The Bonita Springs real estate market for the month of March is strengthening. The buyer’s market continues, however, it weakening especially since last year.
HOMES:
Homes available for sale, as of March 31 – totaled 822. Of this total 103 were potential short sales, and 26 were foreclosures. This translates to 14.8 months of inventory (normal market is between 5 and 7 months) versus last year 26.3 months. This statistic most clearly reflects the higher level of sales activity of homes in the Bonita Springs area.
A total of 62 homes closed in March, which was the same number of closings last year.
Pending sales for the month of March was 126 homes versus last March’s figure of 84 homes.
The median sold price for a single family home in the Bonita Springs in March was $297500 in a year over year comparison March 2009 saw the median sold price at $312000.
An indicator of future closed sales in addition to the current month’s pending sales, is the total number of pending sales. The total number of pending sales includes not only the current month (126), but also an accumulation of those homes which have not yet closed from previous months. The total pending sales as of the end of March was 221 homes. Of the 221 homes, 93 were potential short sales and 31 were foreclosed homes (bank/lender owned).
CONDOS:
Condos available for sale as of March 31 – totaled 848. Of this total 70 are potential short sale condos and 11 foreclosures. This translates to 15.6 months of inventory versus last year’s 29.5 months.
A total of 70 condos closed in March versus last March where 62 condos were sold.
Pending sales for the month of March was 135 versus last March’s figure of 110.
The median sold price for a condo in the Bonita Springs area was $203750 compared to last year’s median of $225000.
The indicator of future closed sales in addition to the current month’s pending sales is the total pending sales. In March a total of 243 condos were pending sale. Of this number, 114 were potential short sales and 19 foreclosures.
The statistics used for this post were taken from the Sunshine MLS on April 1st using data obtained for the month of March. The March data is primarily at this time, the final statistics are generally available on the fifth business after the end of the previous month.