Thirty-two (32) single family homes were sold in Estero in November, down 18% from November, 2016. Year-to-date sales are up 6%. The five hundred fifty-five (555) homes sold so far this year represents the best annual start since 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 November 30, there were 419 listings of currently active, unsold homes (i.e., “inventory”). This is about a 8-month supply, a slight up-tick for the month but down from levels early in the year, and similar to the levels in the second half of last year. Pending sales totaled 63 homes, about the same level as recent months and near the lowest level of recent years, reportedly due to hurricane damage repairs.
There were no distressed sales again in November, while distressed sales in inventory at the end of the month remained near 1%, the lowest levels 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”).