March Market Update: Naples, Bonita Springs & Estero
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by Kevin
- May 3, 2024
- Bonita Springs
- 0
Overall, in Bonita Springs the average sales price decreased 15.6% year over year with the year averaged sales price of $836,337. In terms of inventory, Bonita had a steady supply of 7.3 months or an uptick of 78 percent compared to last year. In Estero, there was an 12.4% average sales price decrease year-over year. The average sales price was $638, 929. The five year tread is still strong compared to 2020 with an increase of 79.35%. Estero’s housing supply is currently 6 months, a 100 percent increase from March 2023. Estero had 137closed sales happen which is a slight reduction from previous years.
If you take a look at both areas, you’ll find a 17.2% decrease compared to March 2023, but still a strong 82.63% as a five year consolidated growth.
The average sales price for both Bonita Springs & Estero combined is $717,881.
Naples Market Update
The March 2024 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), reported a 67.6 percent increase in inventory to 5,283 properties from 3,153 properties in March 2023. While home prices are up 6 percent in March to $649,000 from $612,000 in March 2023, there were also 2,667 price decreases during March, the highest number of decreased reported in over five years. According to broker analysts, these decreases are not placing downward pressure on prices; they are an indication that sellers are taking steps to stay competitive.
If you’d like to learn more about what community is right for you or anything about what’s happening the the Naples real estate market, contact Kevin at Office@knowledgebasefl.com or give him a call/text at 239.977-5642.
Photo Credit: Bonita Springs & Estero & Naples Board of Realtors
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