Bonita Springs Condos for Sale Inventory
Before making a decision to selling or buy a condo in Bonita Springs it is important to know and understand the months of inventory available for sale within Bonita Springs. As a seller you want to know how many condos are competing with you for the prospective buyers looking at condos, as well as how aggressive you need to be with your list price. As a buyer you want to know how large a selection of condos are on the market and if you can great a great deal on a condo. The months of inventory will assist you in determining if now is an appropriate time to list your condo or purchase a condo at a great price. The months of inventory represents how long it will take to sell the number of condos on the market at the rate of closed sales based upon the average over a period of 12, 9, 6, or 3 months.
- Bonita Springs Condos for Sale Months of Inventory
The key indicator watched is the 12 month moving average as it eliminates seasonal fluctuations in listings and closed sales. The months of inventory in February was 41 months versus at the end of September where 28 months were on the market.
The 9 month moving average reflects the number of months based upon the most recent 9 months of closed sales and the number of listings at a given point of time (at the end of the month, in this case September). This helps to identify if condos are being sold at a faster rate over the past 9 months or if fewer condos are coming on the market. The slight upward trend reflects a slight increase in the number of condos on the market and decreasing number of closed sales. In February the months of inventory was 46 months. At the end of September the months of inventory was 26 months.
The 6 month moving average reflects the number of months based upon the most recent 6 months of closed sales and the number of condos available for sale at the end of September. The upward trend reflects a slight increase in the number of listings, with a decrease in the volume of sales. During July and August the months of inventory was static at 22 months. Over the past 6 months the months of inventory decreased from 30 months to its present level of 25 months.
The 3 month moving average reflects the number of months based upon the most recent 3 months of closed sales and the number of condos available for sale at the end of September. The upward trend is caused by an increase in listings and lower closed sales over the immediate past 3 months. 3 months ago the months of inventory was at 23 months, while its present level is 32.
The lowering in the months of inventory of condos for sale under the 12 month moving average formula reflects a strengthening of the real estate market for Bonita Springs condos, while the other averages show more seasonal fluctuations. At the end of October, the months of inventory, may show an upward trend due to the historical statistics showing an increase of listings coming on the market in anticipation of the selling season. The selling season in the southwest Florida area is almost the opposite of other parts of the country, where Spring and Summer, are the highest selling months.
A neutral market is around 6 months of inventory, therefore, the Bonita Springs real estate market for single family homes remains a buyers market.
