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Undiscovered gem in Southern state where there's sunshine 300 days a year and homes are getting cheaper
A city in scenic Florida has a surprisingly uncompetitive housing market - one that could be capitalized on if handled correctly.
Bonita Springs is located on the state's Gulf Coast in the southwest, and currently has multiple three-bedrooms that could be had for around $500,000.
It boasts an abundance of beautiful beaches, golf courses and roadside attractions, not to mention the annual boat parade and mom-and-pop shops galore.
At the moment, the median listing home price sits at around $685,000, down two percent over year.
The median home sold price, however, is an even more welcoming $566,3000 - indicating a buyer's market for those seeking to strike while the iron's hot. That said, abodes in the beach-town appear to be getting cheaper, despite their appeal.
Bonita Springs is located on the state's Gulf Coast in the Southwest, and at the moment has a surprisingly uncompetitive housing market
Currently in the midst of a buyer's market, the town has multiple three-bedrooms that could be had for less than half a mill, like this one priced at $489,000
'I love the uncrowded beaches, the beautiful golf courses designed by some of golf’s legends,' Chuck Saunders, regional sales director for wine wholesaler and importer Biagio Cru, told Travel + Leisure of his experience with the city earlier this year.
'My wife and I got married on Lovers Key on Thanksgiving in 2018, so it holds a special place for us.'
Trish Leonard, owner of Bonita Springs-based public relations agency TLC Marketing & Creative Services, added: 'We have small-town charm with a big, bright future.'
'There are beautiful parks, more than 20 golf courses, fantastic music venues, one of Florida’s last roadside attractions, big events like our annual boat parade, mom-and-pop shops and restaurants - some that have been here for decades.
'And we’re growing,' she said of the city's population increasing four-fold to nearly 60,000 since it was christened Bonita Springs to entice settlers in the early 20th century.
A resident since 1983, she's seen the local population rocket from 43,000 in 2010, and 32,000 the decade before.
As Leonard mentioned, the city not far from Fort Myers still manages to retain the feeling of a small town.
Secluded spots like Little Hickory Island Beach Park and Bonita Beach Park help accomplish this, along with the bungalows that line its sun-soaked streets.
It boasts an abundance of beautiful beaches, golf courses, and roadside attractions, as well as idyllic weather
At the moment, the median listing home price sits at around $685,000, down two percent over year. Properties like this three-bedroom, two-bath on Wood Abis Avenue are selling for $549,000
Serene waterways, secluded beaches, and a tight-knit town add to its alluring reputation at as well, with residents also known to be remarkably friendly
Serene waterways, secluded beaches, and a tight-knit town add to its alluring reputation at as well, with residents also known to be remarkably friendly.
Moreover, the town is located just 15 miles from Naples, which itself is an attraction and an impressive city with plenty to do.
In-town, visitors and locals alike will have access to unique past-times such as open-air shopping and dining along Bonita Bay, also home to the Bonita Springs Farmers Market every Saturday from October to May.
Another oceanside eatery in Tarpon Bay, located at the Hyatt Regency resort and spa, offers a menu of fresh seafood year-round.
There also boutique hotels like Shangri-La Springs, located downtown.
To the north, as Saunders mentioned, there's Lovers Key State Park, a popular swimming and kayaking spot.
It's comprised of four barrier islands home surrounded by waters filled with manatees and dolphins, while the Everglades Wonder Gardens features no shortage of orchids, parrots and reptiles.
Other parks sport sights like sand dunes and spots for fishing and shelling, as the town's white sand beaches and crystalline water remain the main draws.
Sporting 'a small-town charm with a big, bright future', the town has events like its annual boat parade each year
It also sports nearly 300 days of sunshine per year - all the ingredients for the perfect beach getaway
If seafood isn't your thing, the town's oldest restaurant, Buffalo Chips, is known for wings made with a secret family recipe that has made fans out of figures as far ranging as Bob Denver and members of Guns N' Roses.
It also has nearly 300 days of sunshine per year - all the ingredients for the perfect beach getaway.
For those looking for something permanent, Homes in Bonita Springs sold for 5.88 percent below asking on average last month.
That's due to the supply of homes currently being greater than the demand - creating a buyer's market.
At the moment, listing prices appear to be trending downward, so consider Bonita Springs a temporary bargain.
This comes after rates for Florida Home insurance recently became the highest in the US - a development mostly spurred by the state's outsized amount of hurricanes.
'A "hurricane season from hell" could pile crisis upon crisis,' vice president of carrier management and operations for digital insurance agent Insurify Betsy Stella told News-Press at the time, speaking to the paper this past April.
'The financial solvency of all insurance companies will be tested,' Stella said of the prospect, which said will 'especially [affect] newer providers who have stepped into the market recently.
This comes as condo-living is experiencing a downturn, as the concept continues become less desirable due to an absence of land ownership. A condo in in Saint Petersburg is seen here
'Citizens (Florida's insurer of last resort), too will be tested,' she added, as the state managed to defy the odds and avoid a major hurricane this summer.
Compounding this unseen crisis is the current cost of condo-living in the Sunshine State, with Homeowners Association (HOA) dues up more than 15 percent from a year ago in cities like Tampa, Orlando and Fort Lauderdale.
This comes in contrasts to the median gain of 6 percent seen statewide, as the condos continue to become less desirable due to an absence of land ownership.
The concept has been a staple for Florida in the past, but as dues that go toward things like building repairs, operation costs, staff, and amenities like pools and fitness centers also dissuade would-be buyers.
As a result, condo prices are actually falling in parts of the state, as some homeowners associations raise dues to help cover losses incurred from less interest and the simultaneous rise in insurance costs.
Nearly three-quarters of homeowners in Florida told Redfin last month that they have seen a rise in insurance costs or changes in coverage, with the state now the de facto epicenter of the unfolding housing crisis.
Experts have also pegged recent inflation as a reason for local hikes in HOA, as it causes the cost of maintenance and repairs to rise as well.