BONITA BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW

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Median Price and Sales
The median price of the Single Family homes sold in Bonita Bay more doubled from $1.1 million in 2020 to $2.5 million in 2022 and has been stable since.
Sales increased from 2019 to 2021, dropped back, and them increased in 2024.
The median price of the Villas sold in Bonita Bay has continued to increase year by year, and sales also increased last year,
The median price of the Condos sold in Bonita Bay has also continued to increase. On the surface, the median price jumped to $1.275 million in 2023, but the 41 sales at Omega boosted the median price. Without those sales, the 2023 median price would have been $820,000, meaning there was an underlying increase again in 2024. Excluding the Omega sales in 2023, the 2024 figure was steady.

While Inventory has doubled from the extremely low levels on 2022/23, it has returned to more normal levels at the beginning of the season.

Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at prices.
The PSF has increased significantly in recent years, in line with median prices.
The pace of Sales quickened dramatically until 2022. 2024 presented mixed picture.

INVENTORY
While Inventory has doubled from the extremely low levels on 2022/23, it has returned to more normal levels at the beginning of the season.

COMMENT
There are multiple communities in Bonita Bay – Single Family, Villa and Condo – and prices will vary from community to community.
Condition is always important in determining price, but that is even more true in Southwest Florida based upon the demographics of many of the buyers. And, with the market returning to more normal conditions, pricing is again crucially important.