02 Nov Bonita Bay Real Estate News | November 2016
As of November 1, 2016, there are 100 active listings in MLS in Bonita Bay, 24 more than last month. There are 41 single-family homes ranging in price from $500,000 to $4,475,000. The average list price is $1,503,823 and the average days on the market is 115. The combined days on the market is 169. In the carriage, mid-rise, and attached villa market, there are 38 active listings in Bonita Bay. Prices range from $179,000 to $619,900. The average list price is $368,005. The average of days on the market is 98. The combined days on the market is 155. In the high-rise market, there are 21 active listings in Bonita Bay ranging in price from $425,000 to $2,698,000. The average list price is $1,596,595 and the average days on the market is 155. The combined days on the market is 169.
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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 109 sales with an average sales price of $731,908; these condos were on the market an average of 74 days; combined days on the market is 149.
- During the 12 months previous, there were 121 sales with an average sales price of condominiums was $620,819; these homes were on the market for 65 days; combined days on the market is 129.
- During the last 12 months, there were 70 sales with an average sales price of $1,070,791; these homes were on the market an average of 98 days; combined days on the market is 194.
- During the 12 months previous, there were 79 sales with an average sales price of $1,079,987; these homes were on the market for an average of 60 days; combined days on the market is 160.
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“SEASON” MAY BE EARLY THIS YEAR
“Our current closed sales volume is $1,156,721,668.67 through September 30, 2016,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “I have seen a number of listings come in lately. This is the time of year when many people list their property for sale. Typically the total number of listings goes up in the month of October, which means that we’re building a strong inventory to accommodate the buyer demand that we expect this winter season. Last month our part-time residents already started returning en-masse, an indication that the busy season will begin even earlier this year.”
FLORIDA: MORE LISTINGS, HIGHER MEDIAN PRICES
Florida’s housing market reported more new listings, increased median prices and fewer all-cash closed sales in September. In September, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 58th month in a row.
“Even though the number of Florida single family home sales in September was essentially the same as last year, the composition of this year’s group was quite different -and in a good way,” said Florida Realtors® Chief Economist Brad O’Connor. “Distressed sales made up only 10 percent of single family home sales this September, compared to over 19 percent in September 2015. And only 28 percent of sales were all-cash deals this time around, compared to 34 percent last year.
“If our housing markets are going to return to some semblance of what many might term ‘normalcy,’ it’s vital that both of these trends continue.” Similar to previous months, inventory was at a 4.2-months’ supply in September for single-family homes and at a 5.8-months’ supply for townhouse-condo properties, according to Florida Realtors.
BONITA /ESTERO: SEPT. 2016 VS. SEPT. 2015:
- Overall number of active listings: 903 vs. 670
- Overall closed sales: 156 vs. 139
- Single-family median sale price: $320,000 vs. $367,500
- Multi-family median sale price: $219,000 vs. $240,000
- Sept. 2016 inventory: 6.2 months for single-family, 5.8 months for multi-family
- Sept. 2016 percentage of list price for overall sales: approx. 94.8 percent
Pending home sales shifted higher in September following August’s notable dip and are now at their fifth highest level over the past year. Increases in the South and West out gained declines in the Northeast and Midwest.
“Buyer demand is holding up impressively well this fall with Realtors® reporting much stronger foot traffic compared to a year ago,” Lawrence Yun, NAR chief economist said. “Although depressed inventory levels are keeping home prices elevated in most of the country, steady job gains and growing evidence that wages are finally starting to tick up are encouraging more households to consider buying a home.”
According to Yun, there are many positive indicators showing that the housing market’s overall health continues to improve as we near the end of 2016. In addition to sales matching their third highest pace (5.47 million) since February 2007 (5.79 million), distressed sales – foreclosures and short sales – fell to their lowest share since NAR began tracking them in October 2008 (4 percent). Furthermore, sales to first-time buyers reached 34 percent, which matched the highest share since July 2012 and was up convincingly from September 2015 (29 percent).
“The one major predicament in the housing market is without a doubt the painfully low levels of housing inventory in much of the country,” added Yun. “It’s leading to home prices outpacing wages, properties selling a lot quicker than a year ago and the home search for many prospective buyers being highly competitive and drawn out.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
EMPLOYEE SPOTLIGHT: Wilson Cypher, Assistant Director of Grounds Maintenance for the Community of Bonita Bay
“I was working for the Lee County Port Authority when a neighbor (who worked for Bonita Bay) asked me to apply for an available position. Initially, I refused, as I was happy at the Port Authority but he was persistent and I relented; I toured the property and previewed the open position. After that, I was hooked – and the next day I gave my two weeks notice to Lee County.” — Wilson Cypher —
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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.