Preliminary statistics for the month of April for the Bonita Springs real estate market shows the local market is continuing to recover. The market is showing a decline in the months of inventory available for sale, pending sales increasing, and closings increasing in a year over year analysis. The median sold price for Bonita Springs homes increased from last April, while Bonita Springs condos showed a reduction. The buyers’ market is remains; however, it continues to erode.
Homes available for sale, as of April 30 – totaled 790. Of this total 112 were potential short sales, and 29 were foreclosures. This translates to 13.6 months of inventory (normal market is between 5 and 7 months) versus last year 23.6 months and last month’s 14.4 months. This statistic most clearly reflects the higher level of sales activity of homes in the Bonita Springs area. A 12 month moving average is used to calculate the closed sales, which is divided into the currently available homes for sale.
A total of 84 homes closed in April. Last April a total of 70 homes were closed.
Pending sales for the month of April was 108 homes versus last April’s figure of 73 homes.
The median sold price for a single family home in the Bonita Springs in April was $345000 in a year over year comparison April 2009 saw the median sold price at $294950.
An indicator of future closed sales in addition to the current month’s pending sales is the total number of pending sales. The total number of pending sales includes not only the current month (108), but also an accumulation of those homes which have not yet closed from previous months. The total pending sales as of the end of April was 203 homes. Of the 203 homes, 86 were potential short sales and 91 were foreclosed homes (bank/lender owned).
Condos available for sale as of April 30 – totaled 840. Of this total 67 are potential short sale condos and 18 are foreclosures. This translates to 14.5 months of inventory versus last year’s 28.6 months and the previous month’s 15.2 months of inventory.
A total of 94 condos closed in April versus last April where 66 condos were sold.
Pending sales for the month of April was 96 versus last April’s figure of 64.
The median sold price for a condo in the Bonita Springs area was $220000 compared to last year’s median of $231500.
An indicator of future closed sales in addition to the current month’s pending sales is the total pending sales. In April a total of 203 condos were pending sale. Of this number, 109 were potential short sales and 79 foreclosures.
The statistics used for this post were taken from the Sunshine MLS on April 1st using data obtained for the month of April. The April data is preliminary at this time, the final statistics are generally available on the fifth business after the end of the previous month.