Estero Home Market Update for August

August Activity for Homes in Estero:

Listings:

During the month of August 73 Estero homes were listed for sale. For the same month in 2007, 59 homes were listed for sale; this represents an increase of 23.7 percent. The increase from 2006 was 17.7 percent from the 62 new listings. In July 2008 there were a total of 66 homes listed for sale and in June 66 homes.

estero homes absorption rate for august 2008

The number of homes available for sale in Estero has dropped from 575 homes in February 2008 to 456 at the end of August. This represents a reduction of about 20.7 percent. In terms of the number of months of homes to sell it is presently at 20 months versus 32 months in February. [Read more...]

Hurricane Ike Update

hurricane ike cone at 0800 on 080907Hurricane Ike’s cone is still showing it is tracking to south and west. For the Naples, Bonita Springs and Estero areas of Florida it means the center of the storm may pass within about 200 miles of the coastline which disminishes the chances of the area feeling the full brunt of Ike.

The track towards the south does not help our friends in the Gulf Coast areas as the storm appears it will not pass over the mountainous areas of Cuba. It the storm passes over the mountainous areas of Cuba the storm will weaken. Currently the storm is a CAT-4 with winds of 145 mph.

The Florida Keys have started evacuations and hurricane preparations.

Hurricane Ike

Hurricane Ike’s projected path as of this morning shows the cone just south the Naples area. This is better positioning than yesterday mornings projected path and cone. The Naples area may not be affected by Hurricane Ike. With this cone it does appear that Bonita Springs or Estero areas will have any affects from the hurricane. However it is advisable to prepare for the worst and hope for the best.

Hurricane Ike updated cone as of Sunday 0500

Updates will be posted throughout the day on this blog.

Estero Condominium Market Update

June Activity:

Listings:

During the month of June 60 Estero condos were listed for sale. For the same month in 2007, 53 condos were listed for sale; this represents an increase of 5.7 percent. The decrease from 2006 was 17.8 percent from the 73 new listings. In May 2008 a total 40 condos were listed for sale. The increase in the number of new listings has a negative impact on the number of months of supply for available condos in the Estero area, along with the lower volume of closed sales and stable pending sales volume. A graphic presentation showing the number of months supply for condominiums in Estero will be posted shortly.

Closed Sales:

A total of 8 condos were sold during June 2008. Comparing the same month in 2007 there were a total of 10 condos sold, the reduction of 2 condos represents a decrease of [Read more...]

Estero Home Market Update

June Activity:

Listings:

During the month of June 69 Estero homes were listed for sale. For the same month in 2007, 86 homes were listed for sale; this represents a decrease of 19.8 percent. The decrease from 2006 was 22.5 percent from the 89 new listings. In May 2008 there were a total of 48 homes listed for sale.

Closed Sales:

A total of 25 homes were sold during June 2008. Comparing the same month in 2007 there were a total of 26 homes sold, represents [Read more...]

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