01 Mar Shadow Wood at the Brooks Real Estate News | March 2025
As of March 1, 2025, there are 41 active listings in our area multiple listing service (MLS) in Shadow Wood. That is 14 more than last month.
For comparison, last year on March 1, there were 31 listings in Shadow Wood.
There are 24 single-family homes on the market, listed from $795,000 to $3,800,000. The average list price is $1,923,454. The average days on the market is 55 days; the average total days on the market is 61 days.
In the condo market, there are 17 active listings ranging from $450,000 to $949,000. The average list price is $644,688. The average days on the market is 38 days; the average total days on the market is 76 days.
A reminder, you have access to the most comprehensive website devoted to Shadow Wood, www.ShadowWoodRealty.com. I’ve included maps, floor plans, photos, and descriptions of each neighborhood within this desirable community.
Please contact me for all your real estate needs in Shadow Wood. With over 38 years of helping buyers and sellers in SWFL, my experience will be invaluable in this fast-moving, low-inventory market.
Your Shadow Wood REALTOR®,
Ed Gongola
Summary of Shadow Wood Home Sales
If you are considering selling your Shadow Wood home, here are some statistics that may help you decide to place your home on the market.
SHADOW WOOD CONDOs
-
- Within the last 12 months, there were 27 sales; the average sales price was $663,459; and, these condos were on the market an average of 47 days; combined days on the market is 112.
-
- During the 12 months previous, there were 19 sales; the average sales price was $677,500; and, these homes were on the market an average of 31 days; combined days on the market is 79.
SINGLE-FAMILY SHADOW WOOD HOMES
-
- During the last 12 months, there were 46 sales; the average sales price was $1,555,278; and, these homes were on the market an average of 55 days; combined days on the market is 116.
-
- During the 12 months previous, there were 43 sales; the average sales price was $1,738,081 and, these homes were on the market an average of 41 days; combined days on the market is 96.
For a list of SHADOW WOOD homes sold in the last 12 months, click here.
For a list SHADOW WOOD homes that are pending at the moment, click here.
|
March 2025 Market Update
DOWNING-FRYE: YOUR SHARE OF PARADISE AWAITS
“What is the local real estate market telling us? From a seller’s perspective, it’s important to note the current amount of inventory,” said Mike Hughes, V. P. and Gen. Mgr. of Downing-Frye Realty, Inc. “At the end of February 2025, Downing-Frye had over 1,000 listings. It’s been several years since our inventory was that high. Sellers need to be aware that properties are staying on the market longer and that they need priced correctly. Three years ago, there were 1,122 properties for sale in the Naples area with an average of 24 days on the market. Today there are 5,706 properties for sale with a 90-day average for selling. Buyers like viewing the increased inventory, but the increase can influence their sense of urgency. If a buyer finds a property that they like, there is a good chance that someone else will like it as well. If you find a property that you like, why not put in a winning offer and get your share of paradise?”
BONITA / ESTERO: JANUARY ACTIVITY
The Bonita Springs/Estero Realtors® reported January 2025 figures as compared to January 2024: For single-family homes: new listings were up 31.1% and pending sales were up by 9.1%. The median sales price of $692,000 was down 7.7% and the average sales price of $1,160,889 was up 20.9%. Inventory was up 70.5% to 619 single-family homes for a 5.4-months’ supply. For condominiums: new listings were up 46.7% and pending sales were up by 3.5%. The median sales price was down 7% to $474,000 and the average sales price was $714,803, down 30.3%. Inventory was up 92.7% to 638 condos for a 6.1-months’ supply. On average, sellers received 96.1% of list price for single-family homes and 95.9% for condominiums.
NAPLES AREA: OPPORTUNITIES ABOUND
The numbers don’t lie, and that is good news for buyers and sellers navigating the Naples real estate market. Overall closed sales in Naples increased 12% in January to 551 closed sales from 492 closed sales in January 2024. The median closed price in January increased 9.4% to $659,000 from $602,000 in January 2024. January’s inventory increased 39.5% to 6,808 properties compared to 4,881 properties in January 2024. The total inventory of single-family homes is 3,224 (30.5% increase from January 2024) and for condos is 3,584 (48.7% increase from January 2024). The average days on market was 92, more than a 50% increase. Despite the median closed price increasing, there were 2,668 price decreases in January. The increase in inventory may compel buyers to take more time to make a purchase decision due to having more options. It also puts pressure on sellers to be flexible with their price and terms because they are now competing with other sellers in a “buyer’s market” where buyers have more bargaining power.
MARCO ISLAND AREA: INVENTORY AND SALES UP
The Marco Island Area Assoc. of Realtors® reported January 2025 figures as compared to January 2024: Inventory was up 13%; the number of properties sold increased by 7%; the average days on market was down 23%; and the dollar volume sold was $86M, down 20% from the year before. In January, the median sales price for homes was $2M, for condos was $758K and for lots was $939K.
FLORIDA: INVENTORY UP
Closed sales of single-family homes statewide in January totaled 15,384, up 3.6% from the January 2024 level, while existing condo-townhouse sales totaled 5,787, down 3.7% year-over-year. In January, the statewide median sales price for single-family existing homes was $410,000, up 1.2% from the previous year; for condo/townhouse units, it was $312,500, down 2.3% compared to January 2024. Statewide inventory in January was higher than a year ago for both existing single-family homes, increasing by 31.3%, and for condo-townhouse units, up 39.3%. The supply of single-family existing homes was at a 5.1-months’ supply while existing condo-townhouse properties were at a 9.1-months’ supply last month.
