Bonita Bay Real Estate News | July 2018

Bonita Bay Real Estate News | July 2018

As of July 1, 2018, there are 94 active listings in MLS in Bonita Bay; 6 less than last month. There are 31 single-family homes ranging in price from $459,000 to $7,500,000. The average list price is $1,581,813 and the average days on the market is 148. The combined days on the market is 195. In the carriage,  mid-rise, townhouse,  and attached villa market, there are 26 active listings in Bonita Bay. Prices range from $250,000 to $549,000. The average list price is $386,781. The average of days on the market is 119. The combined days on the market is 184. In the high-rise market, there are 37 active listings in Bonita Bay ranging in price from $749,000  to $2,650,000. The average list price is $1,626,485 and the average days on the market is 232. The combined days on the market is 264.

 

Whether you are buying or selling, if you are looking for REALTOR® representation, think of me.

 

Your Bonita Bay REALTOR®,
Ed Gongola

 

 

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 76 sales with an average sales price of$381,737; these condos were on the market an average of 115 days; combined days on the market is 206.
  • During the 12 months previous, there were 84 sales with an  average sales price of condominiums was $372,089; these homes were on the market for 69 days; combined days on the market is 132.

 

BONITA BAY HIGH-RISES
  • During the last 12 months, there were 34 sales with an average sales price of $1,271,551; these homes were on the market an average of 143 days; combined days on the market is 237.
  • During the 12 months previous, there were 24 sales with an average sales price of $1,408,379; these homes were on the market for an average of 154 days; combined days on the market is 232.

 

SINGLE-FAMILY BONITA BAY HOMES

  • During the last 12 months, there were 72 sales with an average sales price of $1,167,462; these homes were on the market an average of 92 days; combineddays on the market is 187.
  • During the 12 months previous, there were 80 sales with an average sales price of $1,159,963; these homes were on the market for an average of 101 days;combined days on the market is 203.

 

 

For a list of BONITA BAY homes sold in the last 12 months, click here.
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.

 

 

 

NEWS RELEASE: Post-Recession Buyers Look at Housing Differently

 

CHICAGO – June 1, 2018 – The Great Recession has had a lasting impact on how consumers shop for homes today, builders say. Even consumers who didn’t lose a home to foreclosure during the housing crisis are shopping for homes more cautiously than they did during the early 2000s and during the height of the housing boom.

 

“Buyers became more cautious in the home buying process,” says Dennis Webb of Fulton Homes. “If they were not directly affected, then they certainly know someone who was.”
The recovery has rolled on for more than eight years and builders say a new breed of homebuyer has emerged. They’re more cautious and prepared than buyers were before the housing crisis. For example, David Weekley’s President John Johnson says that the recession prompted more buyers to change their priorities and the size of home they desired.

 

“Instead of looking for the biggest home they can afford, they’re shopping for a home that fits their needs at the right price,” Johnson told BUILDER magazine. “They are conscientious about the total costs to operate the home – energy bills, insurance, reserves, maintenance and so on – which was not the case directly prior to the downturn.”

 

Today’s buyers aren’t stretching themselves as much financially as they did in the early 2000s either with the purchase of a home and their mortgage. Some of that is because lenders won’t let them, however, through stricter underwriting standards.
The American dream of homeownership shifted following the recession, says Tommy Owings, president of Silverstone Residential, an Atlanta-area firm.

 

“Prior to the recession, many buyers looked at homeownership predominantly as an extension of their total net worth,” Owings says. “A large swatch of the market in general has since taken a more practical approach, in realizing that they do not all need to have mini-mansions but instead appreciate the bottom-line value, maximization of space, and the realization that a home is not just an investment but a place for homeowners and families to live and grow within a healthy means.”

 

The building industry also has seen a lingering impact post-recession and the new-home market has yet to fully recover. Builders have been pointing to an ongoing labor shortage from workers who left during the recession and never returned, which is delaying timetables and also raising costs in new-home construction.

 

Source: “Buyers Still Affected by the Recession’s Hard Lessons,” BUILDER (April 30, 2018)
© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688

 

 

 

 

 

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JULY 2018 MARKET UPDATE

STRONG INVENTORY, ACTIVE MARKET
“Downing-Frye is having another good year,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty. “Sales have been at a steady pace and we have more listings now than we did this time last year. We’ve already closed over 1,600 transactional sides which equates to just over $800 Million in closed sales volume. Our listing inventory of over 1,000 properties is impressive. Great opportunities exist right now for buyers, and we anticipate that this will be quite a busy summer. Our pending sales for the month of June are up 12 percent over last June for the first twenty days of the month.”

