Estero Condos for Sale Inventory
As a seller you want to know how many Estero condos are competing with you for the prospective buyers looking at Estero 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 actual number of Estero condos for sale increased from August to September, with condos for sale decreased by only 2 condos. The total available condos was 307 in August versus 305 at the end of September. However, due to the level of closed sales the months of inventory for Estero condos for sale has remained at a stable level at September’s 15 months from August’s 14 months. Since the beginning of February 2008 with 38 months of inventory, the months have dropped an outstanding 23 months to its present level. The reader should review the graph as not only does it measure the months of inventory (adsorption rate) based upon a 12 month moving average, but reflects the 3, 6, and 9 month moving average.
- Estero condos for sale months of inventory
The real estate market for Estero condos still remains a buyers market due to the present 15 months of inventory. A neutral market is generally around 6 months of inventory.
Below is a discussion of the meaning for the various absorption rates and how they may influence your decision for selling or buying real estate in the Estero real estate market.The 3, 6, or 9 month moving average reflects the relationship of closed sales over the immediate past three, six or nine months and the number of Estero homes on the market for sale.
When the trend line for these moving averages decline it is the result of an increase in closed sales with a constant level of condos available for sale or a constant number of closed sales with a declining number of condos for sale. A decreasing trend line represents movement towards a sellers market.
An increasing trend line reflects a lower volume in closed sales with a constant level of condos available for sale or a constant number of closed sales with an increasing number of condos for sale. An increasing trend line represents a movement toward a buyers market.
In the above graph the trend lines are moving overall in a downward trend, due to the listings constantly declining, except in June, even though closed sales have either remained constant over past four months, but down from previous other months earlier in the year.
Trends over a short period of time can be misleading due to seasonal fluctuations for new listings, which become available for sale, or closed sales.
The months of October and January generally are the highest months for new listings.
Shortly, the Estero real estate market update report for Estero homes covering both the month and quarter ended September 30, 2008 will be posted within this blog.
