03 Feb Shadow Wood at the Brooks Real Estate News | February 2017
As of February 1, 2017, there are 74 active listings in Shadow Wood; 3 more than last month. There are 49 single-family, listed homes ranging from $525,000 to $2,995,000. The average list price is $1,193,655 and the average days on the market is 116 days. Combined days on the market is 174. In the condo market, there are 25 active listings in Shadow Wood. Ranging in price from $275,000 to $610,000. The average list price is $375,928 and the average days on the market is 119. Combined days on the market is 158.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 22 sales; the average sales price was $402,500; and, these condos were on the market an average of 53 days; combined days on the market is 131.
- During the 12 months previous, there were 25 sales; the average sales price was $326,036; and, these homes were on the market an average of 52 days; combined days on the market is 106.
SINGLE-FAMILY SHADOW WOOD HOMES
- During the last 12 months, there were 51 sales; the average sales price was $941,770; these homes were on the market an average of 109 days; combined days on the market is 209.
- During the 12 months previous, there were 57 sales; the average sales price was $975,673; and, these homes were on the market an average of 91 days; combined days on the market is 176.
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Shadow Wood 2017 Tennis & Bocce Events
Be sure to fill your calendar with 2017 tennis and bocce events. Here’s 2017’s schedule:
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FEBRUARY MARKET UPDATE
A STRONG START TO THE YEAR
“We are happy to report that activity steams forward,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty. “In 2016 we closed over $1.4 billion in sales volume, and went into the new year with a strong inventory of over 1,300 listings. Through January, we were up 26% in closings over the same period last year. We continue to be optimistic about this year’s activity, especially in light of our recent performance.”
BONITA /ESTERO: BUYER’S MARKET FOR RESALES
December 2016 saw a continuation of closed home sales in all price points with an overall 3 percent increase in the median closed price. “A 3 percent increase in the median closed price shows nice, steady growth for the Bonita Springs and Estero markets,” stated Jerry Murphy, managing broker, Downing-Frye. “This number reflects a healthy, stable market.” The number of overall closed sales, including singlefamily homes and condos, for the 12 months ending December 2016 was 2,904 units as compared to 3,132 units for the 12 months ending December 2015, a seven-percent decrease. Pending sales for December 2016 were at a 9 percent decrease with 2,872 units versus 3,174 units compared to December 2015. The dayson-market was 105 days, which was an increase of 38 percent from 76 days in December 2015. As of Jan. 1, 2017, there were 1,475 units of inventory for single-family homes and condominiums, and the current months of inventory stands at five months.
FLORIDA: TIGHT HOUSING SUPPLY
Home sellers continued to get more of their original asking price at the closing table in December: Sellers of existing single-family homes received 96 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent (median percentage). The statewide median sales price for single-family existing homes in December was $226,000, up 9.2 percent from the previous year. “Florida’s markets for existing homes closed out the year in December with a performance very much in line with what we saw over the previous 11 months of 2016,” said Florida Realtors® Chief Economist Brad O’Connor. “At the local level, single family home sales increased in 15 of Florida’s 22 metro areas, while condo and townhouse sales rose in only five of these markets. And, as has been the case all year, the lack of significant sales growth in much of the state has had a lot more to do with a shortfall of supply in key price tiers than with demand.” Inventory dipped to a 3.9-months’ supply in December for single-family homes and was at a 6-months’ supply for townhouse-condo properties.
USA: 2016 SALES BEST SINCE 2006
Existing-home sales closed out 2016 as the best year in a decade, even as sales declined in December as the result of ongoing affordability tensions and historically low supply levels. Lawrence Yun, NAR chief economist, says the housing market’s best year since the Great Recession ended on a healthy but somewhat softer note. “Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market,” he said. “However, higher mortgage rates and home prices combined with record low inventory levels stunted sales in much of the country in December. Given current population and economic growth trends, housing starts should be in the range of 1.5 million to 1.6 million completions and not stuck at recessionary levels.”
Shadow Wood Country Club has announced their partnership with golf course architect Rees Jones for North and South course renovations planned for the summer months of 2017 and 2018. Dr. Jay Sandza, chair of the club’s grounds committee, said that Jones’ desire to preserve the character of the Bob-Cupp-designed courses, along with a strong recommendation from Cupp before his passing in August, was paramount in their unanimous selection decision. “The combination of Rees’ experience, his skilled team of designers and his friendship with Bob Cupp makes for the perfect combination for Shadow Wood Country Club as it evolves in the years to come,” said Sandza. Jones will visit Shadow Wood Country Club in January to begin the renovation process. He will return in late February to discuss his philosophy for the Club’s courses with the membership and answer questions about his approach to the renovations.”We are pleased to have been selected to provide design services for Shadow Wood Country Club,” said Jones. “It is our intention to enhance the playing experience for both the North and South golf courses while maintaining the original design concepts, playability, shot options and enjoyment for all members.” Founded in 1974 and headquartered in Montclair, New Jersey, Rees Jones Inc. Golf Course Design provides customized designs and construction supervision for private clubs, resorts, real estate communities and public facilities in the U.S. and worldwide. Jones has designed or redesigned more than 170 golf courses in his career. His remodeling skills have been applied to seven U.S. Open venues, eight PGA Championship courses, five Ryder Cup sites, and two Walker Cup sites, as well as the President’s Cup at The Royal Montreal Golf Club. He also redesigned East Lake Golf Club, the permanent site of the PGA TOUR Championship that is now the final event of the FedEx Cup. Shadow Wood Country Club is a private, member-owned, financially sound club located in Bonita Springs east of U.S. 41 off of Coconut Road. Shadow Wood Country Club includes 54 holes of championship golf among three distinctly different championship golf courses, including Shadow Wood North and South and the Arthur Hills-designed course at Shadow Wood Preserve. Members also enjoy a nine-court tennis complex, 30,000-square-foot clubhouse named Best Renovation of the Year in 2012, and a 16,000-square-foot clubhouse at Shadow Wood Preserve.