People have been building homes in Bonita Springs for over 4,000 years, but it wasn’t until the 1920s that the city became a major tourist attraction, drawing crowds from across the country.

Today, the city is an affluent, attractive place boasting gorgeous beaches, wonderful restaurants, and fantastic recreational facilities. It’s also filled with beautiful homes, bustling businesses, and a thriving tourist industry.

These aspects make Bonita Springs an excellent prospect for real estate investments, although the real estate market is subject to fluctuations from time to time.

Keep reading for an overview of the most prevalent Bonita Springs real estate trends.

Bonita Springs Real Estate Prices

The median price of homes in Bonita Springs during the first quarter of 2023 was $630,000, which is an increase of 3.3% when compared to 2022.

Land prices in Bonita Springs average $10,000 per acre, which is well above the Florida real estate median price of $6,000 per acre. Commercial building prices vary from around $700,000 to several million dollars, depending on their size and location.

Some areas in Bonita Springs have much higher home prices. These are the most expensive neighborhoods in the area:

Mediterra North

Most homes in Mediterra North sell for well over a million dollars, with prices listed as high as $5.7 million. Additionally, rents for single-family homes in this elite area can soar as high as $7,500 per month.

This exclusive resort community occupies a beautiful natural setting on the border with Naples. Housing options in Mediterra North include:

• Single-family homes
• Large estates
• Villas
• Coach homes

Bonita Bay

Bonita Bay offers championship golf against the backdrop of Estero Bay. These communities offer lush settings, resort-style amenities, and direct Gulf access via private boat docks.

There are five championship golf courses in the area, along with:

• World-class tennis programs
• A private marina
• Fitness centers
• A high-end spa and salon
• A private beach pavilion
• An exclusive clubhouse

Barefoot Beach

Barefoot Beach is a tropical paradise offering tranquility, seclusion, and coastal living. This upscale neighborhood features incredible homes with an average sale price of over $1 million.

Easy access to the waterfront area is a top selling point in this part of Bonita Springs. You can choose from high-end condos with water views, single-family estates with beach access, quaint single-family cottages, and plush villas when you shop for homes in this neighborhood.

If you’re looking for real estate with prices closer to the median for Bonita Bay, you should start your search in these neighborhoods:

Bonita Shores

Bonita Shores offers a more affordable boating lifestyle without costly extravagances. You can buy a home in this part of Bonita Springs for around $350,000, especially if you’re not looking for waterfront access.

This non-gated community offers a community clubhouse, a boat ramp with Gulf access, and regular get-togethers like book clubs and potluck dinners.

Bell Villa

This northeastern Bonita Springs neighborhood offers homes for sale in the region of $650,000, making it a top choice for young professionals, families, and retirees.

The community features natural greenery and ponds filled with birds and small animals. It’s a good place to look for single-family homes, luxury homes, condos, and townhomes.

It’s conveniently located next to downtown Bonita Springs, close to the Gulf Coast.

Bonita Springs Home Sales Trends

Most homes in Bonita Springs sell after being on the market for 27 days, which is slightly longer than the national average of 25 days. Last year, the average time on the market was just six days in Bonita Springs and 17 days nationally.

Most homeowners wait 61 days from listing their homes until the completion of the closing process.

In nearby Fort Myers, most homes sell within 20 days, while home sellers in Naples wait for around 37 days for an offer on their homes.

Sale to List Ratio in Bonita Springs

According to Redfin, the Bonita Springs housing market is somewhat competitive. Some homes still get multiple offers, and desirable properties can go pending in about seven days. This is on par with Fort Myers and slightly better than Naples.

In Bonita Springs, 41% of homes sell for 3% below the list price, while 6.7% sell for more than the advertised price.

According to the NAR, home sales in all four major U.S. regions fell by 3.4% in April 2023 compared to 2022. In Bonita Springs, there were 193 homes sold in April 2023; that’s 34 fewer than in April 2022.

Bonita Springs Migration and Relocation Trends

The population of Bonita Springs increases by around 1.6% every year, with most new residents arriving from Chicago, New York, and Boston.

Among Bonita Springs homebuyers, 62% opted to stay in the city, while 38% turned their searches elsewhere, most notably to Sarasota, Tampa, and Asheville.

The city is particularly attractive to job seekers thanks to its bustling economy and a low unemployment rate of just 3.8% compared to the U.S. average of 6%. In Bonita Springs, the job market increased by 1.9% compared to last year.

The average annual income for Bonita Springs residents is almost $10,000 more than the national average of $28,555.

New residents will find many diverse employment opportunities in Bonita Springs. Apart from tourism, major industries in the city include technology, healthcare, and retail.

Then there are the other perks attached to living in Florida, such as no state income tax and almost year-round sunny weather.

Rental Market in Bonita Springs

For newcomers to Bonita Springs, apartment rentals are an attractive option, although rents remain on the high side. The average rent in Bonita Springs is $1,432 per month, with some properties fetching as much as $2,000 per month. The national average rent is $1,163.

Around 80% of Bonita Springs’ 24,377 households own their homes, while 19.5% rent accommodations. Most households comprise married couples with families.

Downtown Bonita Springs is growing rapidly and is a hotspot for commercial rentals. Last year, two new breweries opened in this area, along with several new restaurants and retail outlets.

Investing in Bonita Springs

Bonita Springs is a promising city for those interested in real estate investment thanks to its rapid growth, high rents, and positive economic outlook.

Are you eager to explore the exciting options available to you in this growing city? Get in touch for assistance with all your Bonita Springs real estate requirements.

By Brandon Perini

June 5, 2023