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Bob Pisa - Naples FL Luxury Real Estate
Bob Pisa
REALTOR®, e-PRO®

239-898-6865
Toll-Free:
888-678-2500 X32
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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.

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Bonita Springs - Estero Real Estate Market Watch
June 2010
(Based on data from the local board of Realtors® multiple listing service.)
 
Bonita Springs - Estero Pending Home SalesSummer Seasonal Cycle Repeats Like Clockwork… Pending sales numbers continue to retreat from the peak month of March or April as they do each year. The overall closed sales numbers retracted again in June too just shy of ten percent. June 2010 is exactly on par with June of 2009. For closed sales, the overall volume retracted just over ten percent in June over May and it’s seven percent above 2009’s closed sales.
 
Bonita Springs - Estero Closed SalesSingle-family Homes and Condominiums Fair Equally… The volume of closed sales for single-family homes and condominiums both fell back. Single-family homes fell just less than four percent and condominiums fell just over four percent. However, compared to the same period last year single-family homes are up sixteen percent and condominiums are up more than four percent.
 
Bonita Springs - Estero Average Home Sale PricesWhat about prices... The average overall price paid for a home was down six and one-half percent with single-family homes down less than four and one-half percent and condominiums down nearly seven percent. However, overall median price paid for a home was up more than two percent, single-family homes up nearly sixteen percent (from $222,000 to $257,000) and condominiums down just over ten percent. Single-family home purchases tend to be driving the market. The inventory of low-priced homes is diminishing moving buyers to a higher price point.
Closed Over $1 Million… Three properties in the month of June.
It’s tempting to look at the month-to-month change… but in this highly seasonal market you must look at the overall change year-over-year. This is exactly why the graphs I produce show four years worth of data. It’s plain to see how 2010 like 2009 and 2008 are at a higher level than each prior year. I believe that the trend lines for pricing are now showing clearly an increase in the average prices supported by similar data in the median prices.

Download the charts

A note about the data… if you track the charts closely month-to-month you will see that the numbers for the most recent months may change slightly each edition. The reason is that the data in the MLS is changing due to additional sales posted and/or corrections made to the data for the closing date and price paid. The changes are minor.

 

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.
Email 239.898.6865 (mobile) Toll Free 888.678.2500 ext 32


More Information - Online Reports


IMPORTANT NOTICE: These reports are provided exclusively for the use of individual(s) interested in purchasing or selling real estate. Commercial use and/or any reproduction is prohitbited without prior written permission. By downloading any report you agree to these conditions. (4/8/2010)

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June 2010 Bonita Springs-Estero Market Data



May 2010 Bonita Springs-Estero Market Data



April 2010 Bonita Springs-Estero Market Data



March 2010 Bonita Springs-Estero Market Data



February 2010 Bonita Springs-Estero Market Data



January 2010 Bonita Springs-Estero Market Data



December 2009 Bonita Springs - Estero Area Real Estate Market Data



November 2009 Bonita Springs - Estero Area Real Estate Market Data



October 2009 Bonita Springs-Estero Market Data



September 2009 Bonita Springs-Estero Market Data



August 2009 Bonita Springs-Estero Market Data



July 2009 Bonita Springs / Estero Real Estate Market Data




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Prestige Properties of South Florida Inc

Bob Pisa
REALTOR®, e-PRO®
239-898-6865

1400 Gulf Shore Blvd. North, Suite 106
Naples, Florida 34102

 


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