05 Jul Shadow Wood at the Brooks Real Estate News | July 2016
As of July 1, 2016, there are 45 active listings in Shadow Wood; 4 less than last month. There are 34 single-family, listed homes ranging from $495,000 to $2,250,000. The average list price is $1,123,871 and the average days on the market is 140 days. Combined days on the market is 222. In the condo market, there are 11 active listings in Shadow Wood. Ranging in price from $284,900 to $459,000. The average list price is $349,211 and the average days on the market is 103. Combined days on the market is 128.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 25 sales; the average sales price was$379,836; and, these condos were on the market an average of 46 days;combined days on the market is 107.
- During the 12 months previous, there were 22 sales; the average sales price was$325,859; and, these homes were on the market an average of 65 days;combined days on the market is 117.
- During the last 12 months, there were 48 sales; the average sales price was$969,432; these homes were on the market an average of 107 days; combineddays on the market is 195.
- During the 12 months previous, there were 63 sales; the average sales price was$952,363; and, these homes were on the market an average of 95 days;combined days on the market is 189.
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THANK YOU TO THE COMMUNITY
“This is going to be a great summer for buyers,” said Mike Hughes, vice president and general manager of Downing-Frye Realty. “The overall inventory of available properties has climbed since this time last year. Sellers have been recognizing that their increased home equity can be used for downsizing (or up-sizing), so they’re seguing into new locations which keeps the market active. Many of these seller-buyers are long term Downing-Frye clients, with a sense of loyalty that can’t be bought. This is a strong reason why our company has been voted the “Best Real Estate Company” in Naples for the last 13 years in a row, and in Bonita Springs for the last nine. All I can say, with deep sincerity, is ‘thank you’ to our loyal customers. Because of you, Downing-Frye Realty, Inc. consistently leads the market in overall closed sales transactions. We are proud to have been a real estate partner, not only for our local clients, but also for those new to the area.”
Evidence of increasing consumer confidence is becoming more apparent as sellers returned to the market in May, resulting in a 37 percent increase in overall inventory. As summer approaches, buyers will be happy to learn that median closed prices in May continued on the same trend seen in recent months, and remain steady in all price segments above $300,000 (12-months ending May 2016). The median closed price was $338,000 in May 2016 compared to $332,00 in May 2015.
- Overall number of active listings: 935 vs. 741
- Overall closed sales: 178 vs. 242
- Single-family median sale price: $376,250 vs. $425,000
- Multi-family median sale price: $263,000 vs. $247,500
- May 2016 inventory: 6.6 months for single-family, 5.3 months for multi-family
- May 2016 percentage of list price for overall sales: Approx. 95 percent
Want to Dig In Deep? The REALTORS® Confidence Index May Be the Answer
Highlights of the Report:
- Market conditions vary across local markets, but the REALTORS® confidence and buyer traffic indices indicate that market conditions were mainly “strong” rather than “weak” in May 2016.
- Across all property types, REALTORS® reported strong demand and brisker sales in their areas, but severely low inventory continued to depress sales, pushing prices up and making homes increasingly not affordable, especially for first-time buyers.
- Sustained job growth and the low cost of obtaining a mortgage, with 30-year fixed rates still below four percent, are likely underpinning the strong housing demand.
- First-time home-buyers accounted for 30 percent of sales.
- Very low supply, declining affordability, appraisal issues, and lender processing delays were reported as the key issues affecting sales. Still, most respondents were confident about the outlook for the next six months across all property type.
Source: National Association of REALTORs®