Listings:
The new listings for the month of March 2009 were 160 condos in the Bonita Springs area. The number of condos listed in March 2008 was 137. The increase of new listings of condos was 17 percent. In March 2007, the new listings were 215, representing a drop of 55 condos or decline of 26 percent.
In February 2009 the new listings were 146.
Of the 160 condos listed approximately 16 percent were potential short sales, 13 percent were foreclosed (bank owned), and the remaining 71 percent were traditional listings.
Median list price for potential short sales was $125000, foreclosed properties were $79000, and traditional listings were $289500.
Closed Sales:
In the month of March 2009 the sale of condos were 38. In March 2008 a total of 57 condos were sold. The year over year was 33 percent decrease. In March 2007 a total of 47 condos were sold. The decrease over 2007 was 9 condos or about a 19 percent.
Of the 38 condos sold, approximately 3 percent were approved short sales, 8 percent were foreclosures, and the traditional sales were 89percent.
The breakdowns of the median sold prices are discussed in the median sold price section below.
Pending Sales:
During March 2009 a total of 107 condos had an offer accepted by the seller. In March 2008, 76 condos were pended. The increase from March 2009 represents an increase of 31 condos or about 29 percent.
In March 2007 a total of 43 condos were pending sale. The increase between March 2009 and March 2007 was 64 condos or about 149 percent.
Median Sold Price:
During the month of March 2009, the median sold price of a condo in Bonita Springs was $220000. The median price is the sold price represents the middle value of the all sold prices within a stated range. The median sold price can vary from area to area within a local real estate market.
In March 2008, the median sold price was $319900. In the year over year comparison median sold price declined $99900 or roughly 31 percent.
In March 2007 the median sold price was $325000. In comparing March 2007 to March 2008 the price declined $105000 or about 32 percent.
Median sold price for approved short sales was $184000, foreclosed properties were $84900, and traditional listings were $226250.
The difference between the list price and sold price for approved sales was about 92 percent, foreclosed properties 107 percent, and traditional listings 89 percent. The foreclosed properties were in excess of100 percent due to multiple offers and/or seller credit and paid closing costs.
