Bob Pisa Naples Bonita Springs Estero Real Estate Commitment, Service, Satisfaction

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Estero, FL Real Estate


Estero? That's the reaction from many people who have not visited southwest Florida. But for anyone who has visited the greater Naples - Fort Myers area, Estero is well known. Estero is just north of Bonita Springs, FL.

 

Bonita Springs - Estero Real Estate Market Watch
July 2008

The single-family home and condominium market in Bonita-Estero continues its upward trend! I read a statement from a local econmist who described today's market as "bouncing along the bottom". I think that this is a great description - from month-to-month there are ups and downs but the changes are not all that significant up or down.

The average price for a single-family home in July of 2008 was approximately $627,000 which represents a slight increase in the average from last month. The 12-month trend line and the 12-month average are nearly one and the same indicating the prices erosion has ended. I look for price to stay flat (and bounce) for some time before the trend line starts back up...but it will.

The condominium market (including villa homes) in Bonita and Estero is still pretty hot! The trend line for unit sales is sloped steeply upward still while the average price dipped from June and the average is Bonita Springs Estero Single-family homes pending sales as of July 2008about what is was in May - bouncing. The unit volume for condominiums jumped up some 40% from June and it's about 13% above the 12-month average.

All-in-all, given the economic conditions, things are not all that bad in southwest Florida. Single-family home prices have stabilized, condominum pricing is still correcting ever so slightly and most importantly the overall sales trend for volume is up. Pending home sales trend is depicted to the right.

Download the reports.

 

Driving from Fort Myers to Naples one must drive through Estero which has been called a "boom town". Estero is booming! More than three million square feet of retail, dining, and theaters have been added over several years and the commercial space is still being built including four new hotels. What's even more impressive, it's all fully leased.

The major retail centers are Gulf Coast Town Center (GCTC) at the Corner of Alico Road and Ben Hill Griffin Parkway - a wonderful open-air outdoor mall. This location is about three miles from the new Southwest Florida Regional Airport, Florida Gulf Coast University, Miromar Lakes Beach and Country Club and Grandezza Golf and Country Club. GCTC is home to the Bass Pro Shop complete with marina and lake and way too much more to mention.

Heading south on Ben Hill Griffin to Corkscrew Road will take you to the Miromar Outlet Mall, another outdoor mall. The Outlets are just completing Phase VI and there is one more to go. There are over 120 shops and counting.

Further west on Corkscrew, toward U.S. 41 and near The Brooks, you will find the Coconut Point Mall, another outdoor mall, which is home to The Residences at Coconut Point. Live, work, shop, dine, and play all at Coconut Point.

In 2000, the permanent and seasonal population was about 15,000. By the end of 2006 it is estimated to be nearly 41,000. The projection for 2010 brings the number to approximately 50,000 seasonal and permanent residents with the ratio of permanent to seasonal resident growing steadily every year.

Estero is doing a superb job of managing and planning its growth. Much of this is due to the participation of many resident volunteer groups like the Estero Council of Community Leaders. This is a "grass roots" community organization that listens to its residents and provides a forum for these concerns to be heard.

Estero is home to a great many residential communities offering a wide variety of lifestyles and amenities - residences at the mall, golf and country clubs, lakes, and residences on Estero Bay with access to boating and canoing. All this is just a short way from the pristine white beaches on the Gulf of Mexico.

Please feel free to call me anytime if you would like some information or if you simply have a question.

Bob Pisa, REALTOR®, e-PRO®
Prestige Properties of South Florida, Inc.
4947 Tamiami Trail N, STE 106, Naples FL 34103
Email 239.898.6865 (mobile) Toll Free 888.678.2500 ext 32


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July 2008 Bonita Springs / Estero Real Estate Market Data



June 2008 Bonita Springs / Estero Area Real Estate Market Data



May 2008 Bonita Springs / Estero Area Real Estate Market Data



April 2008 Bonita Springs / Estero Area Real Estate Market Data



March 2008 - Bonita Springs / Estero Single Family Home Price Trend



February 2008 - Bonita Springs / Estero Single Family Home Price Trend

View the 12 month average price report with month by month averages and trend line.


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