Bonita Bay Real Estate News | March 2018

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 75 sales with an average sales price of$382,224; these condos were on the market an average of 83 days; combined days on the market is 153.
  
• During the 12 months previous, there were 78 sales with an  average sales price of condominiums was $389,422; these homes were on the market for 69 days; combined days on the market is 139.

• During the last 12 months, there were 71 sales with an average sales price of $1,119,791; these homes were on the market an average of 96 days; combineddays on the market is 194.
• During the 12 months previous, there were 73 sales with an average sales price of $1,070,270; these homes were on the market for an average of 102 days;combined days on the market is 201.

“The hottest segment of our market right now is the $250-500,000 price range,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Our pending sales since the beginning of the year are 21 percent higher than last year – and 42 percent of that activity has been in this price range. Only three years ago, 70 percent of buyers were paying with all cash, and today that number is down to half, indicating that there are more end users these days rather than investors. That speaks well about the continued desirability of living here.”

FLORIDA: ONGOING SHORTAGE OF HOUSING
Sales of single-family homes statewide totaled 16,564 in January, down 1.3 percent compared to January 2017; and for the condo-townhouse market, statewide closed sales totaled 7,634, up 5.9 percent. The statewide median sales price for single-family existing homes was $240,000, up 9.1 percent from the previous year, and for condo-townhouse properties was $179,900, up 11.7 percent. “Florida Realtors’ data shows sales of existing single-family homes in Florida were off to a slow start in the first month of 2018,” said FAR’s Chief Economist Dr. Brad O’Connor. “Lately, condo and townhouse sales growth has been outpacing that of single-family homes, and the reason is that the picture for condos and townhouses has been much more balanced. The single-family home market, by contrast, continues to be held back by inadequate levels of new construction.”

USA: PENDING SALES COOL IN JANUARY
Pending home sales cooled considerably in January to their lowest level in over three years. The number of available listings at the end of January was at an all-time low for the month and a startling 9.5 percent below a year ago. “The lower end of the market continues to feel the brunt of these supply and affordability impediments. Lawrence Yun, NAR chief economist said, “With the cost of buying a home getting more expensive and not enough inventory, some prospective buyers are either waiting until listings increase come spring or now having to delay their search entirely to save up for a larger down payment.” For 2018, Yun forecasts existing-home sales to be around 5.50 million – roughly unchanged from 2017. The national median existing-home price this year is expected to increase around 2.7 percent. In 2017, existing sales increased 1.1 percent and prices rose 5.8 percent.

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 10:00-11:00 p.m.

55th HOLE
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Friday: 11:00 a.m. – 11:00 p.m.
(Food service until 9:00 p.m. nightly)
Live Entertainment on Wednesday Nights

MEN’S GRILL
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WAVE CAFE
Monday through Friday 8:00 a.m. – 2:00 p.m.
(Food service beginning at 10:30 a.m. Daily)

BONITA BAY CLUB NAPLES
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