04 Apr Bonita Bay Real Estate News | April 2017
As of April 1, 2017, there are 118 active listings in MLS in Bonita Bay, 3 less than last month. There are 40 single-family homes ranging in price from $499,900 to $5,495,000. The average list price is $1,629,107 and the average days on the market is 133. The combined days on the market is 205. In the carriage, mid-rise, townhouse, and attached villa market, there are 45 active listings in Bonita Bay. Prices range from $159,900 to $639,000. The average list price is $396,082. The average of days on the market is 119. The combined days on the market is 161. In the high-rise market, there are 33 active listings in Bonita Bay ranging in price from $425,000 to $3,710,000. The average list price is $1,499,997 and the average days on the market is 123. The combined days on the market is 128.
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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 72 sales with an average sales price of $394,525; these condos were on the market an average of 71 days; combined days on the market is 142.
- During the 12 months previous, there were 76 sales with an average sales price of condominiums was $399,708; these homes were on the market for 47 days; combined days on the market is 107.
- Within the last 12 months, there were 31 sales with an average sales price of $1,317,536; these condos were on the market an average of 136 days; combined days on the market is 222.
- During the 12 months previous, there were 32 sales with an average sales price of $1,307,578; these condos were on the market an average of 138 days; combined days on the market is 229.
- During the last 12 months, there were 75 sales with an average sales price of $1,075,069; these homes were on the market an average of 102 days; combined days on the market is 200.
- During the 12 months previous, there were 81 sales with an average sales price of $1,097,545; these homes were on the market for an average of 72 days; combined days on the market is 154.
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Downing-Frye Realty Recognized as One of Top Brokerage Firms in U.S.
APRIL MARKET UPDATE
“Downing-Frye just opened its newest office on Marco Island,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty. “We now have four locations to serve clients, covering the vast majority of Collier and Lee Counties. Additionally, 67 real estate professionals joined us during the first quarter of 2017. A result of our success is our position in the 2016 Real Trends TOP 500 survey of over 80,000 nationwide brokerages. Downing Frye was listed at #9 in Florida for closed sales volume and #143 nationwide. We also were #18 in Florida for closed transactional sides and #288 nationwide.”
February 2017 showed an increase in pending sales versus February 2016. The overall pending sales for single family homes were up by 2 percent, but up by 16 percent in the $500K to $1 million price segment. Additionally, homes in the $1 to $2 million price segment saw a 13 percent increase in pending sales versus this period last year as well. However, the days on market continues to increase. “The increase in pending sales is due to sellers making critical price adjustments,” stated Jerry Murphy, Managing Broker, Downing-Frye. “The continued increase in days on market reflect those homes that are still not priced at fair market value.” The condominium market continues to be flat with very little change versus this time last year. Open house activity has also been very high in the Bonita Springs and Estero markets. Area brokers are seeing two types of open house visitors: those who already live in the area who want a lifestyle change and those who are visiting the area and are considering a purchase.
Florida’s housing market continued to report a tight supply of homes for sale and rising median prices in February. Sales of single-family homes statewide remained relatively flat last month, totaling 18,033, down only 0.5 percent compared to February 2016. The statewide median sales price for single-family existing homes last month was $225,000, up 12.5 percent from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in February was $167,500, up 11.7 percent over the year-ago figure. February marked the 63rd month in a row that statewide median prices for both sectors rose year-over-year. For the second consecutive month, inventory remained at a tight 4.2-months’ supply in February for single-family homes, and was at a 6.4-months’ supply for townhouse-condo properties.
After starting the year at the fastest pace in almost a decade, existing-home sales slid in February but remained above year ago levels both nationally and in all major regions. Lawrence Yun, NAR chief economist, says closings retreated in February as too few properties for sale and weakening affordability conditions stifled buyers in most of the country. “Realtors® are reporting stronger foot traffic from a year ago, but low supply in the affordable price range continues to be the pest that’s pushing up price growth and pressuring the budgets of prospective buyers,” he said. “Newly listed properties are being snatched up quickly so far this year and leaving behind minimal choices for buyers trying to reach the market.” Properties typically stayed on the market for 45 days in February, down from 50 days in January and considerably more than a year ago (59 days).
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
EMPLOYEE SPOTLIGHT: Bonita Bay Director of Community Maintenance Bill Lynn
“The pivotal moment for me came early in my Bonita Bay Career. I was promoted to Natural Area Technician, and a few months later, my mother was diagnosed with ALS (Lou Gehrig’s Disease). I was ready to move back home to be closer to my her, but in true “motherly form,” she encouraged me to stay the course with my chosen career path. She knew that I had a once and a lifetime opportunity and we had “plenty of time.” She was right about the “once and lifetime opportunity,” unfortunately she was wrong on the “plenty of time” part. When she passed away in March 1995, she solidified my resolve to make this career choice the opportunity she envisioned.”
— Bill Lynn —
Find out more about Bill as part of a series of the “Meet Your Manage” series of blog posts presented by the Bonita Bay Community Association. Here’s a link to their blog.
Bonita Bay Club Golf Pro Qualifies for PGA National Championship 2017
Bonita Bay Club General Manager Dan Miles said, “This is a tremendous accomplishment for Justin.” He worked hard to become a PGA member and still strives to keep his golf game in competitive shape. Justin is a great ambassador for the game of golf, and Bonita Bay Club.”
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Bonita Bay April Tennis & Golf Events Calendar
The Four Ways | April 11 | Sabal | 9:00 a.m. Shotgun | Scramble & Chapman Alternate Shot
Home Buyer Statistics
- First-Time vs. Repeat Buyers:
- First-time buyers: 35%
- Median age of first-time buyers: 32
- Median age of repeat buyers: 52
- Median household income of first-time buyers: $72,000
- Median household income of repeat buyers: $98,000
- The typical home purchased in 2015 was 1,900 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.
- Among those who financed their home purchase, buyers typically financed 90% of the home price.
- 88% of buyers purchased their home through a real estate agent or broker-a share that has steadily increased from 69 percent in 2001.
- Buyers who definitely would use same agent again: 73%
Where buyer found the home they purchased:
- Internet: 51%
- Real estate agent: 34%
- Yard sign/open house sign: 8%
- Friend, relative or neighbor: 4%
- Home builder or their agent: 2%
- Directly from sellers/Knew the sellers: 1%
- Print newspaper advertisement: 1%
Official Bonita Bay Club Brochure
Looking for an overview of the Bonita Bay Club for yourself or to send to others? Here’s a quick look at the Bonita Bay Club’s five championship golf courses designed by two legendary architects; an 18-court tennis center; two welcoming clubhouses; Lifestyle Center with a state-of-the-art fitness center and spa; and, a world-class staff — the elements that make Bonita Bay Club South Florida’s premier country club.
Owned and governed by its members since 2010, Bonita Bay Club offers membership levels in golf and sports that suit the preferences of active Bonita Bay residents. In addition, limited golf memberships are available for the the Naples Club only. Download brochure.