Bonita Springs Homes for Sale Inventory
Before making a decision to selling or buy a home 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 properties are competing with you for the prospective buyers looking at homes, 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 homes are on the market and if you can great a great deal on a home. The months of inventory will assist you in determining if now is an appropriate time to list your home or purchase a home at a great price. The months of inventory represents how long it will take to sell the number of homes 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 months of inventory homes for sale.
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 33 months versus at the end of September where 25 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 homes are being sold at a faster rate over the past 9 months or if fewer homes are coming on the market. The downward trend reflects a reduction in the number of homes on the market and increasing number of closed sales. In February the months of inventory was 39 months. At the end of September the months of inventory was 23 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 homes available for sale at the end of September. The upward trend reflects a slight dip in the number of listings, with a slight decrease in the volume of sales. Between June and September the months of inventory has been running between 22 and 21 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 homes available for sale at the end of September. The upward trend is caused by the slight increase in listings and lower closed sales over the immediate past 3 months.
The lowering in the months of inventory of homes for sale under the 12 month moving average formula reflects a strengthening of the real estate market for Bonita Springs homes, 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.
Previous posts discussing the months of inventory:
Bonita Springs Market Update Homes - August 2008
Bonita Springs Home Market Update - June 2008
