The Estero condo market continues to be sluggish.  During the month of October 2006, 6 condominium units were closed.  The previous month (September), 9 units were sold.  For the previous year, October saw 13 units sold, therefore the sluggish market.

The median price paid for an Estero condo in October of this year was $268,950 and the average was $294,650.  During September the median price was $294,000 and the average was 317044.  The decrease in prices paid in October was largely due to the number of higher priced condominiums sold.  In October 2005, the median price paid was $298,000, with the average price of $330,169. The interesting fact here is that larger units (1,423 vs. 1,374) square footage wise were sold in 2006 at a lesser per square foot price than in 2005; price per sq. ft. in 2006 was $207 versus the 2005 figure of $240.

The sluggishness of the Estero condo real estate market can also be seen in the average days on market:
October 2006 – 87 days, September 2006 – 96 days, October 2005 – 26 days.

As of December 9, 2006 there are a total 533 resale condominiums currently on the market for sale.

The sold condominiums in the Estero FL real estate market has not faired any better than the condo market in the Naples or Bonita Springs markets during September 2006.

During September 2005 there were 33 condominiums sold with prices ranging from $229,900 to $535,000. The average price paid for a condominium was $322,325.

This past September, 6 condos sold with the average price being paid – $380,650. The price range was $222,000 to $470,000.

Although the volume of sales is down, the price range is relatively the same, however, the average price paid is up.