01 Apr Bonita Bay Real Estate News | April 2019
As of April 1, 2019, there are 134 active listings in MLS in Bonita Bay; 18 less than last month. There are 44 single-family homes ranging in price from $449,000 to $5,950,000. The average list price is $1,814,488 and the average days on the market is 166. The combined days on the market is 190. In the carriage, mid-rise, townhouse, and attached villa market, there are 32 active listings in Bonita Bay. Prices range from $259,000 to $729,000. The average list price is $401,141. The average of days on the market is 144. The combined days on the market is 150. In the high-rise market, there are 58 active listings in Bonita Bay ranging in price from $689,900 to $6,750,000. The average list price is $2,023,483 and the average days on the market is 247. The combined days on the market is 286.
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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:
BONITA BAY CARRIAGE, MID-RISE, TOWNHOUSE AND ATTACHED VILLA HOMES
- Within the last 12 months, there were 79 sales with an average sales price of $375,243; these condos were on the market an average of 95 days; combined days on the market is 177.
- During the 12 months previous, there were 81 sales with an average sales price of condominiums was $372,114; these homes were on the market for 99 days; combined days on the market is 170.
BONITA BAY HIGH-RISES
- During the last 12 months, there were 46 sales with an average sales price of $1,490,739; these homes were on the market an average of 181 days; combined days on the market is 457.
- During the 12 months previous, there were 25 sales with an average sales price of $1,306,890; these homes were on the market for an average of 140 days; combined days on the market is 210.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 78 sales with an average sales price of $1,092,168; these homes were on the market an average of 104 days; combined days on the market is 193.
- During the 12 months previous, there were 67 sales with an average sales price of $1,179,915; these homes were on the market for an average of 108 days; combined days on the market is 209.
For a list of BONITA BAY homes that are pending at the moment, click here.
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APRIL 2019 MARKET UPDATE
“March was a huge month for high end pending sales,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “We had 61 pending sales contracts above $1,000,000 and a sales volume for March of over $264,000,000. That is a 14 percent increase in volume over last March with slightly less pending sales contracts. We had 393 pending sales contracts this March compared to 402 last March. The high end market has shown great momentum over the last month. It’s been a solid winter season so far. Now we’re coming into a busy period where a lot of decisions will be made prior to winter visitors going back home.”
BONITA /ESTERO: OPPORTUNITIES REMAIN HIGH
Sellers continued to adjust pricing in February with 762 price repositions. (The current active inventory is 1,696 properties.) Pending sales for February 2019 versus February 2018 show a slight decrease of 2 percent. (For condominiums, pending sales are up while closings are currently lower than this time last year.) Overall inventory in the Bonita Springs and Estero markets for February 2019 showed the highest number of available listings during the same month prior to 2016. The luxury home market also showed an uptick in showings for the $2 million plus price point with closed sales increasing slightly for that price point over this time last year. The average days on market in February 2019 was 103 days, slightly longer than February of last year. At the current level of inventory, the supply is calculated to last 7.8 months.
FLORIDA: MEDIAN PRICES UP
In February, statewide median sales prices for all property types increased year-over-year for the 86th consecutive month. The statewide median sales price for single-family existing homes was $250,000, up 1.3 percent from the previous year, and for condo-townhouse units was $187,500, up 4.7 percent over the year-ago figure. “Half of the single-family homes selling in February were on the market for at least 54 days before going under contract – this compared to a median of 48 days last year,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “In the condo and townhouse category, there’s a similar trend: The median time to contract was 58 days, up from 51 days last year. At a more local level, this median varies widely from market to market, but the upward trend is prevalent throughout the state. Competition between buyers is clearly not as fierce as it was even a year ago. However, that doesn’t mean we’re quite in buyer’s market territory yet.”
USA: EXISTING HOME SALES REBOUND
Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015. Total existing-home sales shot up 11.8 percent from January to a seasonally adjusted annual rate of 5.51 million in February. However, sales are down 1.8 percent from a year ago. The median existing-home price for all housing types in February was $249,500, up 3.6 percent from February 2018 ($240,800), marking the 84th straight month of year-over-year gains. Total housing inventory at the end of February increased to 1.63 million, up from 1.59 million existing homes available for sale in January, a 3.2 percent increase from 1.58 million a year ago. Unsold inventory is at a 3.5-month supply at the current sales pace, down from 3.9 months in January but up from 3.4 months in February 2018. Forty-one percent of homes sold in February were on the market for less than a month.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
- Burden of paying a mortgage (41 percent)
- Unforeseen maintenance issues with the home (35 percent)
- Being locked into one location by buying (17 percent)
- Upkeep of the home (7 percent)
February Market Report Shows Many Options for Buyers
|FEB 2018||FEB 2019||CHANGE|
|Total closed sales (month/month)||695||595||-14%|
|Median closed price (month/month)||$350,000||$335,000||-4%|
|Total active listings (inventory)||6,912||7,442||+7%|
|Average days on market||95||102||+7%|
|Single-family closed sales (month/month)||315||291||-7%|
|Single-family median closed price (month/month)||$439,000||$405,000||-8%|
|Condominium closed sales (month/month)||381||304||-20%|
|Condominium median closed price (month/month)||$275,000||$265,000||-4%|
Bonita Bay Wins Bronze at Association TRENDS 40th Annual Awards Ceremony
Bonita Bay Dining Schedule
(Beginning Oct. 15)
Lunch Daily 11:00 a.m.-2:00 p.m.Sunday Brunch 10:30 a.m.-2:00 p.m.Dinner 5:30-8:00 p.m. Tuesday – ThursdayDinner 6:00-8:00 p.m. Friday POETS NightDinner Saturday nights beginning in January
Daily 11:00 a.m.-10:00 p.m.
Daily: 11:00 a.m.-4:00 p.m. NFL Ticket in Men’s Grill
Sundays during Football Season for 1:00 p.m. games
(Women are invited to attend beginning at noon)WAVE CAFEMonday-Friday-8:00 a.m.-2:00 p.m.Food Service beginning at 10:30 a.m. daily
Lunch Daily 11:00 a.m.-3:00 p.m.
BREEZEWAY BAR & CAFE
11:00 a.m.-5:00 p.m.
11:00 a.m. – 10:00 p.m.
A Word from Downing-Frye Broker & General Manager Mike Hughes
The March pending sales continue to come in at a very high level. This past week we received 25 pending sales a day. It has been a huge month for pending sales above $1,000,000. This month, we have had more pending sales above one million dollars than we have had in ANY month going all the way back to March of 2006!
Between now and May 1, there will be a lot of contracts written. Open houses are a great way to get in front of people. With over 1,300 listings, there are a lot of opportunities here. We had $206 million in pending sales last month. This month, we will probably be above $250 million. Back to back great months.
We are having a strong month for pending sales contracts above $1,000,000.00. So far this month, we have had 41 pending contracts turned in above $1 million. If you went back all the way to April of 2006, we have had only two other months (February and March of 2016 ) where we had over 40 pending contracts above $1 million. I fully expect that we will have a huge month for the high-end properties. We might have the Annual Downing-Frye Billion Dollar Party a little earlier this year! Downing-Frye throws a party when we hit one billion in sales for the year.