Bonita Springs Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 28, 2020

Private Offerings

123 Futana Lane

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Posted in Communities
May 10, 2020

Sellers, If you want to sell (in any market) you must do these 3 things properly.

There are 3 things that must be done properly in order to successfully cause a sale.

  • Price the property correctly.
  • Market the property effectively (not as easy as it looks and very expensive)
  • Assess the condition and prepare the property for sale.

Today we are going to talk about pricing correctly.

 

If you have ever listed your property for sale and the listing expired (did not sell) you know how frustrating this can be. (In most cases, you can’t move forward until your property sells).

 

To add to your frustration, on the very day your listing expired, your phone probably rang off the hook with calls from Realtors claiming to be ready to get your property sold fast. (Where were all these Realtors last month?)

 

Let’s put things in perspective.

  • Selling real estate is not so easy.
  • As for listings expiring, yours was not the only one. Have a look...

Here are the numbers for last month.

 

In December, 1,019 new listings came on the market.  However, 1,886 listings expired that same month.  The fact is that most people do not price their property correctly and the result is the listing expires.

 

In most cases, the reason someone is looking to sell their property is often triggered by some sort of life event ( a death, divorce, need to downsize, job transfer, upsize, etc). The reason I mention this is because it's important to be objective when setting the price.

 

So how can a seller know they have the correct price to sell their property?

The answer to that question is this.

 

The price has to be supported by closed sales.  Specifically, properties that are similar, ideally in the same neighborhood and the sales should be recent  (6 months +/-).

 

Where can a seller find the information they need to determine the correct price?

 

Well one place sellers can find information is at the county property appraiser website.>>www.collierappraiser.com

 

But here is something to keep in mind.  There is definitely a learning curve to using the website.

Another issue is that the information is not always accurate.  The reason being, is that the property appraiser does not access the interior of the property when they do assessments.  That makes it hard to know if the property has any upgrades or if the property actually matches the county records.

 

Another source of home value information are sites like Zillow (Zestimate).  A Zestimate is really an AVM, an automated value model.  That is a fancy term for an average.  If there are a large number of similar properties that have recently sold in your area, then an AVM might be reasonably close.  However, there are many instances where that is not the case.  In fact, the CEO of Zillow actually sold a property he owned for $1.1 million when the property Zestimate said the value was $1.7million.  

 

Valuing a property is actually as much art form as it is exact science.  

 

How do banks determine the market value of properties they lend money on (mortgages)?

 

Banks hire certified appraisers who use public records such as county property appraiser and county tax records to determine property values.  Appraisers also often use one other source for property value information, and that source is the MLS. The Realtor Multiple Listing Service.

 

In fact the MLS is probably the best source for property value information and here’s why.

  • The majority of sales happen through the MLS.
  • MLS is highly accurate because Realtors usually gain access to the inside of the property and use the upgrades to help sell the property for top dollar.
  • MLS usually has lots of pictures of the interiors.
  • The information is very well organized.

How does a seller access the MLS?

If your property is located in SWFL, you can access the exact information you need here.

www.BonitaSpringsRealEstateHub.com.

  • See properties in your specific neighborhood
  • See Active listings
  • See listings that are under contract
  • See the recent closed sales
  • See pictures of all the properties

Click Here to see sample market report >>> MARKET REPORT

The best way a seller can figure out the correct price to sell their property is to compare it to properties that have recently sold, within close proximity (ideally located in their neighborhood) and in a recent time frame.

Jan. 18, 2020

Bonita Springs FL - Real Estate Market Report - December 2019

Bonita Springs FL Home Sales x Month - December 2019

Bonita Springs FL home sales were up 17.6% in the month of December.  The number of homes sold came in at 160 (Dec 2019), 24 more than the previous month, when home sales were at 136 (Nov 2019).  One year ago, Bonita Springs FL home sales were at 125 (Dec 2018).  Refer to bar graph below.

Bonita Springs FL Home Prices x Price Range - December 2019

According to MLS in December, the average sale price of a home in Bonita Springs FL was $494,661.  The average sale price for the previous month (November 2019) was $416,766.  

In order to put the information regarding home sale prices in a more meaningful context, I have taken the total number of homes sold for the month 160 (November 2019) and broken that number down by price ranges.  Refer to the chart below. 

There was a total of 160 transactions in Bonita Springs in the month of December.

The chart below shows the breakdown of those sales x price ranges.

14.4% of the translations were under $200,000.

44.4% of the transactions were in the price range of $200,000 to $400,000.

23.1% of the transactions were in the price range of $400,000 to $600,000

8.1% of the transactions were in the price range of $600,000 to $800,000

2.5% of the transactions were in the price range of $800,000 to $1,000,000

7.5% of the transactions were in price ranges over $1,000,000.

