01 Mar Bonita Bay Real Estate News | March 2023
As of February 1, 2023, there are 52 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 13 listings in Bonita Bay.
There are 12 single-family homes on the market from $989,999 to $5,200,000. The average list price is $3,038,625 and the average days on the market is 62. The combined days on the market is 80.
There are 16 listings in the carriage, mid-rise, townhouse, and attached villa market with prices ranging from $529,000 to $890,000. The average list price is $659,463 and the average days on the market is 28. The combined days on the market is 29.
In the high-rise market, there are 24 active listings in Bonita Bay ranging in price from $1,250,000 to $5,300,000. The average list price is $2,579,083 and the average days on the market is 102. The combined days on the market is 109.
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 66 sales with an average sales price of $653,933; these condos were on the market an average of 13 days; combined days on the market is 58.
- During the 12 months previous, there were 92 sales with an average sales price of condominiums was $471,164; these homes were on the market for 28 days; combined days on the market is 83.
BONITA BAY HIGH-RISES
- During the last 12 months, there were 60 sales with an average sales price of $2,790,400; these homes were on the market an average of 55; combined days on the market is 304.
- During the 12 months previous, there were 102 sales with an average sales price of $1,592,359; these homes were on the market for an average of 89 days; combined days on the market is 146.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 42 sales with an average sales price of $2,196,399; these homes were on the market an average of 34 days; combined days on the market is 98.
- During the 12 months previous, there were 82 sales with an average sales price of $1,799,060; these homes were on the market for an average of 49 days; combined days on the market is 123.
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.
March 2023 Market Update
DOWNING-FRYE: LOW-PRICED PROPERTY DIFFICULT TO FIND
“The February 2023 closings were about the same as what we saw in January,” said Mike Hughes, V. P. and Gen. Mgr. of Downing-Frye Realty, Inc. “One of the things that is holding our market back is the absence of low-end inventory. Buyers need to be aggressive with their offers if they are looking for properties below $400,000. These properties generally have a lot of interest from various groups of prospective buyers. The groups that like the low-end product include many first time home buyers, investors and some retirees on a fixed income. This market is also popular with renters and our labor workforce. The high-end market continues to get a lot of activity from our Downing-Frye agents. Our high-end activity continues to stay elevated. Inventory has been climbing but not in the low-end market. There is a good chance that summer buyers will see more choices this summer than they did last summer. The market continues to see a high percentage of cash buyers. Mortgage offers are being accepted, but you generally must put in a strong offer for a financed offer to be considered.
BONITA / ESTERO: NEW LISTINGS INCREASE
New listings (427) were up 4.1% in January 2023 compared to January 2022. Pending sale units (286) were down 19.2% and closed sale units (186) were down 25.% during that same time period. Over two-thirds of January’s sales were for cash, and sellers were receiving an average of 97.1% of the listed price. In January there was a 2.6-month’s supply of inventory and it was taking an average of 43 days to sell a property. The overall active inventory at the end of January 2023 was 676 properties.
NAPLES AREA: SELLER CONFIDENCE RETURNED
New listings in January rose 74.5% compared to December 2022, and 3.2% to 1,338 new listings from 1,297 new listings a year ago. The rise in home options during January did not stymy home values as median closed prices rose 11.1% to $600,000 from $540,000 in January 2022. Closed sales in January decreased 33.8% to 555 homes from 839 homes in January 2022. The spike in new listings is a promising turn of events as they pushed inventory in January up 122.7% to 2,699 properties from 1,212 properties in January 2022. After seven months of equable activity, pending sales rebounded as the new year began. Though compared to last January’s phenomenal sales activity, pending sales this January decreased 20.5% to 1,092 pending sales from 1,373 pending sales in January 2022.
MARCO ISLAND AREA: MOSTLY CASH BUYERS
The Marco Island Area Assoc. of Realtors® reported January 2023 figures: 16 homes were sold for the median sell price of $1.6M (down 3% from January 2022) averaging 61 days on the market; 20 condos were sold for the median sell price of $794K (up 18% from January 2022) averaging 44 days on the market; 8 lots were sold with the median sell price of $1.3M (up 298% from January 2022) averaging 152 days on the market. The total inventory at the end of January 2023 was 414 properties (up 106% from January 2022).
FLORIDA: INVENTORY RISING
Continuing trends from the final few months of last year, Florida’s housing market started 2023 with higher median prices and more active listings in January compared to a year ago. However, inflation and still rising interest rates above 6% continued to erode buyer demand: Closed sales of single-family homes statewide in January 2023 totaled 14,766, down 32.5% year-over-year, while existing condo-townhouse sales totaled 6,078, down 40.7% from January 2022. In January, the statewide median sales price for single-family existing homes was $389,990, up 4% from the previous year; for condo-townhouse units, it was $310,000, up 8.8% over January 2022. Statewide inventory in January was higher than a year ago for both existing single-family homes, increasing by 134.2%, and for condo-townhouse units, up 90%.
USA: PENDING SALES INCREASE AGAIN
Pending home sales increased for the second consecutive month, up 8.1% in January 2023 from December 2022. Month-over-month, contract signings raised in all four major U.S. regions. Pending home sales dropped in all regions compared to one year ago. “Buyers responded to better affordability from falling mortgage rates in December and January,” said NAR Chief Economist Lawrence Yun.
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®
Floridians Feel More Optimistic in February
Seller Confidence Returns to Greet Seasonal Demand
Evidence of growing confidence in the Naples real estate market revealed itself in January as a wave of new sellers entered the market during the month. New listings in January rose 74.5 percent compared to December 2022, and 3.2 percent to 1,338 new listings from 1,297 new listings a year ago according to the January 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). But the rise in home options during January did not stymy home values as median closed prices rose 11.1 percent to $600,000 from $540,000 in January 2022.
|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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To learn more about me and my real estate business and Bonita Bay real estate specifically, I encourage you read the About Ed section as well as the Testimonial section of the site. Over the years, my clients have expressed their satisfaction in my services and I’ve showcased their kind words so you can determine if I am the right REALTOR® to represent you.
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