USA: PENDING HOME-SALES WANE
Pending home sales in January dropped 4.6%. “It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months,” said NAR Chief Economist Lawrence Yun. “However, it’s evident that elevated home prices and higher mortgage rates strained affordability.” Housing affordability suffered in January as mortgage rates ranged from 6.91% to 7.04%. Compared to one year ago, the monthly mortgage payment on a $300,000 home increased by an extra $50 to $1,590.
Sources: The Bonita Springs-Estero REALTORS®/SWFLMLS, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS® and Marco Island Area Assoc. of REALTORS®
|
And while annual appreciation has quieted down compared to 2021 and 2022, the median closed price in January increased 9.4 percent to $659,000 from $602,000 in January 2024. (The median closed price is the point where 50 percent of all homes sold were below the figure and 50 percent sold were above the figure.) “The 22.6 percent increase in new listings during January is a signal that sellers are confident in how well our market is performing,” said Jillian Young, President, Premiere Plus Realty. “For buyers, this means more choices than they ever had during any month in the last five years.” Delayed Gratification “Last January, it took an average of 61 days to sell a home,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “And now, according to the report, we are up to 92 days on the market. This is still lower than where we were in January 2020 [107 DOM], before the pandemic.” Overall pending sales decreased 8 percent in January to 933 pending sales compared to 1,010 pending sales in January 2024. Incidentally, there were 892 pending sales in January 2020, when home values were half of what they are today. “Home sales by out-of-state buyers are lagging a little because sales are still soft in many northern states,” said Hughes. “Despite this, the January report indicates a very healthy first month of the year for real estate.” According to Wes Kunkle, President and Managing Broker at Kunkle International Realty, “Many sellers also delayed putting their homes on the market earlier this year because they were unwilling to give up a 3 percent mortgage rate. But I think more people are beginning to accept that 6 to 7 percent interest rates are the norm now.” Young responded by stating, “There was a dip in interest rates finally during September, and I think many people who were on the fence were expecting another decrease last year. When the new administration took office this January, some buyers realized that dip wasn’t coming as promised. That’s about when we saw a big increase in new listings during January.” Setting the Stage January’s inventory increased 39.5 percent to 6,808 properties compared to 4,881 properties in January 2024. Despite the median closed price increasing, the January report also showed 2,668 price decreases in January. Lower home prices can be an opportunity for buyers, but sellers may face more competition. The increase in inventory may compel buyers to take more time to make a purchase decision due to having more options. It also puts pressure on sellers to be flexible with their price and terms because they are now competing with other sellers in a “buyer’s market” where buyers have more bargaining power. “For homeowners who enjoyed significant gains in equity over the last five years and want to sell, this market can be tricky,” said Young. “Working with a REALTOR® who can help you price your property correctly is very important because, even though values continue to rise, the added competition from new listings and price decreases means you must be willing to consider negotiating with buyers.” “If you haven’t had many showings, it probably means your home is priced too high,” said Adam Vellano, Managing Director of South and Southwest Florida at Compass Florida. “Just because it’s paradise doesn’t mean your home will sell for what you might have sold it for three years ago. The window for pandemic pricing has closed.” “Plus, buyers today have more ownership costs to consider, especially when it comes to expenses like insurance and taxes,” said Young. “Our market faced six strong headwinds last year,” said Hughes. “Insurance, interest rates, the election, inflation, anti-trust suits, hurricanes, and educating the public on new buyer-broker agreements.” The NABOR® January 2025 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2025:
Market Report Standouts According to the January Market Report, closed sales of condominiums increased 2.9 percent compared to the single family home market, which had a 20.9 percent increase in closed sales. Further, the median closed price for condominiums decreased in January 2.7 percent to $466,000 from $479,000 in January 2024. But there was an increase in inventory for condominiums in January – 48.7 percent – to 3,584 condominiums from 2,411 condominiums in January 2024. The January report also showed 553 properties in inventory in the $300,000 and below market, which is an 84.3 percent increase compared to 300 properties in January 2024. Interestingly, inventory in the $5 million and above market increased 19.7 percent in January to 499 properties from 417 properties in January 2024. The North Naples area (34109, 34110, 34119) commanded the highest sales activity – a 5 percent increase – of all areas tracked by NABOR® during January. Median closed prices for single family homes in this area increased 13.4 percent to $730,000 from $644,000, while median closed prices for condominiums decreased 8.4 percent to $466,000 from $508,500 in January 2024. The median closed price of condominiums located in Central Naples (34104, 34105, 34116) experienced the deepest decrease in January, 13.5 percent, to $311,250 from $360,000 in January 2024. Note: Broker analysts for NABOR® have chosen to spotlight median closed prices rather than average sales prices during discussions because one large sale (e.g., $20 million) during the month can skew the average sales price data, which will not produce a true reflection of what the average price is in the Naples market. |
If you are looking to buy or sell a home in Naples, contact a Naples REALTOR® who has the experience and knowledge to provide an accurate market comparison or negotiate a sale. A REALTOR® can ensure your next purchase or sale in the Naples area is a success. Search for your dream home and find a Naples REALTOR® on Naplesarea.com.
The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 6,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.
The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
