03 Jun Bonita Bay Real Estate News | June 2017
As of June 1, 2017, there are 111 active listings in MLS in Bonita Bay, 11 less than last month. There are 32 single-family homes ranging in price from $489,900 to $5,495,000. The average list price is $1,582,722 and the average days on the market is 133. The combined days on the market is 203. In the carriage, mid-rise, townhouse, and attached villa market, there are 43 active listings in Bonita Bay. Prices range from $159,900 to $639,000. The average list price is $389,293. The average of days on the market is 117. The combined days on the market is 186. In the high-rise market, there are 36 active listings in Bonita Bay ranging in price from $425,000 to $3,710,000. The average list price is $1,584,664 and the average days on the market is 166. The combined days on the market is 171.
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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 77 sales with an average sales price of $376,818; these condos were on the market an average of 69 days; combined days on the market is 138.
- During the 12 months previous, there were 74 sales with an average sales price of condominiums was $408,450; these homes were on the market for 51 days; combined days on the market is 112.
- During the last 12 months, there were 28 sales with an average sales price of $1,375,396; these homes were on the market an average of 138 days; combined days on the market is 217.
- During the 12 months previous, there were 29 sales with an average sales price of $1,353,517; these homes were on the market for an average of 154 days; combined days on the market is 261.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 82 sales with an average sales price of $1,120,086; these homes were on the market an average of 97 days; combined days on the market is 194
- During the 12 months previous, there were 64 sales with an average sales price of $1,094,464; these homes were on the market for an average of 88 days; combined days on the market is 167.
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JUNE MARKET UPDATE
“Our pending unit activity in April 2017 is directly related to sellers’ price reductions,” stated Jerry Murphy, Managing Broker, Downing-Frye. “As more sellers adjust pricing to the current market value, the more pending activity we’ll see going forward. Adjusted pricing also has contributed to the median home price trending downwards in April as well.” For April 2017, there were 445 price reductions out of 1,785 total active units. The number of overall closed sales, including single-family homes and condos, for 12 months ending April 2017 was 2,989 units as compared to 2,965 units for 12 months ending April 2016, a 1 percent increase. Pending sales for April 2017 were at a 7 percent increase with 3,098 units versus 2,902 units compared to April 2016. The days-on-market was 974 days, which was an increase of 39 percent. As of April 30, 2017, there were 1,690 units of inventory for single family homes and condominiums, and the average current months of inventory stands at 6.7 months.
FLORIDA: TIGHTER SUPPLY – HIGHER PRICES
Rising median prices and constrained inventory remained a prevailing trend in Florida’s housing market in April. The statewide median sales price for single-family existing homes in April was $234,900, up 10.3 percent from the previous year. “Closed sales of single-family homes were down in 14 of Florida’s 22 metro areas compared to last April, and fell by 1.2 percent statewide – but there is no indication that demand is falling off,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “Rather, all signs continue to point to a market being held back by a shortage of homes for sale. As of the end of April, the statewide inventory of single-family homes for sale was down by nearly 5 percent compared to where it was a year ago. April’s inventory remained constricted with a 4-months’ supply for single-family homes and a 6.1-months’ supply for townhouse-condo properties, according to Florida Realtors.
USA: PENDING SALES DOWN
Pending home sales in April slumped for the second consecutive month. They were down year-over-year nationally and in all four major regions. Contract activity is fading this spring because significantly weak supply levels are spurring deteriorating affordability conditions, says Lawrence Yun, NAR chief economist. “Much of the country for the second straight month saw a pullback in pending sales as the rate of new listings continues to lag the quicker pace of homes coming off the market,” says Yun. Unfortunately, Yun believes there’s little evidence that today’s astoundingly low supply levels are going away soon. Home-building activity has not picked up enough this year, and too few homeowners are listing their home for sale. Yun forecasts existing-home sales to be around 5.64 million this year, an increase of 3.5 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 5 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
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Ronto’s Seaglass Tower More Than 60% Sold
With vertical construction of 26-floor, 120-unit Seaglass luxury high-rise tower within Bonita Bay progressing at a rapid pace and on schedule for completion in just 13 months, The Ronto Group announced that sales contracts worth over $125 million have been processed. The building is now more than 60% sold. Seaglass is situated just 600 feet from Estero Bay, making it one of the closest to the water’s edge of the high-rises currently under construction on Southwest Florida’s Gulf coast. All new open-concept floor plans with tall ceilings take full advantage of spectacular mangrove, water, and sunset views. Seaglass offers brand new, fully-completed, and ready-for-occupancy residences with designer-selected premium finishes, including flooring, paint, and trim. The space sequences and components found in the kitchens and master baths of the residences will reflect the contemporary flair found in the architectural style of the building. Each residence will come with two protected access under-building parking spaces. Private enclosed two-car garages will be available.
