Estero’s Single Family Home Sales Continued to Increase in April; Year to Date Sales Up 50%

In April, 2015, the Multiple Listing Service (MLS) recorded sixty-nine (69) single family home sales in the Village of Estero.  This figure is about 50% more than the monthly average in the first quarter this year and for the month of April, 2014. On a year-to-date basis, sales are up over 50% from the comparable period of 2014.

In April, only one home was a “distressed sale,” i.e., short-sale listing or bank owned property, in which case the bank received less than their loan amount.   April’s inventory of unsold homes includes only twenty-four (24), or 6%, which are expected to be distressed sales.  Six percent is near the lowest percent since the ECCL began tracking this figure in 2012 when distressed sales consistently accounted for 10-15% of Estero’s sales.

Sales figures so far this year and for the last two years are shown in the following table:

As of April 30, 2015, there were 390 listings of currently active unsold homes, reduced slightly from last month.  The 390 active listings include one hundred thirty-eight (138) pending sales, once again reduced slightly from last month.

The 390 listings in inventory this April represents 9 months’ supply of unsold homes, down from a 10 months’ supply a year ago and last month, and significantly less than the 15 months’ level two years ago.

Note: 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.

Thanks to Joe Pavich, Sr. of Realty World in Estero for continuing to provide the ECCL with the MLS figures for the new Village of Estero.

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