Thirty-nine (39) single family homes were sold in Estero in December, down 40% from December, 2016. Despite weak sales in November and December, the five hundred ninety-four (594) homes sold in 2017, while only slightly ahead of 2016, marks the best year 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 December 31, there were 418 listings of currently active, unsold homes (i.e., “inventory”), representing about an 8-month supply. Both figures are virtually unchanged from November, but significantly down from levels early in the year and last December. Pending sales totaled 58 homes, the lowest level since December, 2012.
There were no distressed sales again in December, while distressed sales in inventory at the end of the month remained near 1 to 2%, 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”).
