02 May Bonita Bay Real Estate News | May 2018
As of May 1, 2018, there are 113 active listings in MLS in Bonita Bay; 10 less than last month. There are 39 single-family homes ranging in price from $459,000 to $7,500,000. The average list price is $1,559,392 and the average days on the market is 137. The combined days on the market is 166. In the carriage, mid-rise, townhouse, and attached villa market, there are 36 active listings in Bonita Bay. Prices range from $259,000 to $649,000. The average list price is $386,778. The average of days on the market is 125. The combined days on the market is 232. In the high-rise market, there are 38 active listings in Bonita Bay ranging in price from $649,000 to $2,650,000. The average list price is $1,648,784 and the average days on the market is 215. The combined days on the market is 236.
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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 84 sales with an average sales price of $376,248; these condos were on the market an average of 100 days; combined days on the market is 176.
- During the 12 months previous, there were 76 sales with an average sales price of condominiums was $388,036; these homes were on the market for 70 days; combined days on the market is 140.
- During the last 12 months, there were 32 sales with an average sales price of $1,274,461; these homes were on the market an average of 136 days; combined days on the market is 232.
- During the 12 months previous, there were 27 sales with an average sales price of $1,389,856; these homes were on the market for an average of 141 days; combined days on the market is 222.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 66 sales with an average sales price of $1,235,148; these homes were on the market an average of 105 days; combined days on the market is 216.
- During the 12 months previous, there were 82 sales with an average sales price of $1,059,751; these homes were on the market for an average of 95 days; combined days on the market is 189.
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Florida Consumer Attitudes Change Course, Move Higher
GAINESVILLE, Fla. – May 1, 2018 – After two months of decline, consumer sentiment among Floridians increased six-tenths of a point in April to 98.1 from a revised figure of 97.5 in March. Among the five components that make up the index, three increased and two decreased. “Overall, Floridians are slightly more optimistic,” says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research. “The gain in April’s confidence came from the perceptions and expectations regarding Floridians’ personal financial situation. These numbers increased for women as well as those aged 60 and older.”
Perceptions of personal financial situations now compared with a year ago rose 5.5 points from 91 to 96.5, the greatest increase of any component this month. Similarly, perceptions as to whether this is a good time to buy major household items like appliances increased 3.1 points from 101.1 to 104.2. “Increases in these two components show that opinions regarding the current economic condition improved among Floridians in April,” Sandoval says.
Of the three components representing expectations about future economic conditions, one increased and two decreased. Expectations of personal financial situations a year from now went up 3.2 points from 105.9 to 109.1. In contrast, expectations of U.S. economic conditions over the next year plummeted 6 points from 96.4 to 90.4 – the greatest decline in this month’s reading. Additionally, expectations of U.S. economic conditions over the next five years decreased 2.9 points from 93.3 to 90.4. “Despite the large decline in short- and long-run confidence in the national economy, opinions are split among the population by age. Those under age 60 have strong negative expectations, while those aged 60 and older hold positive opinions,” Sandoval says.
Florida economic overview
Economic indicators in Florida continue to be positive. The labor market in Florida continues to strengthen with more jobs added on a monthly basis. Since January 2017, labor force participation reached 10 million, and with the exception of December 2017, participation has increased every month. Regardless of increased participation, the unemployment rate has remained unchanged at 3.9 percent for the past seven months.
In March, 173,100 jobs were added statewide, a 2 percent increase compared with a year ago. Among all industries, professional and business services gained the most jobs, followed by leisure and hospitality, construction, and education and health services.
Additionally, personal income in Florida increased 3.8 percent on average in 2017, compared with 3.1 percent for the nation, according to estimates by the Bureau of Economic Analysis. Net earnings – the sum of wages and salaries, supplements to wages and salaries, and proprietors’ income – contributed most to this increase in personal income. Construction was the largest contributor to the earnings increase in Florida, growing 8.7 percent compared with 5.2 percent for the nation. “Overall, consumer confidence is increasing, but expectations of future economic conditions may predict a significant change in this trend,” Sandoval says.
