Bonita Springs Estero Association of Realtors® – June Market Report

June 2010 Market Report

Bill Barnes CEO

The Bonita Springs Estero market generally remained the same in all eight areas of monthly evaluation as it did in May. It appears that the combination of no more government assistance combined with fewer residents in the summer have set the base line for the next several months.

Single family homes listed dropped from 191 in May to 152 in June. This is a 20% drop and is part of an overall reduction in inventory. Single family home sales topped out at 90 units sold which were the second highest months of sales in 2010.

Condominiums came on the market at the same numbers as in May. 201 units came in the market and 84 units sold. The condo inventory remains high with 117 more coming into the market than sales out. This trend is accounted for as Americans continue to unload, “non essential” assets such as boats, planes, condo’s and extra cars.

The special focus price ranges:

Single family homes under $200,000 are now in a four month run of averaging the same every month in the 40-50 unit range.

Condominiums under $200,000. have sold at a rate of 84 per month for two consecutive months. These condo sales are however down from over 100 unit sales per month during the season.

On the other end of the price range in the one million dollar or more range there is a considerable drop off. For the first time in 2010 no condos sold. The million dollar plus homes sold were three units in June. The number of 3 sales was the lowest in a monthly period in 2010. There has been however 37 million dollars of homes sold in Bonita Springs Estero in 2010.

June 2010’s “Top Ten” sales were led by the Brooks and Bonita Bay both with three sales each. The 3 Brook’s sales were at prices of 2.6M, 1.7M, and $730,000. Bonita Bay’s sales

show a strong comeback after slow market there during the earlier part of 2010 attributed to the publicity over the club ownership.

The Highest sale was $2,699,000, in the Brooks and the #10 was also in the Brooks at $685,000.

The average price of the “Top Ten” was $1,132,200 which is the lowest “Top Ten” average in 2010.

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