01 Feb Bonita Bay Real Estate News | February 2023
As of February 1, 2023, there are 43 active listings in our area multiple listing service (MLS) in Bonita Bay; 9 more than last month.
For comparison, last year on February 1, there were 20 listings in Bonita Bay.
There are 11 single-family homes on the market from $825,000 to $3,795,000. The average list price is $2,191,035 and the average days on the market is 70. The combined days on the market is 103.
There are 8 listings in the carriage, mid-rise, townhouse, and attached villa market with prices ranging from $469,900 to $849,888. The average list price is $621,599 and the average days on the market is 37. The combined days on the market is 37.
In the high-rise market, there are 24 active listings in Bonita Bay ranging in price from $1,399,000 to $5,750,000. The average list price is $2,680,658 and the average days on the market is 83. The combined days on the market is 91.
A reminder, you have access to the most comprehensive website devoted to Bonita Bay, BonitaBayRealty.com. I’ve included maps, floor plans, photos, and descriptions of each neighborhood within this desirable community.
Please contact me for all your real estate needs in Bonita Bay. With over 35 years of helping buyers and sellers in SWFL, my experience will be invaluable in this fast-moving, low-inventory market.
Your Bonita Bay REALTOR®,
SUMMARY OF BONITA BAY HOME SALES
If you are considering selling your Bonita Bay home, here are some statistics that may help you decide to place your home on the market:
BONITA BAY CARRIAGE, MID-RISE, TOWNHOUSE AND ATTACHED VILLA HOMES
- Within the last 12 months, there were 70 sales with an average sales price of $649,682; these condos were on the market an average of 13 days; combined days on the market is 57.
- During the 12 months previous, there were 93 sales with an average sales price of condominiums was $458,320; these homes were on the market for 29 days; combined days on the market is 84.
BONITA BAY HIGH-RISES
- During the last 12 months, there were 63 sales with an average sales price of $2,426,841; these homes were on the market an average of 56; combined days on the market is 221.
- During the 12 months previous, there were 101 sales with an average sales price of $1,572,006; these homes were on the market for an average of 95 days; combined days on the market is 153.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 39 sales with an average sales price of $2,260,660; these homes were on the market an average of 34 days; combined days on the market is 101.
- During the 12 months previous, there were 88 sales with an average sales price of $1,764,817; these homes were on the market for an average of 53 days; combined days on the market is 131.
For a list of BONITA BAY homes sold in the last 12 months, click here.
For a list of BONITA BAY homes that are pending at the moment, click here.
Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.
February 2023 Market Update
DOWNING-FRYE: OVER $2 BILLION IN CLOSED SALES VOLUME IN 2023
“For the second year in a row, Downing-Frye Realty, Inc. reported a yearly closed sales volume exceeding two billion dollars,” said Mike Hughes, V. P. and Gen. Mgr. of Downing-Frye Realty, Inc. “The closed sales volume for 2022 of $2,077,188,068 was down from the 2021 closed sales volume of $2,400,839,269. The shortage of listings in the area coupled with the rising interest rates held down the closed transactional sides in 2022. In 2021, Downing-Frye had 3,750 closed transactional side for the year. In 2022, Downing-Frye agents had 2,436 closed transactional sides. The average closed sales price in 2022 was up significantly. The Downing-Frye average closed sales price for 2022 was $852,704. In 2021, the average Downing-Frye closed sales price was $640,224. This represented a 34% increase in the Downing-Frye average closed sales price for 2022! Downing-Frye agents are excited about 2023. We continue to raise the bar and set lofty goals. We want to make 2023 our best year ever. Bring it on!”
BONITA / ESTERO: MOSTLY CASH BUYERS
For 2023, the Bonita Springs and Estero local realtors seem to agree that the current market will hold steady for the upcoming year with a gradual increase in inventory and a relatively strong sellers market. In November 2022, the medium sales price was $515,000, a 15.3% increase compared to November 2021, and the time on market averaged 31 days instead of 17 days. Currently benefitting the buyer is the increase in inventory, which sat at 528 active listings in November – a 89.9% increase from November 2021. Although this increase may seem drastic, it’s still only a third or so of what was listed pre-pandemic and still remains at historically low levels. Notably, there were 10% more cash buyers in November 2022 than the previous year, with cash sales amounting to 71.1% of all November sales.
NAPLES AREA: INVENTORY ON THE RISE
Housing inventory in Naples is on the rise but remains low at just 2.8 months of inventory reported in November (a balanced market has a six-month supply). Cash sales in November accounted for 62.3% of sales, indicating that Naples remains a solid investment. Overall inventory in November rose 96.8% to 2,478 properties from 1,259 properties in November 2021. Comparatively, in November 2019 there were 5,563 properties listed with half being single-family homes. Today, the inventory is 63% single-family homes. November’s overall median closed price increased 20.4% to $600,000 from $498,500 in November 2021. November’s report also showed sellers are more willing to negotiate again as the overall percent of list price received decreased 3.3% compared to last November.
MARCO ISLAND AREA: MOSTLY CASH BUYERS
The Marco Island Area Assoc. of Realtors® reported that in November 2022, 14 homes were sold for the median selling price of $1.9M (up 48% from November 2021) averaging 72 days on the market. The total inventory for November 2022 was 243 properties (up 5% from November 2021) with 41 total closed units for a total volume sold of $55M. Cash buyers accounted for 76% of sales.
FLORIDA: HIGHER MEDIAN PRICES
Closed sales in November 2022 of single-family homes totaled 17,009, down 38.2% year-over-year, while existing condo-townhouse sales totaled 7,084, down 38.9%. In the wake of higher interest rates, the rate of price growth for Florida’s home sales continued to slow but remained above the long-term trend. In November, the statewide median sales price for single-family existing homes was $400,000, up 9.6% from the previous year; for condo-townhouse units, it was $307,000, up 12.3%. Statewide inventory was also higher for both existing single-family homes, up 105.2%, and for condo-townhouse units, up 47.4%. The supply of single-family existing homes increased to a 2.8-months’ supply while existing condo-townhouse properties were at a 2.7-months’ supply.
USA: SALES DIP AGAIN IN NOVEMBER
Pending home sales decreased for the sixth consecutive month, down 4.0% from October. NAR Chief Economist Lawrence Yun said, “There are approximately two months of lag time between mortgage rates and home sales. With mortgage rates falling throughout December, home-buying activity should inevitably rebound in the coming months and help economic growth.”
Sources: The Bonita Springs-Estero REALTORS®/SWFLMLS, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS® and Marco Island Area Assoc. of REALTORS®
Are Floridians More Optimistic than Rest of U.S.?
Naples Housing Market
In the first year after a two-year interruption in normal activity caused by the COVID-19 pandemic, the Naples real estate market is stable in terms of value, but there are not as many homes to choose from, and prices have elevated. As pandemic restrictions loosened in 2022, sellers and buyers pivoted their attention from the housing market to the travel market. As a result, and according to the December 2022 and 2022 Annual Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall closed sales in 2022 decreased 34.8 percent to 10,156 properties from 15,570 properties in 2021. And while inventory is beginning to rebound, increasing 106.3 percent to 2,465 properties in December 2022 from 1,195 properties in December 2021, broker analysts reviewing the report are uncertain where and when an influx of inventory will arrive to meet our pre-pandemic levels.
|If you are looking to buy or sell a home in Naples, contact a Naples REALTOR® who has the experience and knowledge to provide an accurate market comparison or negotiate a sale. A REALTOR® can ensure your next purchase or sale in the Naples area is a success. Search for your dream home and find a Naples REALTOR® on Naplesarea.com. The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 6,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers. The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.|
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