According to the Bonita Springs-Estero REALTORS® (BER), buyer interest in February 2021 was robust, leading to multiple offer situations and a very active start to the spring selling season in Bonita Springs and Estero. Along with robust sales, inventory shortages are also a continuation into springtime as well. Most notable was the 76.7 percent drop in available inventory as compared to the same time in 2020. While there are inventory challenges, this should not deter buyers and sellers from entering the market.
Now is a “great time” for absentee or out-of-state owners to ask their local agent what their home is worth now, as they may be pleasantly surprised and decide that now is the time to sell.
More notable trends for February 2021 are the increase in sales in the $2 million + price segment. Currently, this price segment had the strongest sales at an increase of 122.2 percent versus February 2020. Area brokers suggest that luxury home sales in higher price segments are increasing as demand for larger homes increase as well. Single-family homes with 4 or more bedrooms also saw a notable increase in sales of 38.9 percent versus the same time in 2020.
While single family homes still dominate sales in the market, condominiums are also seeing a notable uptick in pending and closed sales versus February 2020. Overall, in the market, the number of days on market is continuing to trend downwards as the median and average sales prices tick upwards. However, sellers should be reminded that pricing your home to market value is the key to getting multiple offers – overpriced homes continue to remain on the market, losing momentum and buyer interest. In February 2021, there were 47 price repositions for single-family homes and condominiums combined.
Sales Associate | Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
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