The Bonita Springs real estate market update continues to show subtle but positive signs of improvement as the number of homes coming on the market for sale are less than in the immediate previous two years and more homes were sold in 2008 than in 2007.
New Listings: During February 2008 a total of 136 Bonita Springs single family homes were listed for sale. The February 2008 reflects a reduction of new listings coming on the market from 193 homes in 2007 and 213 homes in 2006. The absorption rate for the new listings is 4.4 months, lower than 6.7 in 2007 and 5.5 in 2006. The lower absorption rate generally the faster homes are apt to sell. The lower number of listings this year compared to previous years represents a strengthening within the Bonita Springs real estate market for homes.
Pending Sales: During the month of February, 50 homes went under a sales contract. In previous years 59 homes were pending sale during the month of February. Pending sales for homes in Naples and Estero saw an increase over 2007.
Median Sold Price: The median sold price for a single family home in Bonita Springs was $450,000, which was a reduction of about 25% from the 2007 median price of $600,000 and about 24.3% from the median price of $595,000 for sold homes in 2006.
Closed Sales: During February, 31 homes were sold versus 29 in 2007 and 39 in 2006.
Currently, 1201 homes are available for sale in Bonita Springs or about 33 months of inventory based upon the average monthly closed sales over the immediate past 12 months.
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