjamin Dona on Tuesday, October 28th, 2008 at 3:59pm.

The January thru September Estero real estate market statistics for both home and condominium sales are listed below. Estero is ideally located between Ft. Myers and Bonita Springsand is currently in the process of building and developing wherever you travel in the area. Developers are offering every type of community you can imagine, from large gated and planned communities, to smaller town centre type projects where the amenities are built around a self-contained lifestyle.

Estero Real Estate Sales Data

Estero Home Sales January-September 2008*:
  • 374 Closed Sales
  • Average Sales Price - $374,174
  • Median Sales Price - $297,225
  • Average Days on Market - 151
  • Price/Square Foot - $160.91
Estero Condominium Sales January-September 2008*:
  • 284 Closed Sales
  • Average Sales Price - $223,102
  • Median Sales Price - $184,500
  • Average Days on Market - 137
  • Price/Square Foot - $147.02

In comparison with 2007 sales data, we saw a 50% increase in the number of home sales and a 91% increase in the number of condominium sales. We also have seen a 15% decrease in the average price for homes and a 26% decrease in the average price for condominiums. Average days on market rose by 10% for homes and by 26% for condominiums. In addition, pending sales for both property types also rose in the month of September and thus will help make for a good beginning to this year's "season"  starting next month. Like many areas in Southwest Florida, you'll find that Estero has an excess of inventory. The upside of all this inventory is that most of it is new construction and the builders are offering numerous upgrades and price concessions. Bella Terra and Rapallo are two of the better known new communities and both offer numerous amenities and a laid back lifestyle. More established communities like Grandezza, Stoneybrook and the West Bay Club also have good buys available as many properties are at prices not seen since 2003. Savvy buyers, with an experienced agent, are finding some really incredible deals. The key is knowing where to look and how best to negotiate on the price.

So, if you are interested in buying or selling a home or condominium in Estero, please contact us and one of our associates will be happy to assist you.

*Sales Data Statistics from the NABOR & SWFL MLS

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About the Author

Gulf Coast Associates, RealtorsBenjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.

Contact Benjamin Dona at 239-948-3955

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