During the month of October 2006, Bonita Springs Florida real estate condo market saw 45 condos sold compared with 55 condos sold in October 2005. The volume of sales reflects only about an 18% reduction.
The median price for a Bonita Springs condo sold in the current year was $415,000 compared with last year’s $335,000. The average price paid in October 2006 was $781,016 versus last year’s $372,661. The increases occurred because of the number of million dollar condos sold in 2006. Last there were no sales in excess of the million dollar mark, whereas, this year there were 12 condos sold. The vast majority of the million dollar sales took place in Bonita Bay.
The average days on market in 2006 were 131 days; 90 days more than last year’s 41 days. There were on 3 condominiums significantly longer on the market for over 100 days.
Compared with September 2006 the number of condominiums sold were 27, with a median price of $320,000 and average price of $328,607. No condominiums sold for over million dollars in September. When looking at the closed sales in October 2006, without the million dollar units the median price is $325,900 and the average price $375,931.
The Bonita Springs condo real estate market appears as though there could be some stabilization taking place.