In July 2017, fifty-three (53) single family homes were sold in Estero, up 26% from July 2017. For the year, sales are up 10%. Both the July and year-to-date sales totals represent record numbers since at least 2010, when the ECCL first started tracking monthly sales.
Sales figures for 2017 and for each month for the previous two years are shown below:
At July 31, there were 388 listings of currently active, unsold homes (i.e., “inventory”). This is about a 7-month supply, which is near the level reported throughout the second half of last year. Pending sales dropped in July to 76 homes … the lowest level this year. These figures point toward lower sales in the coming months — as often happens in the summer months.
While the percent of distressed sales in July ticked up a bit, distressed sales in inventory at the end of July, remained near the 1% to 2% level, approximating the lowest levels since 2012.
Continued thanks to Joe Pavich, Sr. of Realty World in Estero 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”).