01 May Bonita Bay Real Estate News | May 2017
As of May 1, 2017, there are 122 active listings in MLS in Bonita Bay, 4 more than last month. There are 36 single-family homes ranging in price from $489,900 to $5,495,000. The average list price is $1,540,128 and the average days on the market is 127. The combined days on the market is 196. In the carriage, mid-rise, townhouse, and attached villa market, there are 50 active listings in Bonita Bay. Prices range from $159,900 to $639,000. The average list price is $386,048. The average of days on the market is 104. The combined days on the market is 158. 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 $1,557,122 and the average days on the market is 141. The combined days on the market is 146.
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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 73 sales with an average sales price of $386,133; these condos were on the market an average of 71 days; combined days on the market is 142.
- During the 12 months previous, there were 71 sales with an average sales price of condominiums was $400,807; these homes were on the market for 49 days; combined days on the market is 112.
- Within the last 12 months, there were27 sales with an average sales price of $1,389,856; these condos were on the market an average of 141 days; combined days on the market is 222.
- During the 12 months previous, there were 35 sales with an average sales price of $1,329,000; these condos were on the market an average of 138 days; combined days on the market is 234.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 82 sales with an average sales price of $1,059,751; these homes were on the market an average of 95 days; combined days on the market is 189.
- During the 12 months previous, there were 72 sales with an average sales price of $1,111,431; these homes were on the market for an average of 79 days; combined days on the market is 157.
Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.
MAY MARKET UPDATE
“March was a strong month,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty, “and it looks like April will be the same. Buyers seem to look around, and then make their decisions right before heading back north. Years ago, we used to see this pattern when inventory was very tight. Now, with our higher inventory of available properties, the sense of urgency is somewhat scaled back – but buyers know that if they see something they like, they need to move on it because it most likely won’t be one of the available choices the next time they’re in southwest Florida. Our market is active and dynamic, and buyers are aware of that.”
March 2017 showed price drops for over half of active listings for homes in the Bonita Springs and Estero markets. The current average days on market sits at 94 days versus 74 days this time in March 2016 – an increase of 27 percent. “For this price segment, the March 2017 absorption rate shows several months to sell what we have,” stated Jerry Murphy, Managing Broker, Downing-Frye. “This is largely due to lots of overpriced inventory sitting on the market with significant competition from new construction homes as well. Fair market pricing is a top priority for buyers who have many options.” Overall, the Bonita Springs and Estero markets are stable, fair markets, however the $5-600K price segment shows a current absorption rate of 13.1 months, which indicates that too many homes are still overpriced. Overall pending sales are up 6 percent comparing March 2017 to March 2016, while close sales and the median price are almost the same. The significant changes over that period were a 19 percent increase in inventory and a 27 percent increase in the number of days on the market. There stands an average of 7.5 months of inventory.
FLORIDA: TIGHTER SUPPLY – HIGHER PRICES
Florida’s housing market reported more closed sales, higher median prices and increased pending sales in March. The statewide median sales price for single-family existing homes in March was $231,900, up 10.4 percent from the previous year. In a continuing trend, inventory remained at a tight 4.1-months’ supply in March for single-family homes, and was at a 6.3-months’ supply for townhouse-condo properties.
USA: SALES JUMPED 4.4% IN MARCH
Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago. The median existing-home price for all housing types in March was $236,400, up 6.8 percent from March 2016 ($221,400). March’s price increase marks the 61st consecutive month of year-over-year gains. At the end of March, unsold inventory was at a 3.8-month supply.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
EMPLOYEE SPOTLIGHT: Bonita Bay Director of Design Review Jerry McPherson
“Originally, I had my own landscape business and I was speaking with a guy who owned a local nursery who told me that his wife was employed at Bonita Bay, but she was leaving to help him run his company, so he referred me to Bonita Bay. I applied, and got the job – and here we are, 27 years later. Confucius says, “Man who shoot at nothing, sure to hit it.”
— Jerry McPherson —
Find out more about the employee spotlighted here as part of a series of the “Meet Your Manage” series of blog posts presented by the Bonita Bay Community Association. Here’s a link to their blog.
Source: Seaglass at Bonita Bay
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BONITA BAY MAY EVENTS CALENDAR
$28.00 per person; includes prizes | Teams of 8-10 people
MOTHER’S DAY BRUNCH
Sunday, May 14 | 10:30 a.m.-2:30 p.m. | Reservation Times | Clubroom | $39 per person | Upscale Club Attire
MEMORIAL DAY EVENT
Monday, May 29 | 11:00 a.m.-11:45 a.m. | Noon — Optional Lunch | Ballroom
Nine Hole Season Finale | Creekside | 10:00 a.m. Shotgun
Statistics on REALTORS® and Technology
- 27% of agents and 21% of brokers spent between $501 – $2,000 on technology in the last 12 months.
- The top three tools that respondents plan on purchasing or replacing in the next year are: iPad (16%); Smartphone (15%); and digital camera (12%).
- The most frequently used operating system is Windows 7 (38%).
- The most popular smartphones are iPhone (52%), Android OS (45%), Blackberry (3%).
- 91% of REALTORS® use social media to some extent.
- The top places where REALTORS® place their listings are realtor.com®, Zillow and Trulia.
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.