Jeanette Igoe, Broker

03/06/2025

Good news here!
Post-election bump in regional real estate market
The Southwest Florida real estate market is witnessing renewed vitality as buyers and sellers alike respond to shifting conditions with cautious optimism. Local experts are reporting significant trends, including an uptick in buyer activity and, in some cases, a return to competitive offers not seen in recent years.
“The last six months have been a challenge especially but there clearly has been a welcomed increase in activity of late,” said Steve Kolenda, managing broker at Berkshire Hathaway HomeServices. “Buyers and sellers are taking advantage of the times and the economic optimism surrounding recent changes in interest rates and other factors influencing our real estate market.”
The region is also experiencing a notable uptick in competition among buyers.
“We’re seeing multiple competing offers in the marketplace, something we haven’t seen in a while,” added Kolenda.
With hurricane season, the 2024 election and other uncertainties behind us, the local market is experiencing what many call a return to business as usual.
“All of the noise has stopped, and we’re seeing a shift back to stability,” said Mark Ledbetter. “Buyers and sellers are approaching the market with a renewed sense of clarity and confidence, ready to make decisions without hesitation.”
As the market evolves, realtors remain an indispensable resource for navigating the changes. Mike Hughes, vice president of Downing-Frye Realty, emphasized the role of real estate professionals in guiding clients.
“Realtors are in the know when it comes to market conditions and shifts,” Hughes said. “Our job is to keep our clients informed and help them navigate the real estate landscape, whether it’s a buyer’s or a seller’s market. We’re constantly adapting to changes in interest rates, inventory, and local trends so we can guide clients toward the best decisions for their unique needs.”
Bonita Estero Realtors underscores the importance of partnering with an experienced realtor who understands the nuances of local neighborhoods and specific communities in this competitive market. Having a knowledgeable guide can be crucial for buyers and sellers navigating market complexities, ensuring they make informed decisions that align with their goals. Founded in 1966, the Bonita Springs-Estero Realtors is a local trade organization of over 1,200 Realtors and more than 120 affiliated industry members. Bonita Springs-Estero Realtors is part of the National Association of Realtors and Florida Realtors. It provides its members with a wide range of services designed to educate and empower members and consumers alike through the opportunity to sell or purchase real property. It also provides the public with up-tothe minute real estate reports, trends and information about the Bonita Springs and Estero real estate markets. For more information, visit bonitaesterorealtors.com (http://bonitaesterorealtors.com/)

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04/02/2024

07/20/2023

Existing-home sales slowed again last month, but aspiring home buyers continue to face competition for limited inventory. Read more from NAR’s latest housing report.
downward arrow with house
© lerbank - iStock/Getty Images Plus
Existing-home sales continued to retreat in June as the housing market faces a crushing inventory shortage. But high buyer demand is still evident as home shoppers bid up prices.

The median sale price for an existing home in June was $410,200, the second-highest recorded in the last 24 years, according to the National Association of REALTORS®’ latest housing report. The all-time high of $413,800 was set a year ago, according to NAR data. “Home sales fell, but home prices have held firm in most parts of the country,” NAR Chief Economist Lawrence Yun says of the June figure. “Limited supply is still leading to multiple-offer situations, with one-third of homes getting sold above the list price.”

Homes are selling at a brisk pace: Seventy-six percent of homes sold in June were on the market for less than a month, according to NAR’s data. The typical time on market was just 18 days.

Despite Challenges, Buyers Are Optimistic

Even up against high home prices and mortgage rates, not to mention limited housing choices, Americans overall still appear eager to buy a home. Fifty-four percent of consumers say now is a good time to purchase, according to TD Bank’s latest Mortgage Service Index. But home buyers are stressed, citing inventory and mortgage rates among their biggest stressors, the survey finds.

Home buyers have reason to be concerned about the lack of homes on the market: Total housing inventory at the end of June remained historically low at 1.08 million units. Inventory is down 13.6% from a year ago, NAR’s data shows. “There are simply not enough homes for sale,” Yun says. “The market can easily absorb a doubling of inventory.”

But new-home construction was down last month and isn’t making up the difference, shows new data from the Census Bureau. Single-family home production decreased 7% year over year in June, following four consecutive monthly gains. The National Association of Home Builders blamed elevated construction costs and rising mortgage rates for a reduction in homebuilding activity and worsening affordability conditions for buyers.

Existing-home sales—which reflect completed transactions for single-family homes, townhomes, condos and co-ops—fell 3.3% in June compared to May, reaching a seasonally adjusted annual rate of 4.16 million. Sales are down about 19% compared to last year’s brisk pace, NAR reports. “The first half of the year was a downer for sure,” Yun says. “Fewer Americans were on the move despite the usual life-changing circumstances. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.”

The housing market is still seeing a mix of buyers. First-time home buyers comprised 27% of sales in June, although that’s down from 30% a year ago. Individual investors or second-home buyers purchased 18% of homes, up from 16% last year. They tend to make up the biggest bulk of all-cash sales, which accounted for 26% of transactions last month, up slightly from their 25% market share in both May and June of last year.

Regional Breakdown

Sales varied across the country last month, with the Northeast posting gains, the Midwest holding steady, and the South and West reporting decreasing sales, NAR’s report shows. All four regions recorded year-over-year sales declines.

Northeast: Existing-home sales rose 2% month over month to an annual rate of 510,000 but are down 21.5% from a year ago. Median price: $475,300, up 4.9% from the prior year.
Midwest: Sales were unchanged from a month ago at an annual rate of 990,000, falling 19.5% from one year ago. Median price: $311,800, up 2.1% from June 2022.
South: Sales decreased 5.4% from May to an annual rate of 1.91 million, a decrease of 16.2% compared to the previous year. Median price: $366,600, down 1.2% from a year ago.
West: Sales fell 5.1% from the previous month to an annual rate of 750,000, down 22.7% from a year ago. Median price: $606,500, down 3.4% from June 2022.
Melissa Tracey

03/27/2023

Port Charlotte 4.3 Acres

02/07/2023

5 Too Trends in Remodeling!

The home renovation boom is still going strong. Handyman professionals share the top remodeling trends right now. http://ow.ly/FFuJ50Mx8TS

12/18/2022

-I agree! Yes on wrap around porches!

Yes for me.
Lov porches....bj