In January, 2017, the Multiple Listing Service (MLS) recorded forty-six (46) single family home sales in the Village of Estero. This is identical to the number sold in January, 2016.
Sales figures for January and each month for the last two years are shown below:
At the end of January, there were 490 listings of currently active unsold homes (i.e. “inventory”). This equates to about a 10 month supply. The inventory number ticked up 10% from December, but is consistent with last year’s January figure. The months of supply figure also increased, as typically happens in January.
Pending sales at January 31 totaled 100 homes – also consistent with last January. That is up, however, about 40% since last December, suggesting solid sales in the near future.
The percentage of distressed sales in January increased from the latter part of 2016, but was comparable to January, 2016 levels. Distressed sales in inventory remained near 2%, which approximates the lowest levels since 2012.
Continued thanks to Joe Pavich, Sr. of Realty World in Estero for supplying us monthly sales and inventory figures.
1) “Distressed sales” include short-sales and sales of bank owned property in which the bank receives less than their loan amount.
2) Figures include homes in the new Village of Estero (excluding homes in the Estero portion of Pelican Landing, which are not separately shown in the MLS). Also not included are figures for multi-family homes.