According to the Bonita Springs-Estero Association of Realtors (BEAR), there was a decline in closed sales for single-family homes during the month of March 2014. It was actually 37.8 percent lower compared to last year. It was also stated that the probable cause for the decline is the decrease in active listings. It is not only single-family homes that are affected, even closed sales for condominiums and townhouses are also declining.
2014 BEAR President Anita Colletti even stated that the end of the winter season should not be a deterrent for homeowners to sell their homes. The 50 days in the market is the norm and homebuyers are expected to stay during the spring and summer season.
Aside from all this decrease in closed sales, there is still a positive increase in the average sale price for single-family homes, townhouses, and condominiums. This year is actually quite higher compared to the average selling price of such real estate properties last year of the same month.
Single-family homes, for the month of March, are selling at an average sales price of $469,834. There is an 8.2 percent increase compared to March 2013. On the other hand, condominiums also see a positive increase of 5.7 percent increase over March 2013. This March 2014, the average selling price of a condominium was $276,578.
Homeowners should not give up hope in selling their homes. With the positive increase in the average sales price and positive real estate market, there is more reason to sell their property.