06 Oct Bonita Bay Real Estate News | October 2016
As of October 1, 2016, there are 76 active listings in MLS in Bonita Bay, 9 more than last month. There are 31 single-family homes ranging in price from $500,000 to $3,256,915. The average list price is $1,591,814 and the average days on the market is 128. The combined days on the market is 193. In the carriage, mid-rise, and attached villa market, there are 25 active listings in Bonita Bay. Prices range from $179,000 to $715,000. The average list price is $383,000. The average of days on the market is 108. The combined days on the market is 184. In the high-rise market, there are 19 active listings in Bonita Bay ranging in price from $695,000 to $2,698,000. The average list price is $1,547,158 and the average days on the market is 172. The combined days on the market is 181.
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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 114 sales with an average sales price of $697,511; these condos were on the market an average of 73 days; combined days on the market is 151.
- During the 12 months previous, there were 125 sales with an average sales price of condominiums was $623,987; these homes were on the market for 71 days; combined days on the market is 133.
- During the last 12 months, there were 69 sales with an average sales price of $1,077,307; these homes were on the market an average of 94 days; combined days on the market is 195.
- During the 12 months previous, there were 82 sales with an average sales price of $1,054,411; these homes were on the market for an average of 63 days; combined days on the market is 159.
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READY FOR SEASON
“August was a breath of fresh air,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Our Naples office closed transactions were up 4% over last August. We had 210 closings in the Naples office in August 2016 compared to 201 in August 2015. Our company inventory remains strong with just over 1,000 listings. The average pending sales price in August 2016 was $428,919.60. Last year, our average August pending sales price was $396,234.92. This represents about an 8% increase. We had 217 pending sales in August 2016. The big change in pending sales in August 2016 was in the market below $250,000. Last August, we had 121 pending sales in this price range. This August, we had 76 pending sales below $250,000.”
Florida’s housing market reported that August had more closed sales, higher median prices, more new listings and fewer all-cash closed sales. Closed sales of single-family homes statewide totaled 25,070, up 8.2 percent from August 2015. Sellers of existing single-family homes received 96.4 percent of their original listing price, while those selling townhouse-condo properties received 94.6 percent. The statewide median sales price for single-family existing homes was $225,000, up 12.6 percent from the previous year; and for townhouse-condo properties was $160,000, up 6.7 percent over the year ago figure. August’s inventory was at a 4.2-months’ supply for single-family homes and at 5.8-month for townhouse-condo properties.
BONITA /ESTERO: AUGUST 2016 VS. AUGUST 2015:
- Overall number of active listings: 875 vs. 602
- Overall closed sales: 130 vs. 142
- Single-family median sale price: $350,000 vs. $331,500
- Multi-family median sale price: $237,000 vs. $232,750
- August 2016 inventory: 5.9 months for single-family, 5.8 months for multi-family
- August 2016 percentage of list price for overall sales: approx. 95.25 percent
Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay. Total existing-home sales declined 0.9 percent to a seasonally adjusted annual rate of 5.33 million in August from a downwardly revised 5.38 million in July. After last month’s decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago (5.29 million). The median existing-home price for all housing types in August was $240,200, up 5.1 percent from August 2015 ($228,500) for the 54th consecutive month of year-over-year gains.
Total housing inventory at the end of August fell 3.3 percent to 2.04 million existing homes available for sale, and is now 10.1 percent lower than a year ago (2.27 million) and has declined year-over-year for 15 straight months. Unsold inventory is at a 4.6-month supply at the current sales pace, which is down from 4.7 months in July.
“It’s very concerning to see that inventory conditions not only show no signs of improving but have actually worsened in recent months from their already suppressed levels a year ago,” said Lawrence Yun, NAR chief economist. “While recent data from the U.S. Census Bureau shows that household incomes rose strongly last year, home prices are still outpacing incomes in many metro areas because of the persistent shortage of new and existing homes for sale. Without more supply, the U.S. home-ownership rate will remain near 50-year lows.”
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
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EMPLOYEE SPOTLIGHT: Rob White, Manager of Bonita Bay Community Patrol
“One of the things that I think has been a success story for Bonita Bay Community Patrol was the addition of extended pass readers at both the Main and North Gates. This has increased the amount of traffic that is able to use the automatic lanes and should result in much shorter wait times and lines for guests as they enter the property..” — Kelly Wood —
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The Ronto Group announced that a total of just 10 of the 01 and 06 end unit tower residences remain available at the 26-floor, 120-unit Seaglass high-rise tower being built by Ronto within the award-winning Bonita Bay community. The total
includes two south-facing 01 residences and eight north-facing 06 residences. The spacious, thoughtfully designed 01 and 06 tower residence floor plans offer 3,421 square feet under air and 525 square feet of outdoor covered terrace space. The open great room plan includes three bedrooms plus a den or fourth bedroom, three-and-a-half baths, a large island kitchen and dining area, and a private elevator lobby. The two remaining 01 residences are on floors three and four. The eight remaining 06 residences are on floors three through seven and 14 through 16.
Seaglass will feature fully-completed, ready for occupancy residences with premium finishes, including flooring, paint, and trim. Each residence will come with two protected access under-building parking spaces. Private enclosed two-car garages will be available. Three luxurious tower residence great room floor plans at Seaglass range from 2,889 to 3,421 square feet under air and are priced from just over $1 million.
Contact me for a private and personal visit to the Seaglass Design Studio located within the Seaglass Sales Center to review their amazing finish selections. With construction well underway, opportunities to specify preferred finishes will become progressively limited. Ronto’s Finishing Touches Program allows future residents to visit the Design Studio and select finishes for their new home’s flooring, cabinetry, countertops, door hardware, plumbing fixtures, and paint colors. To ensure each residence is finished to each owner’s specific tastes, you may also specify finishes from other sources. Construction of the highly anticipated Seaglass tower is on schedule for completion in summer, 2018.
Source: Seaglass at Bonita Bay
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.