Monthly Indicators Point to an Active Winter Selling Season in Bonita Springs and Estero

Bonita Springs, FL | September 25, 2020 —— According to the Bonita Springs-Estero REALTORS^® (BER), buyer demand still continues in the Bonita Springs and Estero residential real estate market.  Area brokers have reported that buyers are challenged with finding homes to buy, as inventory for resale homes continue to shrink.  “If you’re thinking of selling your single-family home, there is no better time than right now, “stated Angela Parker, Broker/Owner, Local Real Estate, Bonita Springs. “Since the onset of the pandemic, we’re seeing higher demand for larger homes, like three or four-bedroom homes,” she added.  Additionally, approximately 50 percent of students in Lee County are participating in Lee Connect Online as opposed to attending class in person, adding to the urgency to upsize to larger homes. While condominiums are increasing or staying flat in the days on market, the number of days to sell have decreased for single-family homes by 16.8 percent versus August of 2019.  

For new construction homes, the cost of builder materials have increased due to a lumber shortage and fires in the Western U.S., prompting buyers to seek out resale homes.  “Currently, there is an 8-12 month waiting time for a new build,” stated Adam Ruud, Managing Broker, Domain Realty, Bonita Springs . “ Right now, buyers are giving additional consideration to resale properties due to the longer wait time and a cost increase on materials,” Ruud added.  With limited resale inventory, area brokers advise not waiting to make an offer for risk of losing a first choice property.  Also, if buyers have their heart set on a new build, it’s critically important that their real estate agent accompanies them from the very first visit, properly registering with the builder. 

For sellers who do not want to list now, they may be missing a golden opportunity.  Jerry Murphy, Managing Broker, Downing-Frye Realty, Bonita Springs stated, “If your property is a single-family home with three or more bedrooms and you want to sell, now is the time for you to list your property because these homes are in high demand right now.  He adds, “If you wait, you may be disappointed.”   The market is still seeing an influx of buyers from the Northeast and Midwest United States, and if Canada lifts their Covid-19 safety ban of entry into the United States prior to the beginning of 2021, the demand could increase more.  For sellers who want to remain competitive with new construction homes, now is the time to consider upgrading outdated décor, as there will be buyers who don’t wish to wait 8-12 months for a new build. 

With buyer demand continuing to increase, area brokers continue to use virtual tools to close transactions and apply safety measures to keep buyers and sellers protected.  “No matter where you reside, if you’re looking to buy in Southwest Florida, we can assist you safely and effortlessly,” stated Dena Wilcoxen, REALTOR®, Berkshire Hathaway HomeServices Florida Realty and 2020 BER President. 

In August 2020, there were a combined total of 71 price repositions for both condominiums and single-family homes.  Additionally, Realtor.com reported over 18 million home search page views in August 2020. The Bonita Springs-Estero REALTORS^® August 2020 Report shows these overall findings for both single family and condominiums combined.   

	Month over Month	Month over Month	% Change
	8/2019	8/2020
New Listings	282	385	36.5
Pending Sales Units	231	422	82.7
Closed Sales Units	243	317	30.5
Median Closed Price	$305,000	$335,500	9.8
Average Days on Market	107	89	-16.8
YTD	2019	2020	% Change
New Listings	3,108	3,157	1.6
Pending Sales Units	2,408	2,590	7.6
Closed Sales Units	2,347	2,307	-1.7
Median Closed Price	$299,000	$318,780	6.6
Average Days on Market	95	81	-14.7
* Current Active Inventory	1,355	1,115	-177
Months’ Supply of Inventory	5.0	3.8	-24.0

To ensure your next real estate transaction in the Bonita Springs or Estero market is a success, contact a Bonita Springs – Estero REALTOR^® member by visiting BonitaEsteroRealtors.com. 

*Inventory calculations are based on property listings that exist within the Southwest Florida MLS.  Only properties in zip codes 33928, 34134 and 34135 are included.  Single family homes are tabulated with the building design of single family, villa detached, or manufactured with land conveyed.  Condo units are tabulated using properties with a building design of low-rise, mid-rise, high-rise or villa attached.  

The Bonita Springs-Estero REALTORS’^® Multiple Listing Service (MLS) syndicates to LISTHUB, which distributes to 2,000+ real estate search websites. 

Founded in 1966, the Bonita Springs-Estero REALTORS^® is a local trade organization of over 950 REALTORS^® and more than 120 affiliated industry members. Bonita Springs-Estero REALTORS^® is part of the National Association of REALTORS^® and Florida REALTORS^® and provides its members with a wide range of services designed to educate and empower members and consumers alike through the opportunity to sell or purchase real property.  It also provides the public with up-to-the-minute real estate reports, trends and information about the Bonita Springs and Estero real estate market.