Bonita Springs FL - Home Sales x Price Range - December 2019

Sale Price # of Homes Sold Percent Percent
$0 - 100 0 0.0%
14.4%
$100 - 200 23 14.4%
$200 - 300 49 30.6%
44.4%
$300 - 400 22 13.8%
$400 - 500 23 14.4%
23.1%
$500 - 600 14 8.8%
$600 - 700 5 3.1%
8.1%
$700 - 800 8 5.0%
$800 - 900 3 1.9%
2.5%
$900 - 1,000 1 0.6%
$1,000+ 12 7.5% 7.5%
Total 160 100.0% 100%

Bonita Springs FL Active Listings x Month - December 2019

Active listings in Bonita Springs FL decreased less than 1% in the month of December.  The number of active listings was 1,124 (Dec. 2019), 8 less than the previous month when the number of active listings was 1,132 (Nov 2019).  One year ago, (Nov 2018) there were 1,341 active listings on the market in Bonita Springs FL.

The number of active listings will likely increase as much as 40% all the way through the 1st quarter of 2020.  This is normal market activity for this time of year.  Refer to the chart below to see the trend beginning to shape up.

Bonita Springs FL - Inventory & Absorption Rate - December 2019

The number of active listings represents the inventory of homes for sale in Bonita Springs FL.  Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes.  

Based on a current inventory of 1,124 active listings or homes for sale in Bonita Springs FL, there are 7 months of inventory.  A 7 month supply of homes available for sale represents a market that favors buyers.

Bonita Springs FL - Market Report Summary - December 2019

 

Statistic November 2019 December 2019 Change
Homes sold 136 160 increase 17.6%
Active Listings 1,132 1,124 decrease less than 1%
Average sale price $416,766 $494,661 *
Lowest sale price $95,000 $104,000 *
Highest sale price $4,900,000 $7,250,000 *
Avg days on market 88 103 increase 15 days
Months of inventory 8 7 decrease 1 month

*Not a measure of market appreciation or depreciation.

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you! Consultations are FREE.

Posted in Market Report
Dec. 23, 2019

Bonita Springs FL - Real Estate Market Report - November 2019

Bonita Springs FL Home Sales x Month - November 2019

Bonita Springs FL home sales were up 5.4% in the month of November.  The number of homes sold came in at 136 (Nov 2019), 7 more than the previous month, when home sales were at 129 (Oct 2019).  One year ago, Bonita Springs FL home sales were at 159 (Nov 2018).  Refer to bar graph below.

Bonita Springs FL Home Prices x Price Range - November 2019

According to MLS in November, the average sale price of a home in Bonita Springs FL was $416,766.  The average sale price for the previous month (October 2019) was $442,443.  

In order to put the information regarding home sale prices in a more meaningful context, I have taken the total number of homes sold for the month 136 (November 2019) and broken that number down by price ranges.  Refer to the chart below. 

There was a total of 136 transactions in Bonita Springs in the month of November.

The chart below shows the breakdown of those sales x price ranges.

17.6% of the translations were under $200,000.

50.7% of the transactions were in the price range of $200,000 to $400,000.

24.3% of the transactions were in the price range of $400,000 to $600,000

2.9% of the transactions were in the price range of $600,000 to $800,000

0.7% of the transactions were in the price range of $800,000 to $1,000,000

3.7% of the transactions were in price ranges over $1,000,000.

Bonita Springs FL - Home Sales x Price Range - November 2019

Sale Price # of Homes Sold Percent Percent
$0 - 100 1 0.7%
17.6%
$100 - 200 23 16.9%
$200 - 300 37 27.2%
50.7%
$300 - 400 32 23.5%
$400 - 500 17 12.5%
24.3%
$500 - 600 16 11.8%
$600 - 700 3 2.2%
2.9%
$700 - 800 1 0.7%
$800 - 900 0 0.0%
0.7%
$900 - 1,000 1 0.7%
$1,000+ 5 3.7% 3.7%
Total 136 100.0% 100%

Bonita Springs FL Active Listings x Month - November 2019

Active listings in Bonita Springs FL increased by 2% in the month of November.  The number of active listings was 1,129 (Nov 2019), 22 more than the previous month when the number of active listings was 1,107 (Oct 2019).  One year ago, (Oct 2018) there were 1,332 active listings on the market in Bonita Springs FL.

The number of active listings will likely continue to increase as much as 40% all the way through the 1st quarter of 2020.  This is normal market activity for this time of year.  Refer to the chart below to see the trend beginning to shape up.

Bonita Springs FL - Inventory & Absorption Rate - November 2019

The number of active listings represents the inventory of homes for sale in Bonita Springs FL.  Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes.  

Based on a current inventory of 1,129 active listings or homes for sale in Bonita Springs FL, there are 8 months of inventory.  An 8 month supply of homes available for sale represents a market that favors buyers.

