Shadow Wood at the Brooks Real Estate News | June 2016

Shadow Wood at the Brooks Real Estate News | June 2016

As of June 1, 2016, there are 49 active listings in Shadow Wood; 3 less than last month. There are 37 single-family, listed homes ranging from $495,000 to $2,250,000. The average list price is $1,089,105 and the average days on the market is 122 days. Combined days on the market is 193. In the condo market, there are 12 active listings in Shadow Wood. Ranging in price from $284,900 to $459,000. The average list price is $344,175 and the average days on the market is 78. Combined days on the market is 121.

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

CONDO

    • Within the last 12 months, there were 22 sales; the average sales price was$367,495; and, these condos were on the market an average of 49 days;combined days on the market is 112.
    • During the 12 months previous, there were 22 sales; the average sales price was$323,905; and, these homes were on the market an average of 68 days;combined days on the market is 118.
    SINGLE-FAMILY
    • During the last 12 months, there were 46 sales; the average sales price was$957,875; these homes were on the market an average of 110 days; combineddays on the market is 197.
    • During the 12 months previous, there were 65 sales; the average sales price was$919,290; and, these homes were on the market an average of 80 days;combined days on the market is 176.


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.


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SWFL Real Estate Challenges and Opportunities

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“Every year has its challenges,” said Mike Hughes, vice president and general manager of Downing-Frye Realty, “but it’s how you meet those challenges that determines success. In spite of the severe stock market decline in January, the deflated Canadian dollar and the negative national political scene, Downing-Frye is having another good year. Sales have been at a steady pace and we have more listings now than we did this time last year. We’ve already closed over 1,100 transactional sides which equates to just over $700 Million in closed sales volume. Our listing inventory of over 1,300 properties is impressive. Both 2014 and 2015 were spectacular years for sales activity, and hopefully this year will be another good year. We believe that the steady sales pace will continue, and we’re cautiously optimistic for the summer months. Great opportunities exist right now for buyers, and those opportunities could already be cherry-picked if they wait too long to purchase.”

Florida’s housing market reported increased new listings, rising median prices, fewer days to a contract and fewer cash closed sales in April. Sellers continued to get more of their original asking price at the closing table. Sellers of existing single-family homes in April received 95.9 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.5 percent (median percentage). The statewide median sales price for single-family
existing homes in April was $213,000, up 9.2 percent from the previous year. Inventory was at a 4.5-months’ supply in April for single-family homes and at a 6.3-months’ supply for townhouse-condo properties.

Lawrence Yun, NAR chief economist, says April’s sales increase signals slowly building momentum for the housing market this spring. “Primarily driven by a convincing jump in the Midwest, where home prices are most affordable, sales activity overall was at a healthy pace last month as very low mortgage rates and modest seasonal inventory gains encouraged more households to search for and close on a home,” he said. Total housing inventory at the end of April increased 9.2 percent to 2.14 million existing homes available for sale, but is still 3.6 percent lower than a year ago (2.22 million). Unsold inventory is at a 4.7-month supply at the current sales pace, up from 4.4 months in
March. “Looking ahead, with demand holding steady and supply levels still far from sufficient, the market for entry-level and mid-priced homes will likely continue to be the most competitive heading into the summer months,” says Yun.

BONITA /ESTERO: APRIL 2016 VS. APRIL 2015:

  • Overall number of active listings: 954 vs. 770
  • Overall closed sales: 206 vs. 251
  • Single-family median sale price: $375,000 vs. $400,000
  • Multi-family median sale price: $315,000 vs. $255,000
  • Apr. 2016 inventory: 6.4 months for single-family, 5.3 months for multi-family
  • Apr. 2016 percentage of list price for overall sales: Approx. 95 percent

Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.

 

 

 

 

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This Year’s Spring Market: Better than Expected

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The data emphatically shows the housing market keeps on getting stronger this spring.

After last week’s report on existing-home sales rising 1.7 percent in April, we announced this morning that pending home sales (signed contracts) last month jumped 5.1 percent to an index reading of 116.3.

The last time the index was this high (February 2006; 117.4), Phoenix Suns point guard Steve Nash was on his way to winning his second Most Valuable Player award, Beyonce’s “Check On It” was the number one hit on the Billboard 100, and Shaun White won a gold medal in the Men’s Halfpipe competition at the 2006 Winter Olympics in Turin, Italy.

In other words, despite ongoing supply constraints and affordability concerns, it’s been a long time since the housing market has seen this many buyers signing the dotted line to purchase a home.
Can the trend continue? Lawrence Yun, NAR chief economist, thinks so. Even if mortgage rates rise soon, as expected at some point once the fading effects of last year’s cheap oil on consumer prices edges up inflation, he says sales have legs for further expansion heading into the summer. They key denominator is supply needs to at least come close to meeting the pent-up demand in many markets.
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Source:National Association of REALTORs®