09 Aug Shadow Wood at the Brooks Real Estate News | August 2016
As of August 1, 2016, there are 39 active listings in Shadow Wood; 5 less than last month. There are 26 single-family, listed homes ranging from $495,000 to $2,250,000. The average list price is $1,079,773 and the average days on the market is 159 days. Combined days on the market is 209. In the condo market, there are 13 active listings in Shadow Wood. Ranging in price from $284,900 to $399,000. The average list price is $338,392 and the average days on the market is 96. Combined days on the market is 132.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 25 sales; the average sales price was $374,112; and, these condos were on the market an average of 40 days; combined days on the market is 102.
- During the 12 months previous, there were 22 sales; the average sales price was $331,950; and, these homes were on the market an average of 68 days; combined days on the market is 118.
- During the last 12 months, there were 48 sales; the average sales price was $972,974; these homes were on the market an average of 106 days; combined days on the market is 193.
- During the 12 months previous, there were 61 sales; the average sales price was $958,928; and, these homes were on the market an average of 90 days; combined days on the market is 185.
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OPPORTUNITIES IN A CHALLENGING MARKET
“Every year presents its challenges,” said Mike Hughes, general manager for Downing-Frye Realty, Inc. “It’s how you meet those challenges that defines your year, and so far our year has been solid with Downing-Frye agents participating in over 1,700 closings through the latter part of July. This year, our cash buyers have been affected by the Canadian exchange rate and January’s volatile stock market. And the whole real estate market seems affected by the wait-and-see presidential election. But, our inventory remains strong (over 1,000 listings) and we are on pace to close over 3,000 transactions in 2016.”
Florida’s housing market reported higher median prices and fewer days to a contract in June. Home sellers continued to get more of their original asking price at the closing table in June: 96.3 percent of original listing price for single-family and 94.6 percent for condos. The statewide median sales price for single-family existing homes in June was $225,000, up 10.8 percent from the previous year; and for townhouse-condos was $164,000, up 8.6 percent. Inventory was at a 4.3-months’ supply in June for single-family homes and at a 6-months’ supply for townhouse-condo properties.
BONITA /ESTERO: JUNE 2016 VS. JUNE 2015:
Overall number of active listings: 900 vs. 538
Overall closed sales: 158 vs. 202
Single-family median sale price: $385,000 vs. $379,000
Multi-family median sale price: $248,000 vs. $257,500
June 2016 inventory: 6.3 months
May 2016 percentage of list price for overall sales: approx. 94 percent
Boosted by a greater share of sales to first-time buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month. Lawrence Yun, NAR chief economist, says the impressive four month streak of sales gains through June caps off a solid first half of 2016 for the housing market. “Existing sales rose again last month as more traditional buyers and fewer investors were able to close on a home despite many competitive areas with unrelenting supply and demand imbalances,” he said. “Sustained job growth as well as this year’s descent in mortgage rates is undoubtedly driving the appetite for home purchases.”
Properties typically stayed on the market for 34 days in June, an increase from 32 days in May but unchanged from a year ago. Short sales were on the market the longest at a median of 156 days in June, while foreclosures sold in 49 days and non-distressed homes took 30 days. Forty-eight percent of homes sold in June were on the market for less than a month.
Things are Getting Greener Around Here!
Shadow Wood North Course hole #7, looking toward the green.