Conducted Apr. 1-26, the UF study reflects the responses of 361 individuals who were reached on cellphones, representing a demographic cross-section of Florida. The index used by UF researchers is benchmarked to 1966.
Source: 2018 Florida Realtors®
MAY 2018 MARKET UPDATESUMMER SEASON – BUSY SEASON
BONITA /ESTERO: INCREASED BUYER ACTIVITY
Area brokers are advising buyers to dismiss seasonality trends of years past and focus on the current market, which has been moving towards a ‘seasonless’ market for the past several quarters. “The market has home styles and communities for every type of buyer,” said Jerry Murphy, Broker, Downing-Frye Realty, Bonita Springs. “We have new families moving into the area as well as those looking to retire or become part-time residents, making Bonita Springs and Estero top choices for buyers.” Pending sales in the Bonita Springs and Estero markets increased by 6 percent comparing March 2018 to March 2017. During that same time period, active inventory decreased by only 2 percent to 1,816 properties and the median closed sales price was $300,000, a decrease of 6 percent compared to the previous year. The Days on Market was 103 days at the end of March 2018.
FLORIDA: MEDIAN PRICES CONTINUE TO RISE
The statewide median sales price for single-family existing homes in March was $250,800, up 8.2 percent from the previous year, while the statewide median price for townhouse-condos was $183,000, up 7 percent. Sales of single-family homes statewide totaled 25,020 last month, down 3.5 percent compared to March 2017, while statewide closed sales in Florida’s townhouse-condo market totaled 10,997 in March, down 1.8 percent compared to a year ago. March’s for-sale inventory tightened even more with a 3.8-months’ supply for single-family homes and a 5.9-months’ supply for townhouse-condo properties. According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.44 percent in March 2018, up from the 4.20 percent averaged during the same month a year earlier.
USA: SUPPLY & AFFORDABILITY AT ODDS
Housing affordability is down from a year ago and fewer households can afford the active inventory of homes currently for sale on the market based on their income. “Wages are growing, which is welcome news for prospective buyers, but prices are increasing at a faster rate, up almost 6 percent in the first two months of 2018. Solutions to improve these conditions include more homeowners selling, investors releasing their portfolio of single-family homes back onto the market and more single-family housing construction,” said Lawrence Yun, NAR chief economist. The states with the lowest Affordability Score were Hawaii, California, Oregon, D.C, Montana and Rhode Island. The states with the highest Affordability Score were Ohio, Indiana, Kansas, Iowa, and West Virginia.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
Bonita Bay Dining Schedule
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.
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)
Daily: 11:00 a.m. – 4:00 p.m.
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
Golf Experience Attracting Seaglass Homebuyers
With the award-winning Ronto Group’s 26-floor, 120-unit Seaglass high-rise tower within Bonita Bay on schedule for completion this summer, future residents are looking forward to enjoying the community’s golf experience. The combination of the tower’s alluring floor plan choices, various Bonita Bay Club membership opportunities, and Bonita Bay’s award-winning lifestyle that includes five championship golf courses, Seaglass is redefining the high-rise living experience.
The Bonita Bay Club’s golf operation is legendary. A two-story, 15,000 square-foot facility houses the golf pro shop, tournament offices, and merchandise offices, as well as underground storage for 260 carts and 2,600 golf bags. Director of Golf E.J. McDonnell, PGA oversees a staff that includes 25 PGA Professionals. Ten of the PGA Professionals and seven Fitness Professionals are Titleist Performance Institute Certified, creating one of the largest programs in the country. An instructional program includes private and group lessons, golf schools, and clinics on three dedicated practice areas. Members have access to the latest equipment and benefit from professional club-fitting services. One of the largest private club-repair facilities in the country further contributes to the “Tour Experience” enjoyed by the members.
