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Estero’s 2018 Single Family Home Sales Increase 7% Hitting a New Record High

Feb 18, 2019 | Community Planning, Development / Community Planning, Growth

homesMLS records indicate that six hundred thirty-eight (638) single family homes were sold in Estero in 2018.  Even though first half 2018 sales declined slightly from 2017, second half sales surged ahead 23%, marking a 7% annual increase in 2018 and making it the best year since 2010 (when the ECCL began tracking MLS sales).

Sales figures for 2018 and for each month of the previous two years are shown below:

homesales02-2019

At December 31, there were 421 listings of currently active, unsold homes (i.e. “inventory”) – about an eight-month supply — about the same levels as the last two years.  However, pending sales at the end of 2018 hit a record low, suggesting that 2019 could see a slower start.

The distressed sales continued near 1%, the lowest level since 2012.

Continued thanks to Estero’s Joe Pavich, Sr. of Realty World J Pavich Real Estate, for supplying us monthly sales and inventory figures.

NOTES:

  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 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.

Source: Multiple Listing Service (“MLS”)