01 Mar Shadow Wood at the Brooks Real Estate News | March 2020
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SUMMARY OF SHADOW WOOD HOME SALES
SHADOW WOOD CONDOS
- Within the last 12 months, there were 34 sales; the average sales price was $356,332; and, these condos were on the market an average of 114 days; combined days on the market is 211.
- During the 12 months previous, there were 29 sales; the average sales price was $339,366; and, these homes were on the market an average of 100 days; combined days on the market is 213.
SINGLE-FAMILY SHADOW WOOD HOMES
- During the last 12 months, there were 62 sales; the average sales price was $828,574; and, these homes were on the market an average of 130 days; combined days on the market is 270.
- During the 12 months previous, there were 72 sales; the average sales price was $874,867 and, these homes were on the market an average of 96 days; combined days on the market is 181.
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MARCH 2020 MARKET UPDATE
Area brokers anticipate continued overall stability in the market, but advise buyers to remain focused on limited inventory and the challenges it brings. “Choices are very limited,” stated Jerry Murphy, Managing Broker, Downing-Frye Realty, Bonita Springs. “Right now, it’s more critical for buyers to focus on getting the property they really want as opposed to waiting for a better price, which is not likely to happen in this current healthy market.” Market wide inventory is down 28.5 percent versus January 2019, while the percent of list price received remains steady with just 0.6 percent increase over the same time last year. Buyers should also know that the month’s supply of inventory currently sits at 5.5 months, whereas in January 2019, it was 8.5 months – a significant decrease of 35.3 percent. New listing in January were down 10.7 percent compared to the previous January, while pending sales were up 54.9 percent.
U.S. Housing Supply Reaches All-Time Low
Realtor.com: Housing inventory dropped 13.6% in Jan. – the steepest year-over-year decline in over four years. The current supply of for-sale homes in the U.S. is the lowest it’s been since realtor.com began tracking it in 2012. It’s down 10%-20% in the four Fla. cities tracked.
- Tampa-St. Petersburg-Clearwater: Active listings down 20.2%, with 4 fewer days on the market
- Orlando-Kissimmee-Sanford: Active listings down 15.8%, with 6 fewer days on the market
- Miami-Fort Lauderdale-West Palm Beach: Active listings down 11.2% with 3 fewer days on the market
- Jacksonville: Active listings down 10.5% with 5 fewer days on the market
March 4 | Mardi Gras Happy Hour
March 6 | Fine Food & Wine Dinner
March 7 | “One Hit Wonders” Dinner Dance
March 12 | Seafood Extravaganza
March 22 | Couples’ Guest Day
March 26 | Men’s Progressive Round Robin
Most Recent Blog: Shadow Wood Country Club Brand Film
This season, Shadow Wood partnered with the industry’s premier video production company, Private Club Films, to create a unique brand film to showcase our Club to those who haven’t shared the Shadow Wood experience yet. They say that if a picture is worth a thousand words, then video is worth a million! With so many exciting things to highlight at Shadow Wood, from amenities, to activities, to the people, and the location, we decided to take that quote to heart. Please enjoy the Shadow Wood Brand Video!
Visit the blog post to read more about how you can get involved as a Shadow Wood member: visit the blog here.
Luxury Home Buyers are Back!
January Home Sales Set the Stage for Solid 1st Quarter
|Jan 2019||Jan 2020||CHANGE|
|Total closed sales (year/year)||594||722||+21.5%|
|Total pending sales (homes under contract) (year/year)||1,022||1,359||+33.0|
|Median closed price (year/year)||$325,000||$343,000||+5.5%|
|Total active listings (inventory)||7,773||5,761||-25.9%|
|Average days on market||96||107||+11.5%|
|Single-family closed sales (year/year)||318||361||+13.5%|
|Single-family median closed price (year/year)||$380,500||$437,500||+15.0%|
|Condominium closed sales (year/year)||276||361||+30.8%|
|Condominium median closed price (year/year)||$260,000||$270,000||+3.8%|
What Makes Buyers Fall in Love with a Home?
Survey: Buyers want things in a home but fall in love with unexpected perks. In Fla., canals are the big love, but man-caves, she-sheds and workshops top the U.S. list.
SANTA CLARA, Calif. – What makes someone fall in love with a home? Across the U.S., people swoon over fabulous pools, stunning water views and ever-sexy storage space, but a new analysis attempted to find out the things that make home shoppers’ hearts skip a beat. To do that, realtor.com analyzed keyword home search data in each U.S. state to determine regional must-have features.
In Florida, the top “love” was a water view in the backyard, according to the data.
Mainers want to go “upta camp,” a local term used for a cabin or cottage. Oklahomans look for storm shelters, and California loves solar power. In Hawaii, home shoppers are searching for “fee simple” homes to ensure they own the land and the building in their little piece of paradise. Additionally, D.C. residents want to be near the Metro, the city’s local public transportation system, Pennsylvanians want parking, and in New York, residents would love to have a balcony.
“While some of the country’s most-loved home features, such as accessory dwelling units or lakefront properties, will likely fetch a premium on the open market, others are more matters of the heart,” says George Ratiu, senior economist, realtor.com. “Maybe you grew up in a certain style of home or have always dreamed of having a big yard – everyone’s vision of home is unique and being able to search for what makes a house perfect for you can help you find true love in a new home.”
It’s all about the shed
Nationwide, man-caves, she-sheds, workshops and granny pods topped the love list. Popular search terms in this category include in-law apartment, barn, ADU, casita and RV parking. Residents in 13 states want alternative living spaces – a top must-have item.
Don’t come a-knockin’
People in many states love their privacy – acreage, a fenced yard, room for horses and a country setting all make the top searched feature list. Home shoppers in six states want room to roam and some real separation from the neighbors.
Take my breath away
With baby boomers aging, America has fallen out of love with climbing stairs. Residents in nine states don’t want anything to do with multi-level homes. Top searches in these states include first-floor master, ranch, rambler and single-level.
Beauty is in the eye of the beholder
For some, the old adage rings true that real estate is all about location, location, location. In six states, including Florida, a heavenly location with beautiful views topped the must-have list. Home buyers in these states are searching for a lake view, canal, dock, lakeshore or river access as their favorite features.
For others, it’s all about a house’s looks. For example, in states like Connecticut and New Hampshire that have a lot of older homes, people are looking for contemporary style, while South Carolinians love traditional brick facades and Texans prefer a modern aesthetic.
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