Estero Real Estate Sales Update - January to March 2008

The January thru March Estero real estate sales statistics for both homes and condominiums are listed below. Estero is ideally located between Ft. Myers and Bonita Springs and is currently in the process of building and developing wherever you travel in the area. Developers are offering every type of community you can imagine, from large gated and planned communities, to smaller town centre type projects where the amenities are built around a self-contained lifestyle.

Estero Sales Data

Estero Home Sales Jan-Mar 2008*:

• 109 Closed Sales
• Average Sales Price - $390,994
• Median Sales Price - $330,000
• Average Days on Market - 138
• Price/Sq. Foot - $164.08

Estero Condominium Sales Jan-Mar 2008*:

• 73 Closed Sales
• Average Sales Price - $222,155
• Median Sales Price - $155,000
• Average Days on Market - 132
• Price/Sq. Foot - $142.23

In comparison with 2007 sales data, we've seen a 47% increase in the number of home sales and a 270% increase in the number of condominium sales. The average price of homes decreased by 17% and the average price of condominiums decreased by 18%. Average days on market rose by 15% for homes and fell by 8% for condominiums.

Like many areas in Southwest Florida, you'll find that Estero has an excess of inventory. The upside of all this inventory is that most of it is new construction and the builders are offering numerous upgrades and price concessions. Bella Terra and Rapallo are two of the better known communities and both offer numerous amenities and a laid back lifestyle. Savvy buyers, with an experienced agent, are finding some really incredible deals. The key is knowing where to look and how best to negotiate on the price.

So, if you would like to explore more of what the Estero Real Estate market has to offer, please contact us at Gulf Coast Associates, Realtors® and we'll be happy to assist you. Call us today at 888-617-3674.

*Sales Data Statistics from NABOR & SWFL MLS

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