09 Jun Bonita Bay Real Estate News | June 2016
As of June 1, 2016, there are 87 active listings in MLS in Bonita Bay, which is 15 less than last month. There are 36 single-family homes ranging in price from $500,000 to $5,500,000. The average list price is $1,655,968 and the average days on the market is 112. The combined days on the market is 174. In the carriage, mid-rise, and attached villa market, there are 25 active listings in Bonita Bay. Prices range from $175,000 to $569,00. The average list price is $370,992. The average of days on the market is 80. The combined days on the market is 138. In the high-rise market, there are 25 active listings in Bonita Bay ranging in price from $699,900 to $2,999,950. The average list price is $1,730,878 and the average days on the market is 149. The combined days on the market is 161.
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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 110 sales with an average sales price of $677,490; these condos were on the market an average of 76 days; combined days on the market is 154.
- During the 12 months previous, there were 139 sales with an average sales price of condominiums was $670,938; these homes were on the market for 79 days; combined days on the market is 139.
- During the last 12 months, there were 53 sales with an average sales price of $1,170,134; these homes were on the market an average of 101 days; combined days on the market is 173.
- During the 12 months previous, there were 78 sales with an average sales price of $1,208,778; these homes were on the market for an average of 73 days; combined days on the market is 169.
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SWFL Real Estate Challenges and Opportunities
“Every year has its challenges,” said Mike Hughes, vice president and general manager of Downing-Frye Realty, “but it’s how you meet those challenges that determines success. In spite of the severe stock market decline in January, the deflated Canadian dollar and the negative national political scene, Downing-Frye is having another good year. 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 1,100 transactional sides which equates to just over $700 Million in closed sales volume. Our listing inventory of over 1,300 properties is impressive. Both 2014 and 2015 were spectacular years for sales activity, and hopefully this year will be another good year. We believe that the steady sales pace will continue, and we’re cautiously optimistic for the summer months. Great opportunities exist right now for buyers, and those opportunities could already be cherry-picked if they wait too long to purchase.”
Florida’s housing market reported increased new listings, rising median prices, fewer days to a contract and fewer cash closed sales in April. Sellers continued to get more of their original asking price at the closing table. Sellers of existing single-family homes in April received 95.9 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.5 percent (median percentage). The statewide median sales price for single-family
existing homes in April was $213,000, up 9.2 percent from the previous year. Inventory was at a 4.5-months’ supply in April for single-family homes and at a 6.3-months’ supply for townhouse-condo properties.
Lawrence Yun, NAR chief economist, says April’s sales increase signals slowly building momentum for the housing market this spring. “Primarily driven by a convincing jump in the Midwest, where home prices are most affordable, sales activity overall was at a healthy pace last month as very low mortgage rates and modest seasonal inventory gains encouraged more households to search for and close on a home,” he said. Total housing inventory at the end of April increased 9.2 percent to 2.14 million existing homes available for sale, but is still 3.6 percent lower than a year ago (2.22 million). Unsold inventory is at a 4.7-month supply at the current sales pace, up from 4.4 months in
March. “Looking ahead, with demand holding steady and supply levels still far from sufficient, the market for entry-level and mid-priced homes will likely continue to be the most competitive heading into the summer months,” says Yun.
BONITA /ESTERO: APRIL 2016 VS. APRIL 2015:
Overall number of active listings: 954 vs. 770
Overall closed sales: 206 vs. 251
Single-family median sale price: $375,000 vs. $400,000
Multi-family median sale price: $315,000 vs. $255,000
Apr. 2016 inventory: 6.4 months for single-family, 5.3 months for multi-family
Apr. 2016 percentage of list price for overall sales: Approx. 95 percent
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
Bonita Bay Club Director of Golf Named SWFL PGA Pro of the Year
The Southwest Florida Pro Golf Association (PGA) named E.J. McDonnell the 2015 Golf Professional of the Year, earning him the top honor for a pro in the area.
McDonnell began his career as a member of the outside golf operations team with Bonita Bay Club in 1999 and now serves as the Club’s PGA Director of Golf. According to decision guidelines, his performance, service, and promotion of the game were considered for the award.
“To be recognized by my peers for this award is an incredible feeling. An award like this is about a lot more than just the individual being recognized. I feel very fortunate to have been supported throughout my career by our membership, co-workers, friends, family and fiancé Wendy,” McDonnell said.
Having won the Bill Strausbaugh award for club relations last year, determined as a top professional in providing employment conditions, McDonnell’s newest honor bolsters his trek up the golf hierarchy and affirms ha top-tier positioning.
McDonnell credits this award to those who have guided him along the way. “During my life I have been mentored by some of the finest professionals in the country, starting with Jim Hasley, an Iowa PGA Hall of Fame member, who taught me not only the game of golf, but also how to be humble in winning, and especially when losing. This award is a testament to the friendship and loyalty of all that have supported me during my career.”
Source: Naples Herald
This Year’s Spring Market: Better than Expected
The data emphatically shows the housing market keeps on getting stronger this spring.
After last week’s report on existing-home sales rising 1.7 percent in April, we announced this morning that pending home sales (signed contracts) last month jumped 5.1 percent to an index reading of 116.3.
The last time the index was this high (February 2006; 117.4), Phoenix Suns point guard Steve Nash was on his way to winning his second Most Valuable Player award, Beyonce’s “Check On It” was the number one hit on the Billboard 100, and Shaun White won a gold medal in the Men’s Halfpipe competition at the 2006 Winter Olympics in Turin, Italy.
In other words, despite ongoing supply constraints and affordability concerns, it’s been a long time since the housing market has seen this many buyers signing the dotted line to purchase a home.
Can the trend continue? Lawrence Yun, NAR chief economist, thinks so. Even if mortgage rates rise soon, as expected at some point once the fading effects of last year’s cheap oil on consumer prices edges up inflation, he says sales have legs for further expansion heading into the summer. They key denominator is supply needs to at least come close to meeting the pent-up demand in many markets.
Source:National Association of REALTORs®
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.