Bonita Bay Real Estate News | April 2018

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 77 sales with an average sales price of$374,783; these condos were on the market an average of 92 days; combined days on the market is 163.
  
• During the 12 months previous, there were 74 sales with an average sales price of condominiums was $393,322; these homes were on the market for 70 days; combined days on the market is 141.

• During the last 12 months, there were 67 sales with an average sales price of $1,179,915; these homes were on the market an average of 108 days; combined days on the market is 209.
• During the 12 months previous, there were 81 sales with an average sales price of $1,078,241; these homes were on the market for an average of 97 days; combined days on the market is 193.

“The real estate market is poised for a good year,” said Mike Hughes, General Manager for Downing- Frye Realty, Inc. “The economy is doing much better and many Americans have seen their financial picture improve, which should translate to increased sales. During March 2018, we had 402 pending sales contracts turned in, which was a 15 percent increase over March 2017 pending sales and a 32 percent increase in pending sales volume. March’s pending sales contracts for high end properties were up 12 percent, the below $250,000 market was up 15 percent, and the $250K-$500K market was up 21 percent. With Downing-Frye’s current listing inventory of over 1,400 properties, one of the highest inventories in the area, we are positioned well for the summer season.”

FLORIDA: MORE SALES & HIGHER PRICES
Florida’s housing market reported more closed sales, more new listings and higher median prices in February. Sales of single-family homes statewide totaled 18,620 last month, up 3.3 percent compared to February 2017. Meanwhile, the statewide median sales price for single-family existing homes was $246,500, up 9.6 percent from the previous year. Looking at Florida’s townhouse-condo market, statewide closed sales totaled 8,457 last month, up 6.4 percent compared to February 2017. “Sales of existing homes rose modestly in February, while sale prices continued to climb at a very brisk pace,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “Year-over-year sales growth for single-family homes checked in at 3.3 percent in February – the largest such gain we’ve seen since last June.

USA: PENDING SALES SNAP BACK
Pending home sales snapped back in much of the country in February, but weakening affordability and not enough inventory on the market restricted overall activity compared to a year ago. Lawrence Yun, NAR chief economist, said, “The expanding economy and healthy job market are generating sizeable home buyer demand, but the miniscule number of listings on the market and its adverse effect on affordability are squeezing buyers and suppressing overall activity.” With the start of the spring buying season in full swing, Yun believes that one of the top wild cards for the housing market in coming months will be how both buyers and potential sellers adjust to the steady climb in mortgage rates since late last year. For the year, Yun forecasts existing-home sales to be around 5.51 million – flat from 2017.

CLUBROOM
Lunch Daily: 11:00 a.m. – 2:00 p.m.
Sunday Brunch: 10:30 a.m. – 2:00 p.m.
Tuesday – Thursday à la Carte Dinner: 5:30 p.m. – 8:00 p.m.
Friday – POETS Night  6:00-8:00 p.m.
with live music 10:00-11:00 p.m.

55th HOLE
Saturday – Thursday: 11:00 a.m. – 10:00 p.m.
Friday: 11:00 a.m. – 11:00 p.m.
(Food service until 9:00 p.m. nightly)
Live Entertainment on Wednesday Nights

MEN’S GRILL
Daily: 11:00 a.m. – 4:00 p.m.

WAVE CAFE
Monday through Friday 8:00 a.m. – 2:00 p.m.
(Food service beginning at 10:30 a.m. Daily)

BONITA BAY CLUB NAPLES
Lunch Daily 11:00 a.m. – 3:00 p.m.

April 2    | Junior Tennis Clinics | 9:00 a.m. to 10:00 a.m. – 10 to 14 years old | $27.00 per hour