16 Jan Bonita Bay Real Estate News | January 2016
Welcome to 2016!
I am hoping that 2016 will be the year of astonishment in our area regarding real estate activity. 2015 sure was; and, all signs keep pointing in that direction. This New Year, may you be interested in changes as change is one extremely viable way your future would unfold astonishment for you.
As of January 1, 2016, there are 76 active listings in MLS in Bonita Bay; there are 32 single-family homes ranging in price from $395,000 to $5,995,000. The average list price is $1,800,809 and the average days on the market is 133. In the carriage and mid-rise market, there are 19 active listings in Bonita Bay. Prices range from $194,900 to $765,000. The average list price is $440,253. The average of days on the market is 75. In the high-rise market, there are 25 active listings in Bonita Bay ranging in price from $769,000 to $3,400,000. The average list price is $1,611,740 and the average days on the market is 131.
Your Bonita Bay REALTOR®,
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 104 sales with an average sales price of$658,171; these condos were on the market an average of 71 days
- During the 12 months previous, there were 167 sales with an average sales price of condominiums was $608,893; these homes were on the market much longer at 116 days
- During the last 12 months, there were 55 sales with an average sales price of$1,238,645; these homes were on the market an average of 74 days
- During the 12 months previous, there were 82 sales with an average sales price of $1,121,688; these homes were, again, much longer on the market for an average of 93 days
For a list of BONITA BAY homes that are pending at the moment, click here.
Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.
STAGGERING CLOSED SALES VOLUME for DOWNING-FRYE REALTY in 2015
“I’m extremely proud of our agents,” said Mike Hughes, vice president and general manager of Downing-Frye Realty. “Our closed sales volume is ahead of where we were last year. We will close 2015 with over 4,000 closings and a closed sales volume of over $1.9 billion. This will be our best year ever for closed sales volume, other than the 2004-2005 bubble years. 2015 set a new benchmark.”
Bonita/Estero: November 2014 vs. November 2015:
Overall number of active listings: 764 vs. 861
Overall closed sales: 119 vs. 122
Single-family median sale price: $297,000 vs. $295,200
Multi-family median sale price: $250,000 vs. $203,500
Months of inventory during Nov. 2015: 4.9 months for single-family, 4 months for multi-family
Percentage of list price for overall sales during Nov. 2015: 96.34 percent
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
Latest Creekside Course Update
Check out Bonita Bay Club’s newest video with EJ McDonnell, director of golf, and Hal Akins, director of golf course operations, as they describe the latest Creekside Course renovations at Bonita Bay Club.
To view and subscribe to the Bonita Bay Club YouTube channel, click here.
Online Version of the Bonita Bay Property Owners Handbook Available
Bonita Bay real estate property owners who need access of the Property Owners Handbook may view the handbook online. Click the image to the right to access the online version of the handbook.
Businesses Discovers Lee County’s Charms
More corporations than ever before are relocating to and expanding in Fort Myers and surrounding communities. Robust infrastructure, a top-notch education system (11 colleges and universities are situated here) and outstanding quality of life repeatedly draw corporate relocations to this county of 700,000 residents on the Gulf Coast.
“Lee County’s attractive real estate market, pro-business climate and convenient domestic and international flight access via Southwest Florida International Airport continue to be compelling reasons for companies to choose Lee County,” said Glen Salyer, assistant county manager and acting director, Lee County Economic Development.
In November, Hertz took occupancy of its new corporate headquarters facility in Estero. Gartner Group recently expanded into a second Class A office building on its Fort Myers campus, making it the second-largest site in its global footprint.
Newcomers to the bustling business scene include Camuto Group, Universal Trailer Holdings Corp. (UTC) and Wawa. The Philadelphia-based convenience store chain for the first time in company history held three grand openings in a single day in Cape Coral-Fort Myers.
“Lee County met all the key requirements in our search for a new corporate headquarters location, and I’m confident the location will serve our business and employees effectively,” says Jim Galeese, chief financial officer of UTC.
With 50 miles of beaches and 230-plus square miles of inland waterways, Lee County is among the most scenic places to relocate or expand in Florida. The American Lung Association ranked the Cape Coral-Fort Myers area No. 1 for cleanest air quality. But it’s the rich economic environment that Lee County has created that attracts businesses and keeps them here.
For example, Hertz Equipment Rental Corp. also has chosen Lee as its home. Now based in Bonita Springs, the company represents the follow-on investment anticipated in the wake of the Hertz relocation.
Relocations may grab headlines, but company expansions create the bulk of Lee’s new jobs. Somero Enterprises recently broke ground on its $5-million, 14,000-square foot global headquarters and training facility. The company previously relocated to Fort Myers from New Hampshire. In addition, Lee County Commissioners recently closed expansion deals with First Family Insurance, Paramount Transportation Logistics and Advanced Components International. The three companies, representing financial services, supply-chain management and advanced-manufacturing sectors, illustrate the diverse industry mix present in Lee County.
The number of corporate prospects continues to grow. “We are finding that principal decision makers want to spend time here – the cost of living is low, office-space costs are reasonable and the quality of life is unparalleled,” Salyer says.
Source: Florida Trend and the Lee County Economic Development Office.
BONITA BAY REAL ESTATE TIPS: Determining the Value of Your Home.
Comparative Market Analysis (CMA) is essential to determine the value of your Bonita Bay residential property. Location and characteristics of the property are the key elements in determining value. Therefore, the basis for valuation is similar properties in your area. The market analysis takes into account the amount received from recent sales of comparable properties and the quantity and quality of comparable properties currently on the market. The desired end result is to find a price that will attract a willing and able buyer in a reasonable time.
Once the value of your Bonita Bay home has been determined, you can decide on an offering price that will achieve your goals. Generally, the price should not exceed the value by more than 5% or potential buyers may not even make offers. Naturally, if you want to sell quickly your asking price should be very near the value.
The following are a few things to keep in-mind about pricing:
Realistic pricing will achieve maximum price in a reasonable time
Your cost or profit desire is irrelevant; the market determines the price
The cost of improvements are almost always more than the added value
Houses that remain on the market for a long time do not get shown
A house that is priced right from the beginning achieves the highest proceeds