For May, 2017, the Multiple Listing Service (MLS) reported sixty-five (65) single family home sales in Estero, up 38% from May, 2016. After bouncing back from lower sales in April, May year-to-date sales increased 5% from 2016.
Sales figures for 2017 and for each month for the previous two years are shown below:
At the end of May, there were 446 listings of currently active unsold homes (i.e., “inventory”). This equates to about a 9-month supply, near the highs in quarter 1 of 2016 and 2017. Often, this figure peaks in the first half of the year.
Pending sales at May 31 totaled 114 homes – continuing to run ahead of last year’s figures. This suggests solid sales in the coming month.
The percent of distressed sales in May, as well as distressed sales in inventory at the end of May, remained near 1% to 2%, 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.