All of the Seaglass penthouse residences have been sold. A choice selection of tower residences ranging from 2,889 to 3,421 square feet under air and priced from just over $1.1 million remains available. The spacious tower residences will include dual private elevator grand foyers, large island kitchens, three bedrooms and three-and-a-half baths, or three bedrooms plus a den or fourth bedroom and three-and-a-half baths, walk-in closets in the owner’s suite, and sliders opening to multiple outdoor spaces that include a gas grill. Ten-foot ceiling heights are included per plan. One residence remains available on both the 8th and 10th floors, and two are available on the 9th, 11th, and 15th floors. Units in the 01 stack on the 3rd and 4th floors are priced from $1,510,000 to $1,535,000. Residences in the 06 stack on floors 3 through 7 and on the 15th floor are offered from $1,510,000 to $2,185,000.
The outdoor spaces in the Seaglass tower residences merge the indoor and outdoor living experience while providing spectacular sunset views. The 301-306 tower residences enhance the indoor/outdoor experience even further. While the tower residences on floors four through nineteen include three terraces with a total of 525 square feet, the 301-306 residences offer extended terraces that are wrapped by planters and include curved walls, pavered decking material, a trellis that will provide a shaded seating area, and a gas grill. Units one and six on level three will offer a total of 1,460 square feet of terrace space; units two and five a total of 1,705 square feet; and units three and four a total of 1,610 square feet. Pricing for the 301-306 residences starts at $1,180,000. A 306 model with an interior designed by Renee Gaddis, NCIDQ, ASID, GREEN AP, President and Principal Designer at Renee Gaddis Interiors, is priced at $1,825,000 with furnishings.
Source: Seaglass at Bonita Bay
A Word from Downing-Frye Broker & General Manager, Mike Hughes
The 2017 real estate sales trend line tells a story. Here is what I have seen so far. Most local industry experts will tell you that January and February sales were good but not great. March was a different story. March was spectacular. April was good but not great. May is shaping up to be another spectacular month for sales.
Let’s take a look at the Downing-Frye pending sales and closed sales for the first seventeen days of May 2017 and compare these numbers with the first seventeen days of May 2016: Our closed sales volume in May 2017 is up 39% compared with the same period last year. Our pending sales are coming in very strong. Downing-Frye’s pending sales volume for the first seventeen days of May 2017 is up 88% over the May 2016 pending sales volume for the same period. Our pending sales transactional sides are up 32% in May 2017 compared with the same period the previous year.
It is encouraging to have a strong May for sales because this might be an indication of the kind of summer that we could experience.
Our inventory continues to hold steady with just over 1,400 listings.
Bonita Bay JUNE Events Calendar
Thursday, June 8 | 6:00 p.m. — Casual Dinner Buffet | 7:00-9:00 p.m. — Trivia in Ballroom
$28.00 per person; includes prizes | Teams of 8-10 people
Bonita Bay Passport Program
- Passport Program is available all year
- Member must authorize
- Seven day pass renewable one time for a total of 14 days per year
- For family only: parent, child, son or daughter-in-law or grandchild of a member
- Golf Passport: Includes all sports (golf, tennis, fitness and dining)
- Tennis Passport: Includes all sports except golf (tennis, fitness and dining)
- House Passport: Includes fitness, swimming pool and dining
- Dining Passport: dining only
- Golf passport does not include cart fees. All purchases will be charged to member’s account only.
- All passports must be purchased from the Concierge.
- All guest policies apply:
- Golf (Accompanied with Member): Effective November 1 through April 30, may play before 8:00 a.m. or after 11:00 a.m. on the West courses, may play anytime on the Naples courses.
- Golf (Unaccompanied): Effective November 1 through April 30, may play after 2:00 p.m. on the West courses, may play after 1:00 p.m. on the Naples courses.
- Sports: From January 1 through April 15 may play after 12:30 p.m. and at other times on a space available basis, as determined by the Director of Tennis.
- House: From January 1 through April 30, may use the Fitness Center only after 12:00 p.m. Beginning May 1, guests may use the Fitness Center unaccompanied at any time during normal hours of operation with authorization from the sponsoring member. All guest fees will be billed to the sponsoring member.
- Social: No restrictions
Downing-Frye Realty Recognized as One of Top Brokerage Firms in U.S.
In 2016, Downing-Frye participated, for the first time in the Real Trends 500 survey. For closed transactional sides, there were 32 Florida real estate brokerages that made the top 500. Downing-Frye was #18 in Florida for closed transactional sides. We were # 288 in the country for closed transactional sides.
For closed sales volume, there were 36 Florida real estate brokerages that made the top 500. Downing-Frye was #9 in Florida for closed sales volume. We were # 143 in the country for closed sales volume.
All in all, in a challenging 2016, Downing-Frye Realty, Inc. was listed among the top brokerage firms in the country.
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.