For June, 2017, the Multiple Listing Service (MLS) reported seventy-six (76) single family home sales in Estero, up 15% from June, 2016. Despite meager sales in April, for the second quarter sales increased 2% from 2016, and first half 2017 sales are up 8% from last year.
Sales figures for 2017 and for each month for the previous two years are shown below:
At the end of June, there were 392 listings of currently active, unsold homes (i.e., “inventory”). This equates to about a 7-month supply, which is near the level reported throughout the second half of last year. Pending sales also dropped in June to 85 homes, which is the lowest number this year. These figures point toward lower sales in the coming months — as usually happens in the summer months.
The percent of distressed sales in the second quarter, as well as distressed sales in inventory at the end of June, remained near the 1% to 2% level, approximating the lowest levels since 2012.
Continued thanks to Joe Pavich, Sr. of Realty World in Estero 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.