The new listings for the month of March 2009 were 64 condos in the Estero area. The number of condos listed in March 2008 was 55. The increase of new listings of condos was 16 percent. In March 2007, the new listings were 71, representing a drop of 7 condos or decline of 10 percent.
In February 2009 the new listings were 52.
Of the 64 condos listed approximately 42 percent were potential short sales, 8 percent were foreclosed (bank owned), and the remaining 50 percent were traditional listings.
Median list price for potential short sales was $134000,foreclosed properties were $72500, and traditional listings were $269900.
In the month of March 2009 the sale of condos were 15. In March 2008 a total of 27 condos were sold. The year over year was 56 percent decrease. In March 2007 a total of 12 condos were sold. The increase over 2007was 3 condos or about a 25 percent.
Of the 15 condos sold, approximately 6 percent were approved short sales, 25 percent were foreclosures, and the traditional sales were 69percent.
The breakdowns of the median sold prices are discussed in the median sold price section below.
During March 2009 a total of 41 condos had an offer accepted by the seller. In March 2008, 18 condos were pended. The increase from March2009 represents an increase of 23 condos or about 56 percent.
In March 2007 a total of 21 condos were pending sale. The increase between March 2009 and March 2007 was 20 condos or about 95 percent.
Median Sold Price:
During the month of March 2009, the median sold price of a condo in Estero was $132900. The median price is the sold price represents the middlevalue of the all sold prices within a stated range. The median sold price can vary from area to area within a local real estate market.
In March 2008, the median sold price was $290000. In the year over year comparison median sold price declined $157100 or roughly 54percent.
In March 2007 the median sold price was $228000. In comparing March 2007 to March 2008 the price declined $95100 or about 42percent.
Median sold price for approved short sales was $66500,foreclosed properties were $66050, and traditional listings were $170000.
The difference between the list price and sold price forapproved sales was about 78 percent, foreclosed properties 97 percent, andtraditional listings 90 percent.