Bonita Springs FL - Market Report Summary - November 2019

 

Statistic

October 2019

November 2019

Change

Homes sold

129

136

increase 5.4%

Active Listings

1,107

1,129

incease 2%

Average sale price

$442,443

$416,766

*

Lowest sale price

$69,000

$95,000

*

Highest sale price

$3,800,000

$4,900,000

*

Avgerage days on market

103

88

decrease 15 days

Months of inventory

9

8

decrease 1 month

*Not a measure of market appreciation or depreciation.

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you! Consultations are FREE.

Posted in Market Report
Nov. 15, 2019

Bonita Springs FL - Real Estate Market Report - October 2019

Bonita Springs FL Home Sales x Month - October 2019

Bonita Springs FL home sales were flat in the month of October.  The number of homes sold came in at 126 (Oct 2019) same as the previous month, when home sales were at 126 (Sept 2019).  One year ago, Bonita Springs FL home sales were at 125 (Oct 2018).

Bonita Springs FL Home Prices x Price Range - October 2019

According to MLS in October, the average sale price of a home in Bonita Springs FL was $447,426.  The average sale price for the previous month (Sept 2019) was $391,824.  

In order to put the information regarding home sale prices in a more meaningful context, I have taken the total number of homes sold for the month 126 (Oct 2019) and broken that number down by price ranges.  Refer to the chart below. 

There was a total of 126 transactions in Bonita Springs in the month of October.

The chart below shows the breakdown of those sales x price ranges.

18.3% of the translations were under $200,000.

46% of the transactions were in the price range of $200,000 to $400,000.

22.2% of the transactions were in the price range of $400,000 to $600,000

2.4% of the transactions were in the price range of $600,000 to $800,000

4.0% of the transactions were in the price range of $800,000 to $1,000,000

7.1% of the transactions were in price ranges over $1,000,000.

Bonita Springs FL - Home Sales x Price Range - October 2019

Sale Price # of Homes Sold Percent Percent
$0 - 100 2 1.6%
18.3%
$100 - 200 21 16.7%
$200 - 300 36 28.6%
46.0%
$300 - 400 22 17.5%
$400 - 500 19 15.1%
22.2%
$500 - 600 9 7.1%
$600 - 700 1 0.8%
2.4%
$700 - 800 2 1.6%
$800 - 900 4 3.2%
4.0%
$900 - 1,000 1 0.8%
$1,000+ 9 7.1% 7.1%
Total 126 100.0% 100%

Bonita Springs FL Active Listings x Month - October 2019

The number of active listings in Bonita Springs FL was 1,095 in the month of October.  That is 76 more than the previous month (Sept 2019), when the number of active listings was 1019, and represents a increase of 7.5% in the number of active listings on the market.  One year ago, (Oct 2018) there were 1,250 active listings on the market in Naples FL.

The number of active listings will likely continue to increase as much as 40% all the way through the 1st quarter of 2020.  This is normal market activity for this time of year.  Refer to the chart below to see the trend beginning to shape up.

Bonita Springs FL - Inventory & Absorption Rate - October 2019

The number of active listings represents the inventory of homes for sale in Bonita Springs FL.  Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes.  

Based on a current inventory of 1,095 active listings or homes for sale in Bonita Springs FL, there are 9 months of inventory.  A 9 month supply of homes available for sale represents a market that favors buyers.

Summary - October 2019

Bonita Springs FL - Market Report Summary - October 2019

Statistic

September 2019

October 2019

Change

Homes sold

126

126

no change

Active Listings

1,019

1,095

increase 7.5%

Average sale price

$391,824

$447,426

*

Lowest sale price

$80,000

$69,000

*

Highest sale price

$1,970,000

$3,800,000

*

Avgerage days on market

112

103

decrease of 9 days

Months of inventory

8

9

increase 1 month

*Not a measure of market appreciation or depreciation.

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you! Consultations are FREE.

Posted in Market Report
Nov. 12, 2019

Top 5 Amenities luxury buyers want in 2019

Each year brings unexpected twists to many real estate markets — including new spins on what consumers want when buying in the luxury market. Owning a luxury home means enjoying the finer things in life, whether understated or flashy.

Today’s luxury buyer is looking for new technology mixed in with some upgraded features. Here are five amenities high-end buyers will pay top dollar for.

1. Smart-home tech and automation

Buyers today are looking for the same smart technology they have on their mobile devises and in their cars. They expect the best when it comes to technology in their homes, with the ability to control everything from temperature and lighting to entertainment and security — all from one device at the press of a button or a voice command.

Why would they settle for a run-of-the-mill media room when they can have a dedicated home theater designed to their specifications that creates the perfect environment for movie lovers?

Today’s technology makes it easy to create a theater environment complete with surround sound and 4K visuals, plus no dealing with lines or crowds.

