04 Feb Shadow Wood at the Brooks Real Estate News | February 2016
We’ve seen prices in Shadow Wood real estate edging upward on a consistent basis all year long. That has not stopped sales activity which remains at a steady clip. My advice to buyers is to move quickly if you find something you like or you may lose it. And to potential sellers, if you’ve been vacillating about selling, now may be the best time to consider listing your property.
As of February 1, 2016, there are 53 active listings in Shadow Wood; 13 more than last month. There are 41, single-family, listed homes ranging from $489,900 to $2,400,000. The average list price is $1,209,332 and the average days on the market is 112 days. Combined days on the market is 175. In the condo market, there are 12 active listings in Shadow Wood. Ranging in price from $299,000 to $549,000. The average list price is $381,433 and the average days on the market is 82. Combined days on the market is 93.
Whether you are buying or selling, if you are looking for REALTOR® representation, think of me and allow me to share my 30 years of experience putting buyers and sellers together in SWFL.
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:
CONDO
- Within the last 12 months, there were 25 sales; the average sales price was $326,036; and, these condos were on the market an average of 52 days; combined days on the market is 106.
- During the 12 months previous, there were 26 sales; the average sales price was $313,785; and, these homes were on the market an average of 110 days; combined days on the market is 160.
SINGLE-FAMILY
- During the last 12 months, there were 56 sales; the average sales price was $967,203; these homes were on the market an average of 92 days; combined days on the market is 178.
- During the 12 months previous, there were 64 sales; the average sales price was $932,960; and, these homes were on the market an average of 95 days; combined days on the market is203.
For a list of SHADOW WOOD homes sold in 2016, click here.
For a list of SHADOW WOOD homes that are pending at the moment, click here.
Meet Ed Gongola and discover how he can help you with his concierge style of service when buying or selling your home.
Shadow Wood FEBRUARY Events
Be sure to fill your calendar with 2016 events at Shadow Wood. Here is January’s event schedule:
Social Events
February 2 – Game Night
February 7 – Super Bowl Party
February 10 – Mardi Gras Happy Hour
February 13 – Sweetheart’s Ball
February 23 – Wine Tasting
February 27 – New England Lobster Bake
Golf Events
Feb 3 & 4 – Men’s Member/Member
February 9 – Ladies Guest Day
February 11 – Men’s Guest Day
February 21 – Husband & Wife Championship
Tennis Events February 5 – Fort Myers Pro League
February 13 – Valentine’s Day “Love” Mixed Doubles
February 26 – Women’s Member/Guest Day
Chef Rich’s Cooking Class
February 15
Bocce Ball Tournament & Dinner
February 25
Click here for membership information.
ANOTHER RECORD YEAR FOR DOWNING-FRYE REALTY MEANS STRONG BUYER INTEREST IN 2016
“For the second year in a row, Downing-Frye agents closed over 4,000 transactional sides for the year,” said Mike Hughes, vice president and general manager of Downing-Frye Realty. “This is very rare. This high level of sales activity indicates tremendous buyer interest in Southwest Florida.”
Florida’s housing market reported higher median prices, fewer days on the market and tightening inventory in December, according to the latest housing data released by Florida Realtors®.
Closed sales of single-family homes statewide totaled 23,056 last month, up 2.9 percent over the December 2014 figure. The statewide median sales price for single-family existing homes last month was $206,500, up 11.6 percent from the previous year. For townhouse-condo properties, the median sales price in December was $156,500, up 5 percent over the year-ago figure.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, ascended 14.7 percent to a seasonally adjusted annual rate of 5.46 million in December from 4.76 million in November. After last month’s turnaround (the largest monthly increase ever recorded), sales are now 7.7 percent above a year ago. Lawrence Yun, the chief economist for the National Association of REALTORS®, says December’s robust bounce back caps off the best year of existing sales (5.26 million) since 2006 (6.48 million). “While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015,” he said. “Additionally, the prospect of higher mortgage rates in coming months and warm November and December weather allowed more homes to close before the end of the year.”
Bonita/Estero Real Estate: November 2014 vs. November 2015:
- Overall number of active listings: 850 vs. 842
- Overall closed sales: 198 vs. 188
- Single-family median sale price: $388,901 vs. $340,000
- Multi-family median sale price: $255,500 vs. $267,500
- Dec. 2015 inventory: 5.5 months for single-family, 4.3 months for multi-family
- Dec. 2015 percentage of list price for overall sales: 95.44 percent
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
SHADOW WOOD AT THE BROOKS EVENT
The 2016 Brooks/Bonita Bay Heart Walk
Saturday, February 6, 2016
~ The Walk Route will be 5K with a 1-Mile Route Available ~
Join this fundraiser event hosted by The Commons Club on Feb. 6 to benefit The American Heart Association, the largest voluntary health organization working to prevent, treat and defeat heart disease, stroke and other cardiovascular diseases. Click the image on the right for more information.
SHADOW WOOD REAL ESTATE TIPS: The Importance of Intelligent Pricing
Figure 1: Percentage of Buyers by Asking Price
Determining the best asking price for a home can be one of the most challenging aspects of selling a home. It is also one of the most important. If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwise be prime candidates to purchase your home. If you list at a price that is below market value, you will ultimately sell for a price that is not the optimum value for your home. As Figure 1 illustrates, more buyers purchase their properties at market value than above market value. The percentage increases as the price falls even further below market value. Therefore, by pricing your property at market value, you expose it to a much greater percentage of prospective buyers. This increases your chances for a sale while ensuring a final sale price that properly reflects the market value of your home .
Figure 2: Activity versus Timing
Another critical factor to keep in mind when pricing your home is timing. A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed on the market (see Figure 2). Improper pricing at the initial listing misses out on this peak interest period and may result in your prop erty languishing on the market. This may lead to a below market value sale price (see Figure 3), or, even worse, no sale at all. Therefore, your home has the highest chances for a fruitful sale when it is new on the market and the price is reasonably established.
I can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum
Figure 3: The Effect of Overpricing
hassle.