The three on-property Bonita Bay West courses were designed by Arthur Hills to preserve and enhance the natural features of the land. The courses achieved Certified Audubon Cooperative Sanctuary status in 1995. A healthy 6,910 yards from the back tees, the Bay Island course is considered the most challenging of the Club’s courses. Water hazards, sand traps, and thick stands of oak and cypress await errant shots on a course that plays to all four points of the compass. Golfers must be both long and accurate off the tee to score well. Elevated greens present a significant challenge to approach shots, and recovering from missed shots demands an accurate short game.
The Creekside course is a favorite of the Bonita Bay Club’s members. A challenging 6,632 yards from the back tees, Creekside features broad fairways and limited carries while changes in the land elevations create a subtle feeling of rolling hills. Bunkering and moguls add to the challenge. Grass-face bunkers protect the greens that are undulating and fast. Extra room off many of the tees provides an opportunity to aggressively attack a number of the holes.
The 6,483-yard Marsh golf course winds its way through wetland areas with beautiful oaks and palmettos. The wetlands and natural vegetation provide both landscaping and water hazards. While challenging, the setting provides golfers with a sense of peace during their round. Many of the holes are more about target golf than the layouts at Bonita Bay’s other four courses and require golfers to use every club in their bag.
Two Tom Fazio designed courses at Bonita Bay East provide a pure golf experience on over 1,000 acres that includes preserved wetlands but no residential development. It was the first private 36-hole club in the world to achieve certification through the Audubon International’s Signature Program and has been designated as a Certified Signature Sanctuary since 1998. A 8,200 square feet clubhouse is nestled among slash pines and Sabal palms and features a golf shop, main dining room, mixed grill room, bar, and locker areas.
The Bonita Bay East Cypress course is considered one of the best tournament sites in Southwest Florida. The front nine is forgiving off the tee, but the greens are protected by large deep bunkers. Once on the inward nine, the holes are separated by stands of cypress trees and wetlands. A challenging 7,059 yards from the back tee, the course features large undulating greens that are some of the fastest in the area.
The 6,813-yard Sabal course is yet another Bonita Bay course that brings golfers and nature together. With five par fives and five par threes, the course presents an excellent variety of challenges. Alligators, wild turkeys, deer, and bald eagles are often seen near the massive lake that comes into play on holes 9 through 12. The green complexes are large and feature high green speeds, but allow room for approach shots.
Seaglass offers fully-completed, ready-for-occupancy residences with designer-selected premium finishes. Each residence will come with two protected access under-building parking spaces. Private enclosed two-car garages will be available. Seaglass will showcase the open living environments that luxury homebuyers prefer. The elegant residences will be accessed by private elevator foyers and feature spacious great rooms, centrally located kitchens, and two or three outdoor terraces per residence, one of which will include a gas grill. The terraces and extensive use of glass throughout the residences will provide stunning views of Estero Bay and the Gulf of Mexico.
A choice selection of tower residences remains available at Seaglass. Three luxurious great room floor plans ranging from 3,353 to 3,946 total square feet are priced from the low $1 million’s. 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. Three furnished tower residence models are open for viewing with a sales associate by appointment only.
Source: Seaglass at Bonita Bay
Contact me to schedule your private visit to The Seaglass: 239.770.0561.
A Word from Downing-Frye Broker & General Manager Mike Hughes: 54% Increase in Closed Sales Volume
How about some great news? In April 2017, we had a closed sales volume as a company of $137 million. In April 2018, Downing-Frye had a closed sales volume of $211 million. That is a 54% increase in closed sales volume for the month of April. Wow!
Bonita Bay MAY Events Calendar
May 28 | Memorial Day Tournament | Course TBD | 8:30 a.m. Shotgun | $65
DINING & SOCIAL
May 13 | Mother’s Day Brunch | 10:30 a.m.-2:30 p.m. | Clubroom | $40.00 | Upscale Club Attire
May 17 | Trivia Night | 6:00 p.m.
May 28 | Memorial Day Event
Common Expenses for New Homebuyers.
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.