 

BONITA /ESTERO: STRONG DEMAND, MORE SALES
In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell. Sales of single-family homes statewide totaled 28,071 last month, up 0.8 percent compared to May 2017. The statewide median sales price for single-family existing homes was $255,000, up 6.7 percent from the previous year. Townhouse/condo statewide closed sales totaled 12,012 last month, up 4.1 percent compared to a year ago. “Florida’s resale market for existing homes continues ahead of last year’s pace, with median sale prices and the number of sales checking in at levels above where they were at this time in 2017,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “Price growth for both single-family homes and for condo and townhouse properties was slightly more modest than the year-over-year increases we observed in previous months of 2018, but not by much.

 

FLORIDA: INCREASED ACTIVITY
New construction home sales are proving to be a challenge for those homes currently on the market in need of an upgrade. “Homeowners in the market continue to realize that a price reposition is necessary if there is no activity and the property’s interior and exterior style is more than three years old,” stated Jerry Murphy, Managing Broker, Downing-Frye Realty, Bonita Springs. Comparing May 2018 with May 2017: closed sales are up 17.5 percent, the median sales price is up 14.4 percent, the average sales price of $559,248 is up 23 percent, new pending sales are up 16.8 percent, and the active listing inventory of 602 properties is 13.8 percent more than last May. The overall message for the Bonita Springs/Estero markets from area brokers is to not give credence to the time of year for buying or selling as open house activity is still very strong moving into the summer months.

 


USA: EXISTING HOMES SALES DOWN
Existing-home sales are now 3 percent below a year ago and have fallen year-over-year for three straight months. Lawrence Yun, NAR chief economist, says a solid economy and job market should be generating a much stronger sales pace than what has been seen so far this year. “Closings were down in a majority of the country last month and declined on an annual basis in each major region,” he said. “Incredibly low supply continues to be the primary impediment to more sales, but there’s no question the combination of higher prices and mortgage rates are pinching the budgets of prospective buyers, and ultimately keeping some from reaching the market. The abrupt hike in mortgage rates this spring, along with price appreciation and competition being the strongest in the entry-level part of the market, is why first-time buyers are not as active as they should be,” said Yun.

 

Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.

 

 

SUMMER Resources

Looking for a list of Golf or Dining Reciprocals? Here they are, available for download:

 

 

Bonita Bay Dining Schedule

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 9:00-11:00 p.m.

 

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

 

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)

 

BREEZEWAY BAR & CAFE
Monday – Wednesday: 11:00 a.m – 5:00 p.m.
(Food service until 2:00 p.m.)
Thursday – Sunday: 11:00 a.m – 9:00 p.m.
Live Entertainment Saturday Night

 

 

 

 

Naples’ Josh Pisarri Becomes Second Amateur to Win E-Z-GO South Florida PGA Open at Bonita Bay Club Naples!

Josh Pisarri photo“My whole intent coming into the summer was play and then just enjoy it,” said Pisarri, who is finishing up his Master’s degree in business administration at Florida Gulf Coast University. “I put a lot of pressure on myself for 5-6 years, and I felt like I should be playing well, and I struggled.” Now it doesn’t matter. It’s just for fun and enjoy the competition. It’s really enjoyable. It’s kind of taken the pressure off me and I’m relaxed and can just go out and play now.”

 

 

 

 

Broker's Corner

 

A Word from Downing-Frye Broker & General Manager Mike Hughes

 

Downing-Frye Realty, Inc. recorded pending sales for the month of June are UP 12% over last June for the first twenty days of the month. It looks like we are off to a good start for the Summer. We are working on a number of projects right now. We will be rejoining the International MLS this week. That means that your listings will appear not just on the local MLS but also the International MLS. In the case you are wondering, “What are you doing to market my property to the international community?” We will soon feed international home-search websites with Downing-Frye listings. In addition, we are working on a product that will be syndicating your home to a large amount of channels. More on that in the near future.

 

 

 

 

 

 

Bonita Bay MAY Events Calendar

DINING & SOCIAL

July 6 | POETS Night – Italian “Billy Dean & Dawn”
July 13 | POETS Night – Chef’s Choice
July 20 | POETS Night – Turkey “Manhattan Connection”
July 27 | POETS Night – Prime Rib “Wendy Renee & Co.”
SUMMER Resources
 

Looking for a list of Golf or Dining Reciprocals? Here they are, available for download:

 

 

 

 

The Hidden Value of Home Ownership.

 

The hidden value of home ownership

 

 

 

Official Bonita Bay Club Brochure

unnamed (2)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.