05 Dec Shadow Wood at the Brooks Real Estate News | December 2016
As of December 1, 2016, there are 67 active listings in Shadow Wood; 6 more than last month. There are 46 single-family, listed homes ranging from $510,000 to $2,250,000. The average list price is $1,092,611 and the average days on the market is 124 days. Combined days on the market is 169. In the condo market, there are 21 active listings in Shadow Wood. Ranging in price from $284,900 to $695,000. The average list price is $379,700 and the average days on the market is 114. Combined days on the market is 152.
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Ed Gongola
SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 26 sales; the average sales price was $393,712; and, these condos were on the market an average of 44 days; combined days on the market is 113.
- During the 12 months previous, there were 23 sales; the average sales price was $333,013; and, these homes were on the market an average of 67 days; combined days on the market is 121.
SINGLE-FAMILY
- During the last 12 months, there were 44 sales; the average sales price was $970,056; these homes were on the market an average of 109 days; combined days on the market is 202.
- During the 12 months previous, there were 59 sales; the average sales price was $977,743; and, these homes were on the market an average of 90 days; combined days on the market is 175.
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Shadow Wood December Events
Be sure to fill your calendar with 2016 events at Shadow Wood. Here is December’s event schedule:
December 3 – Preserve Holiday Dinner
December 9 – Holly Ball
December 31 – New Year’s Eve Party
Click here for membership information.
FULL-STEAM, AHEAD!
“We’ve seen real estate activity at a consistent level all year long,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty. “As soon as one property is being listed another is being sold. After an unusual year, the reluctance to move forward that many buyers as well as sellers were having is dissipating, and we are seeing good activity in the local market. Part of this is fueled by the number of new communities being built, which is helping to sate the desire for new construction, and part is the new perspective gained post-election. In any event, Downing-Frye is poised for a solid finish to 2016 and a busy start for 2017.”
October saw tight inventory with 756 single family homes and 777 condominiums on the market. Estero is seeing the most inventory shortages, specifically in the $3-500K price point. However, as both markets move into the winter selling season, listings are increasing. “Now that the election is over, we are seeing a notable increase in listings,” stated Jerry Murphy, Managing Broker, Downing-Frye. “Buyers are feeling more at ease and ready, and attending more open houses.”
The number of overall closed sales, including single-family homes and condos, for the 12 months ending October 2016 was 2,798 units as compared to 3,263 units for the 12 months ending October 2015, a 14 percent decrease. Pending sales for October 2016 were at a 15 percent decrease with 2,702 units versus 3,193 units compared to October 2015. The days-on-market was 95 days, which was an increase of 56 percent from 61 days in October 2015. As of November 1, 2016, there were 1,533 units of inventory for single family homes and condominiums, and the current months of inventory stands at four months.
USA: OCTOBER SALES UP
Existing-home sales ascended in October for the second straight month and eclipsed June’s cyclical sales peak to become the highest annualized pace in nearly a decade.
“The ramp-up in housing starts in October is a hopeful sign that overall supply can steadily increase enough to provide more choices for buyers and also moderate price growth,” said Lawrence Yun, NAR chief economist. “A prolonged continuation of the robust single-family starts pace seen last month (869,000) would go a long way in giving homeowners much-needed assurance that they can list their home for sale and find a new home to buy within a reasonable time-frame. As a result of the anticipated economic stimulus in early 2017, mortgage rates post-election have now surged to around 4 percent as investors expect a strengthening economy and higher inflation.”
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