02 Mar Shadow Wood at the Brooks Real Estate News | March 2018
As of March 1, 2018, there are 91 active listings in Shadow Wood; 2 less than last month. There are 59 single-family, listed homes ranging from $450,000 to $2,800,000. The average list price is $1,140,583 and the average days on the market is 120 days. Combined days on the market is 171. In the condo market, there are 32 active listings in Shadow Wood, ranging in price from $269,000 to $595,000. The average list price is $386,756 and the average days on the market is 120. Combined days on the market is 150.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 29 sales; the average sales price was $399,810; and, these condos were on the market an average of 116 days; combined days on the market is 180.
- During the 12 months previous, there were 24 sales; the average sales price was $405,771; and, these homes were on the market an average of 71 days; combined days on the market is 155.
- During the 12 months previous, there were 46 sales; the average sales price was $902,730; and, these homes were on the market an average of 108 days; combined days on the market is 197.
- During the 12 months previous, there were 53 sales; the average sales price was $953,910; and, these homes were on the market an average of 106 days;combined days on the market is 190.
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Shadow Wood FEBRUARY Events Calendar
March 1 | Mardi Gras Happy Hour
March 15 | St. Patrick’s Day Dinner
March 30 | Seder Dinner
March 4 | Couples’ Guest Day
March 14-17 | Men’s Legacy
March 26-28 | Club Championships
March 10 | Pro-Shot Tennis Tournament
March 18 | Bocce Social Mixer
March 29 | Men’s Tennis Round Robin
Click here for membership information.
MARCH 2018 MARKET UPDATE
“The hottest segment of our market right now is the $250-500,000 price range,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Our pending sales since the beginning of the year are 21 percent higher than last year – and 42 percent of that activity has been in this price range. Only three years ago, 70 percent of buyers were paying with all cash, and today that number is down to half, indicating that there are more end users these days rather than investors. That speaks well about the continued desirability of living here.”
FLORIDA: ONGOING SHORTAGE OF HOUSING
Sales of single-family homes statewide totaled 16,564 in January, down 1.3 percent compared to January 2017; and for the condo-townhouse market, statewide closed sales totaled 7,634, up 5.9 percent. The statewide median sales price for single-family existing homes was $240,000, up 9.1 percent from the previous year, and for condo-townhouse properties was $179,900, up 11.7 percent. “Florida Realtors’ data shows sales of existing single-family homes in Florida were off to a slow start in the first month of 2018,” said FAR’s Chief Economist Dr. Brad O’Connor. “Lately, condo and townhouse sales growth has been outpacing that of single-family homes, and the reason is that the picture for condos and townhouses has been much more balanced. The single-family home market, by contrast, continues to be held back by inadequate levels of new construction.”
USA: PENDING SALES COOL IN JANUARY
Pending home sales cooled considerably in January to their lowest level in over three years. The number of available listings at the end of January was at an all-time low for the month and a startling 9.5 percent below a year ago. “The lower end of the market continues to feel the brunt of these supply and affordability impediments. Lawrence Yun, NAR chief economist said, “With the cost of buying a home getting more expensive and not enough inventory, some prospective buyers are either waiting until listings increase come spring or now having to delay their search entirely to save up for a larger down payment.” For 2018, Yun forecasts existing-home sales to be around 5.50 million – roughly unchanged from 2017. The national median existing-home price this year is expected to increase around 2.7 percent. In 2017, existing sales increased 1.1 percent and prices rose 5.8 percent.
Most Recent Blog: Shadow Wood Legacy Golf Events
Every season, Shadow Wood hosts over 70 different golf events. Two of the most exciting and anticipated golf events of the season are the Men’s Legacy and the Ladies’ Legacy Invitationals. This year, the Ladies’ Legacy was held in late February, and the Men’s Legacy will be held in mid-March. The Legacy events started taking place at Shadow Wood 18 years ago and continue to grow every year. These elaborate, multiple day premier events are a golf lover’s dream! For the 2017 men’s legacy, there were 108 teams representing 93 country clubs from all over the country. The 2017 Ladies’ legacy totaled in at 94 teams, representing 64 different country clubs.
To visit the blog and read more about Shadow Wood Legacy Golf Events, click here.
The Spring Home Checklist
A Word from Downing-Frye Broker & General Manager Mike Hughes: An Amazing February 2018
The news keeps getting better. Our closed sales volume for the first nine days of February is UP 73% over the first nine days of February 2017! The weather is great here and yet somewhat miserable up north. I anticipate that this will go down as a pretty good season for us. The February 2017 pending sales contracts (turned in to our Accounting Department) are up 26% over last February.