02 Nov Shadow Wood at the Brooks Real Estate News | November 2016
As of November 1, 2016, there are 61 active listings in Shadow Wood; 10 more than last month. There are 44 single-family, listed homes ranging from $510,000 to $2,250,000. The average list price is $1,025,777 and the average days on the market is 112 days. Combined days on the market is 159. In the condo market, there are 17 active listings in Shadow Wood. Ranging in price from $284,900 to $709,900. The average list price is $371,076 and the average days on the market is 121. Combined days on the market is 149.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 28 sales; the average sales price was $390,214; and, these condos were on the market an average of 48 days; combined days on the market is 115.
- During the 12 months previous, there were 22 sales; the average sales price was $330,673; and, these homes were on the market an average of 65 days; combined days on the market is 121.
- During the last 12 months, there were 45 sales; the average sales price was $987,456; these homes were on the market an average of 116 days; combined days on the market is 208.
- During the 12 months previous, there were 58 sales; the average sales price was $954,342; and, these homes were on the market an average of 83 days; combined days on the market is 168.
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Shadow Wood OCTOBER Events
Be sure to fill your calendar with 2016 events at Shadow Wood. Here is November’s event schedule:
November 13 – Wine Tasting
November 20 – Elton John Dinner Dance
November 26 – Thanksgiving Buffet
November 5 – Men’s Guest Day
November 8 – Couples’ Guest Day
Nov 11/12 – Men’s Member/Member
Nov 17/18 – Ladies Member/Member
November 22 – 9 & Dine
Click here for membership information.
“SEASON” MAY BE EARLY THIS YEAR
“Our current closed sales volume is $1,156,721,668.67 through September 30, 2016,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “I have seen a number of listings come in lately. This is the time of year when many people list their property for sale. Typically the total number of listings goes up in the month of October, which means that we’re building a strong inventory to accommodate the buyer demand that we expect this winter season. Last month our part-time residents already started returning en-masse, an indication that the busy season will begin even earlier this year.”
Florida’s housing market reported more new listings, increased median prices and fewer all-cash closed sales in September. In September, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 58th month in a row.
“Even though the number of Florida single family home sales in September was essentially the same as last year, the composition of this year’s group was quite different -and in a good way,” said Florida Realtors® Chief Economist Brad O’Connor. “Distressed sales made up only 10 percent of single family home sales this September, compared to over 19 percent in September 2015. And only 28 percent of sales were all-cash deals this time around, compared to 34 percent last year.
“If our housing markets are going to return to some semblance of what many might term ‘normalcy,’ it’s vital that both of these trends continue.” Similar to previous months, inventory was at a 4.2-months’ supply in September for single-family homes and at a 5.8-months’ supply for townhouse-condo properties, according to Florida Realtors.
BONITA /ESTERO: SEPT. 2016 VS. SEPT. 2015:
- Overall number of active listings: 903 vs. 670
- Overall closed sales: 156 vs. 139
- Single-family median sale price: $320,000 vs. $367,500
- Multi-family median sale price: $219,000 vs. $240,000
- Sept. 2016 inventory: 6.2 months for single-family, 5.8 months for multi-family
- Sept. 2016 percentage of list price for overall sales: approx. 94.8 percent
Pending home sales shifted higher in September following August’s notable dip and are now at their fifth highest level over the past year. Increases in the South and West out gained declines in the Northeast and Midwest.
“Buyer demand is holding up impressively well this fall with Realtors® reporting much stronger foot traffic compared to a year ago,” Lawrence Yun, NAR chief economist said. “Although depressed inventory levels are keeping home prices elevated in most of the country, steady job gains and growing evidence that wages are finally starting to tick up are encouraging more households to consider buying a home.”
According to Yun, there are many positive indicators showing that the housing market’s overall health continues to improve as we near the end of 2016. In addition to sales matching their third highest pace (5.47 million) since February 2007 (5.79 million), distressed sales – foreclosures and short sales – fell to their lowest share since NAR began tracking them in October 2008 (4 percent). Furthermore, sales to first-time buyers reached 34 percent, which matched the highest share since July 2012 and was up convincingly from September 2015 (29 percent).
“The one major predicament in the housing market is without a doubt the painfully low levels of housing inventory in much of the country,” added Yun. “It’s leading to home prices outpacing wages, properties selling a lot quicker than a year ago and the home search for many prospective buyers being highly competitive and drawn out.
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