Homeowners can also control interior lighting in every room of the home and decide how much natural light they want to bring in with motorized shades

2. Custom features: new meets recycled

A trend we’re seeing a lot in Houston is mixing old with new. Builders are incorporating reclaimed brick and wood to offer homeowners flooring, beams or brick features. These features become beautiful focal points and interesting conversation topics.

Builders and owners are looking for ways to set their properties apart from other homes. Whether importing stone or marble from a distant locale, incorporating reclaimed materials or hiring local craftsmen to create spectacular ceilings and walls, owners leave no detail to chance.

Buyers want architectural elements they can share with others.

3. Show-stopping kitchens

The kitchen has become the modern-day hearth and a must for luxury buyers. After all, the kitchen is often the heart of any home. Luxury homebuyers focus on cabinetry, chef-grade commercial appliances and design.

It doesn’t matter if buyers prefer a sleek or classic country look, today’s kitchen is integrated into other living spaces for entertaining, and it has become a staple in most designs. The open floor plan is great for entertaining, however, it can create challenges as cooking can be a messy business.

So, builders have incorporated secondary kitchens also known as “dirty kitchens” or “catering kitchens” when laying out plans for a luxury home.

Who wants a dirty kitchen when entertaining, or for that matter, ever. These second kitchens are typically located next to the designer version, making them easy to use without sacrificing perfection

Lastly, a kitchen without integrated technology from the ground up is now just another room. Today’s luxury kitchens incorporate refrigerators that alert you when groceries are needed and coffee makers that can be programmed to have owners’ coffee fix ready when they are.

4. Luxury outdoor retreats

More and more buyers are looking to incorporate resort-style luxuries into their homes; after all, when you’re used to the best of the best when traveling, why not bring those luxuries home?

High-end buyers desire luxurious resort-style pools and gourmet kitchens to unwind in after a long day.

Luckily homeowners in Bonita Springs can entertain and enjoy alfresco dining and lounging long after the rest of the country has packed their outdoor furniture away for the winter.

Taking advantage of the mild temperatures, many homes are engineered so indoor spaces such as the living and dining rooms open into courtyards as well as the covered open-air veranda, lanai and terrace

5. Collection garages

Garage space matters, and large garages have become a staple in luxury construction. These extravagant amenities offer homeowners lavishness from the moment they pull into their garages.

If homebuyers want to create a showroom for their car collection or incorporate a man-cave into their home, there are really no limits on what can be done.

The one thing you can guarantee is that luxury homebuyers are looking at all the finer things, indoors and outdoors, and an excellent agent knows just how to find, or create, what his or her luxe buyers desire.

Article: Shari Mattern
Nov. 4, 2019

Bonita Springs FL - Market Activity x Week - (10/27 - 11/02)

Posted in Market Updates
Oct. 13, 2019

Bonita Springs FL - Market Activity x Week - (10/6 - 10/12)

Bonita Springs, FL real estate market activity (10/5 - 10/13)

The image above shows Bonita Springs, FL real estate market activity for the past week (10/6 - 10/12). 

Active - 50 properties came on the market.  

Pending - 36 properties went under contract. 

Sold - 20 properties closed.

Graph - Bonita Springs FL - Market Activity x Week - (10/6 - 10/13)

Some people think the summer months are not a good time to list their property for sale.  However, the numbers show a totally different story.  The fact is, that the summer months are a very good time to get your property on the market and get it sold.

The number one reason why most properties don't sell is due to over-pricing.  For the most part, sales are driven by correct pricing (market value) and not by season.  A property will not sell if it isn't on the market.  A property that is well priced, will be recognized as such and sell.

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you!

Posted in Market Updates
Oct. 13, 2019

Bonita Springs FL - Real Estate Market Report - September 2019

xxx

Posted in Market Updates
Oct. 10, 2019

Bonita Springs FL - Market Activity x Week - (9/29 - 10/5)

Bonita Springs, FL real estate market activity (9/29 - 10/5)

The image above shows Bonita Springs, FL real estate market activity for the past week (9/29 - 10/5). 

Active - 69 properties came on the market.  

Pending - 19 properties went under contract. 

Sold - 32 properties closed.

Graph - Bonita Springs FL - Market Activity x Week - (9/29 - 10/5)

Some people think the summer months are not a good time to list their property for sale.  However, the numbers show a totally different story.  The fact is, that the summer months are a very good time to get your property on the market and get it sold.

The number one reason why most properties don't sell is due to over-pricing.  For the most part, sales are driven by correct pricing (market value) and not by season.  A property will not sell if it isn't on the market.  A property that is well priced, will be recognized as such and sell.

If you're thinking of selling, please contact me for a free property assessment and competitive market analysis.

Posted in Market Updates