11 Apr Bonita Bay Real Estate News | April 2016
As of April 1, 2016, there are 104 active listings in MLS in Bonita Bay, which is 2 less than last month. There are 48 single-family homes ranging in price from $429,900 to $5,500,000. The average list price is $1,695,485 and the average days on the market is 116. The combined days on the market is 163. In the carriage, mid-rise and attached villa market, there are 26 active listings in Bonita Bay. Prices range from $199,900 to $765,000. The average list price is $409,765. The average of days on the market is 62. The combined days on the market is 135. In the high-rise market, there are 30 active listings in Bonita Bay ranging in price from $719,000 to $3,150,000. The average list price is $1,622,933 and the average days on the market is 112. The combined days on the market is 129.
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SUMMARY OF BONITA BAY HOME SALES
If you are considering selling your Bonita Bay home, here are some statistics that may help you decide to place your home on the market:
- Within the last 12 months, there were 118 sales with an average sales price of$679,870; these condos were on the market an average of 67 days; combineddays on the market is 140.
- During the 12 months previous, there were 158 sales with an average sales price of condominiums was $630,677; these homes were on the market for 99 days; combined days on the market is 165.
- During the last 12 months, there were 78 sales with an average sales price of$1,099,648; these homes were on the market an average of 73 days; combineddays on the market is 156.
- During the 12 months previous, there were 88 sales with an average sales price of $1,062,059; these homes were on the market for an average of 104 days;combined days on the market is 202.
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Q1: Good But Not Great
“The market in the first quarter was good but not great,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty. “There may be an election cloud affecting consumer confidence right now. This, among other influences like the fluctuating stock market, the Canadian exchange rate, and the shortage of low-end inventory are all factors creating headwinds in this market. Comparing this year to last year is a bit unfair since we raised the bar pretty high last year. The reality is that we are having a more normal season for pending sales, while our listing inventory continues to be strong.”
Florida’s housing market reported increased new listings, rising median prices and fewer all-cash closed sales in February. Closed sales of single-family homes statewide totaled 18,159, remaining relatively the same (up 0.4 percent) as the February 2015 figure. The statewide median sales price for single-family existing homes last month was $200,000, up 11.1 percent from the previous year. The statewide median price for townhouse-condo properties in February was $150,000, up 5.6 percent over the year-ago figure. February marked 51 consecutive months that statewide median sales prices for both single-family homes and for townhouse-condo properties rose year-over-year. Inventory was at a 4.5-months’ supply in February for single-family homes and at a 6.3-months’ supply for townhouse-condo properties.
Pending home sales rose solidly in February to their highest level in seven months and remain higher than a year ago. Lawrence Yun, NAR’s chief economist, said, “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.” Existing-homes sales this year are forecast to be around 5.38 million, an
increase of 2.4 percent from 2015. The national median existing-home price for all of this year is expected to increase between 4 and 5 percent. (In 2015, existing-home sales increased 6.3 percent and prices rose 6.8 percent.)
- Overall number of active listings: 975 vs. 864
- Overall closed sales: 105 vs. 140
- Single-family median sale price: $354,500 vs. $380,000
- Multi-family median sale price: $297,500 vs. $225,000
- Feb. 2016 inventory: 6.4 months for single-family, 5.1 months for multi-family
- Feb. 2016 percentage of list price for overall sales: 95.49 percent
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
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