01 Aug Shadow Wood at the Brooks Real Estate News | August 2020
As of August 1, 2020, there are 43 active listings in our area multiple listing service (MLS) in Shadow Wood; 5 less than last month. There are 33 single-family homes ranging in price from $499,900 to $2,095,000. The average list price is $1,072,030 and the average days on the market is 166. The combined days on the market is 239. In the condo market, there are 10 active listings in Shadow Wood, ranging in price from $254,000 to $575,000. The average list price is $413,969 and the average days on the market is 105. Combined days on the market is 203.
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SUMMARY OF SHADOW WOOD HOME SALES
SHADOW WOOD CONDOs
- Within the last 12 months, there were 27 sales; the average sales price was $361,511; and, these condos were on the market an average of 105 days; combined days on the market is 209.
- During the 12 months previous, there were 28 sales; the average sales price was $338,461; and, these homes were on the market an average of 123 days; combined days on the market is 216.
SINGLE-FAMILY SHADOW WOOD HOMES
- During the last 12 months, there were 45 sales; the average sales price was $836,821; and, these homes were on the market an average of 103 days; combined days on the market is 252.
- During the 12 months previous, there were 69 sales; the average sales price was $824,398 and, these homes were on the market an average of 102 days; combined days on the market is 209.
For a list of SHADOW WOOD homes sold in the last 12 months, click here.
For a list of SHADOW WOOD homes that are pending at the moment, click here.
August 2020 Market Update
SUMMER SALES SIZZLE
“We’re selling as many properties as we’re listing,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “We began the year with 1,006 properties for sale and now we have 1,010, but in the meantime we’ve had 1,513 closed transactional sides. This summer has exceeded all expectations. Comparing this June and July to the same period last year, our pending sales volume is UP 71 percent with $310 million in pending sales volume compared to $181 million during the same period last year. Our pending sale transactions are up 33 percent with increases in every price range. Notably, pending sales above $1,000,000 are up 120 percent, and single family homes continue to be the most desirable property type.”
BONITA /ESTERO: DEMAND HIGH, INVENTORY LOW
As of June 2020, the days on market decreased by 18 percent, as pending sales increased by 44.7 percent. New listings increased by 59.4 percent over June 2019, but area brokers say the new inventory is still not enough to keep up with increasing buyer demand. In comparing June 2020 with June 2019, pending sales are up 44.7 percent and the median closed sales price of $325,000 is up 6.6 percent. The current inventory stands at 1,272 available properties, which is down 20.8 percent from last year, and represents 4.6 months supply.
FLORIDA: STRONG MARKET POINTS TO RECOVERY
June’s closed sales of single-family homes statewide rose 1.3 percent year-over-year, totaling 27,650, while condo-townhouse sales decreased 10.9 percent, for a total of 8,996. In June, the statewide median sales prices for all housing types rose year-over-year for 102 consecutive months. The statewide median sales price for single-family existing homes was $282,000, up 4.4 percent from the previous year. Florida Realtors Chief Economist Dr. Brad O’Connor said, “Statewide new pending sales of single-family homes were up 23.2 percent year-over-year. Meanwhile, new pending sales of condo-townhouse units rose 19.8 percent compared to June 2019. Several factors are playing into this renewed demand for housing, but by far, the most important factors are record-low mortgage interest rates and the release of all the pent-up demand from our derailed spring buying season.”
USA: SALES CLIMB IN JUNE
Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic. “The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown,” said Lawrence Yun, NAR’s chief economist. “This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.” The median existing-home price for all housing types in June was $295,300, up 3.5 percent from June 2019 ($285,400). Total housing inventory at the end of June totaled 1.57 million units, up 1.3 percent from May, but still down 18.2 percent from one year ago (1.92 million). Properties typically remained on the market for 24 days in June, seasonally down from 26 days in May, and down from 27 days in June 2019. Sixty-two percent of homes sold in June 2020 were on the market for less than a month.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
At Shadow Wood Country Club, the health and safety of membership is a top priority. Staff are working hard to attempt to limit Club members’ and staffs’ exposure to the virus while continuing to provide members access to Club amenities.
Shadow Wood’s newest restaurant, the Golfside Grill, is offering prepared meals for curbside pick-up, Executive Chef Richard Crisanti and his team put together a menu of delicious meals to include both family-style and individual sizes. This curbside service is in-place for pickup of your prepared meals for you to enjoy in the comfort and safety of your own home! To view the to-go menu, click here. In addition to providing prepared meals, Shadow Wood is proud to offer their members a selection of items to purchase if there are necessities that we can assist them with to fill their pantry or fridge. To view the list of groceries available for member purchase, click here.
Visit the blog post to read more about how you can get involved as a Shadow Wood member: visit the blog here.
June Market Activity Sets the Stage for Strong Summer Sales
Why Chose Me as Your REALTOR®?To learn more about me and my real estate business, I encourage you read the About Ed section as well as the Testimonial section of the site. Over the years, my clients have expressed their satisfaction in my services and I’ve showcased their kind words so you can determine if I am the right REALTOR® to represent you.
If you are curious as to my sales success, visit my Sold Homes page. This gives a clear picture of exactly what I’ve accomplished and, more importantly, what I can accomplish for you.