Bonita Springs – Estero, FL August 25, 2021 — According to the Bonita Springs-Estero REALTORS® (BER), the month of July continues to show decreases in inventory, but demand is steady. Additionally, homes priced above $2 million are still seeing strong demand. Area brokers strongly advise sellers to list now, as not to miss this window of opportunity. Additionally, supply chain issues continue to affect new home construction, so buyer focus is still largely on resale homes.
Area brokers are also seeing area real estate agents continuing to “hold” listings, which means the property is not listed on the Multiple Listing Service (MLS). These are sometimes referred to as “Pocket” or “private” listings and are simply just not in the best interest of the seller according to area brokers.
Area brokers are also seeing many sellers who are taking advantage of the current tax law for 1031 Exchanges. A 1031 Exchange, part of Section 1031 of the U.S. Internal Revenue Tax Code, allows a seller to avoid paying capital gains taxes on an investment property sale if they reinvest the proceeds from the sale within certain time limits in a property or properties of like kind and/or equal or greater value. Market experts agree that for sellers who are hoping to sell an investment property, now is definitely the time so that proceeds can be invested by the end of the 2021 calendar year, avoiding that capital gains tax, and because no one is sure what tax code changes may take place in the near future. Another critical piece of advice for buyers looking to purchase a rental or income producing property; before purchasing, be sure to check with your local county, city, and/or community rental policies to avoid any unwanted surprises post-purchase, as many of these policies differ between counties, cities, and communities.
In July 2021, Realtor.com showed 23 million + property search results page views for the Bonita Springs and Estero combined markets. This number has fluctuated slightly over the last quarter, but overall, interest from the Northeast and Midwest regions of the U.S. still continue to dominate the majority of users looking at Bonita Springs and Estero. Many users are also turning to online valuation websites to search for properties or to obtain estimates on home pricing. While area brokers do not discourage the use of these directories, the do want buyers to realize that sometimes information is not 100 percent accurate, so it’s always best to run any numbers by an experienced REALTOR® so they can double check to ensure accuracy.
Lastly, area brokers do want to remind buyers and sellers that virtual showings and buying options are still available no matter where you currently reside, so be sure to discuss these options with your agent.
The Bonita Springs-Estero REALTORS® July 2021 Report shows these overall findings for both single family homes and condominiums combined.
To ensure your next real estate transaction in the Bonita Springs or Estero market is a success, contact a Bonita Springs – Estero REALTOR®.
*Inventory calculations are based on property listings that exist within the Southwest Florida MLS. Only properties in zip codes 33928, 34134 and 34135 are included. Single family homes are tabulated with the building design of single family, villa detached, or manufactured with land conveyed. Condo units are tabulated using properties with a building design of low-rise, mid-rise, high-rise or villa attached.
The Bonita Springs-Estero REALTORS’® Multiple Listing Service (MLS) syndicates to LISTHUB, which distributes to 2,000+ real estate search websites.
Founded in 1966, the Bonita Springs-Estero REALTORS® is a local trade organization of over 1,000 REALTORS® and more than 120 affiliated industry members. Bonita Springs-Estero REALTORS® is part of the National Association of REALTORS® and Florida REALTORS® and 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-to-the-minute real estate reports, trends and information about the Bonita Springs and Estero real estate market.