Based on MLS records, one hundred-fifteen (115) single family homes were sold in May and June 2018. Although this is twenty-six (26) fewer than the comparable months of 2017, sales for the entire second quarter ended June 30 edged up three percent (3%) from last year’s second quarter. For the first half of 2018, sales declined four percent (4%) from 2017. However, this comparison is against Estero’s best sales year since 2010, when the ECCL began tracking sales.

Sales figures so far this year and for each month for the previous two years are shown below:

At June 30, there were 456 listings of currently active, unsold homes (i.e., “inventory”) – about a nine-month supply. Although pending sales declined from earlier this year, the amount is 16% ahead of last June. As typically happens in June, the pending sales decline signals the start of slower the slower summer sales season.

The distressed sales in inventory, as well as closed sales, remained at 2%, near their 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”)