13 Nov Bonita Bay Real Estate News | November 2015
It is not just the cold winters driving northerners to look for Bonita Bay real estate, there are other factors that are kicking in now. In addition to the dwindling inventory of marketed Bonita Bay real estate covered here recently, Lee county is preparing for a 70-percent population increase expected by 2040; that’s an incredible expected growth spurt. Who do you suppose will lead the migration? Consider the number of Baby Boomers who are in the process of retiring. During the last four years, more than 10,000 Baby Boomers retire every day; this will continue for the next 15 years.
I provide some statistics on current market trends in my newsletters. If you need special statistics or reports that will help you make a decision to sell or buy in Bonita Bay, please feel free to contact me at your earliest convenience — I will instantly put 30 years of real estate experience to work for you!
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Whether you are buying or selling, if you are looking for REALTOR® representation, think of me.
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Snapshots Help Tell the Story
From just about any angle, it is a good time to sell or buy Bonita Bay real estate. If you would like a custom report that addresses your interests, please contact me via email or by phone at239.770.0561.
Decrease in the Number of Days on the Market
It is reasonable to expect your home or the home you would like to purchase will not be on the market very long.
Decrease in the Number of EXPIRED Listings
It is more likely than every that your home will sell in today’s marketplace.August 2015 Real Estate Market Update: No Such Thing as “Slow Season”
Increase in List Price by-Sq.-Ft. Ratio
Buyers are likely to pay more per-square-foot for Bonita Bay real estate.
Bonita Springs-Based Homebuilder WCI Communities Inc. Saw its Profits Soar in the Third Quarter
The luxury builder reported earnings of $10.2 million, or 38 cents a share, an increase of 229 percent from a year ago. Total revenues climbed to $150.2 million, an increase of more than 67 percent from $89.7 million in the same quarter a year ago.
Judith Bass, the Company’s President and Chief Executive Officer, commented, “We achieved significant year-over-year improvement across our key operating metrics with another quarter of strong financial results. I am extremely pleased with our continued success in executing our growth strategy and ability to gain scale in the business.” Mr. Bass added, “Throughout our coastal markets, demand for our award-winning homes and communities remains robust. In addition, we continue to see positive demographic and economic indicators in Florida, which we believe will sustain the long-term growth of our housing markets.”
In the third quarter, the company’s homebuilding revenues grew 93.1 percent. Revenues in real estate services rose 9.2 percent and revenues from amenities increased by 6.8 percent.
Other quarterly highlights include:
- Revenues from delivered homes increased 91.2 percent to $119.3 million
- Deliveries rose 76.7 percent to 258 homes
- New orders grew 61 percent to 277 homes
- Contract value for new orders was up 48.6 percent, at $124.8 million
WCI’s home prices continue to rise. The average selling price for the homes it delivered in the third quarter was $462,000, an increase of 8.2 percent from a year ago.
“We generated another impressive quarter with accelerating revenue, deliveries and new order growth,” Bass said.
New orders in the quarter included 12 condominiums in WCI’s new high-rise tower, Altaira, inside The Colony Golf & Bay Club community in Bonita Springs. The average selling price for those homes was more than $1.6 million.
WCI Communities is a lifestyle community developer and luxury homebuilder of single- and multi-family homes in most of coastal Florida’s highest growth and largest markets. With a legacy that spans more than 60 years, WCI Communities has an established expertise in developing amenity-rich, lifestyle-oriented master-planned communities, catering to move-up, second-home and active adult buyers. Headquartered in Bonita Springs, Florida, WCI Communities is a fully integrated homebuilder and developer with complementary real estate brokerage and title services businesses. As of the Sept. 30, the company owned or controlled 1,400 home sites throughout Florida.
Bonita Springs Estero Economic Development Council Makes $102-Million Impact Over Four Years
On Oct. 6, the Bonita Springs Estero Economic Development Council (BSEEDC) held its 2014-2015 Annual Meeting touting the economic development growth continuing to happen in the Bonita Springs and Estero region. The meeting was held at Global Tech LED’s manufacturing facility, where more than 75 attendees heard from Chris D’Elia, vice president of credit and collections for Camuto Group; Elizabeth Garcia, president of Discovery Day Academy; and Gary Mart, CEO of Global Tech LED, who later took the group on a behind-the-scenes tour of its LED lighting manufacturing facility.
According to Christine Ross, president & CEO of the Bonita Springs Chamber of Commerce, “Our star economic development projects this year are projected to bring 120 jobs to the Bonita Springs and Estero market. In addition, we continued to provide after-care services to long-term clients that have created and expanded with another 387 jobs. The total economic impact of our work since 2011 is $102 million.”
The BSEEDC is making progress on diversifying the economy on behalf of the region. These results represent real measurable traction, suggesting that the organization’s way of doing business is attractive to its clients. The organization continues to leverage relationships at both the county and state levels and actively participate in the Southwest Florida Economic Development Alliance marketing attraction activities.
BSEEDC goals for the 2015-2016 year include:
A continued focus on regional talent development to serve as a catalyst to close future skills gaps by helping align employer needs with regional education and training.
A heavy digital marketing emphasis to attract and serve an even larger regional business base.
To leverage our relationship with SWFLEDA to attend national site selector marketing programs.
Ross added, “All of our efforts, from streamlined permitting to making the region the easiest and best place to do business in the county, are truly paying off. Stay up-to-date on what the group is doing. To get involved, become an investor, and to subscribe to the monthly eNEWS, email the director at Director@BonitaEDC.com.”
DOWNING-FRYE REALTY is a Leader in Bonita Bay and SWFL Real Estate
Downing-Frye Realty, Inc. is the top-selling real estate brokerage in Southwest Florida.
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 112 sales with an average sales price of $624,899; these condos were on the market an average of 69 days
- During the 12 months previous, there were 156 sales with an average sales price of condominiums was $607,117; these homes were on the market much longer at 136 days
- During the last 12 months, there were 58 sales with an average sales price of $1,231,606;these homes were on the market an average of 67 days
- During the 12 months previous, there were 76 sales with an average sales price of$1,132,924; these homes were, again, much longer on the market for an average of 110 days
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