01 Feb Shadow Wood at the Brooks Real Estate News | FEBRUARY 2018
As of February 1, 2018, there are 93 active listings in Shadow Wood; 13 more than last month. There are 62 single-family, listed homes ranging from $470,000 to $2,690,000. The average list price is $1,140,763 and the average days on the market is 126 days. Combined days on the market is 167. In the condo market, there are 31 active listings in Shadow Wood, ranging in price from $275,000 to $615,000. The average list price is $387,706 and the average days on the market is 119. Combined days on the market is 155.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 29 sales; the average sales price was $405,241; and, these condos were on the market an average of 127 days;combined days on the market is 201.
- During the 12 months previous, there were 22 sales; the average sales price was $402,500; and, these homes were on the market an average of 53 days; combined days on the market is 131.
- During the 12 months previous, there were 48 sales; the average sales price was $932,116; and, these homes were on the market an average of 107 days; combined days on the market is 187.
- During the 12 months previous, there were 51 sales; the average sales price was $941,770; and, these homes were on the market an average of 109 days;combined days on the market is 209.
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Shadow Wood FEBRUARY Events Calendar
February 4 | Super Bowl Party
February 10 | Sweetheart’s Ball
February 20 | Wine Tasting
February 24 | Lobster & Clam Bake
February 6 | Ladies’ Guest Day
February 7-8 | Men’s Member-Member
February 11 | Couples’ Championship
February 22 | Men’s Guest Day
February 27-28 | Ladies’ Legacy
February 4 | Super Bowl Tennis Mixer
February 23 | Women’s Member-Guest
Click here for membership information.
FEBRUARY 2018 MARKET UPDATE
“Downing-Frye started off the year with a bang. Our January pending sales are over 34 percent higher than last January,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Although we had challenges from Mother Nature, we closed 2017 with over $1.4 Billion in sales volume and went into the new year with a strong inventory of over 1,200 listings. Our agents are optimistic about this year’s real estate market, especially in light of recent sales activity. Our winter season is in full swing.”
FLORIDA: HOMES PRICES CONTINUE TO RISE
Florida’s housing market reported more closed sales and higher median prices in December. The statewide median sales price for single-family existing homes in December was $244,185, up 8 percent from the previous year; and for condos was $180,000, up 7.8 percent from the year-ago figure. “The latest housing data shows that market activity in the final month of 2017 was remarkably normal. On a statewide basis, most of December’s housing metrics experienced similar year-over-year changes to those we saw the prior month,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “The only major exception to this is that Florida homes selling in December largely spent less time on the market compared to those which sold in December of 2016, most likely due to Hurricane Irma effectively shortening the calendar year.
USA: SUPPLY TRYING TO CATCH WITH DEMAND
Existing-home sales subsided in most of the country in December, but 2017 as a whole edged up 1.1 percent and ended up being the best year for sales in 11 years. Lawrence Yun, NAR chief economist, says the housing market performed remarkably well for the U.S. economy in 2017, with substantial wealth gains for homeowners and historically low distressed property sales. “Existing sales concluded the year on a softer note, but they were guided higher these last 12 months by a multi-year streak of exceptional job growth, which ignited buyer demand,” said Yun. “At the same time, market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable in a large swath of the country. These two factors ultimately muted what should have been a stronger sales pace.”
December Housing Snapshot
Shadow Wood Charitable Foundation Annual Fundraiser: February 15, 2018
For a list of live-auction items available at the annual Shadow Wood Charitable Foundation Fundraiser on February 15th, visit the Shadow Wood at the Brooks Facebook page.
Since the event is completely sold out, they are offering the opportunity to bid on Live Auction items to all residents of Shadow Wood regardless of their attendance at the event. If you would like to place a one-time bid on any of these items or submit a starting bid, increment bidding and a final bid for an item, please either ask a participant to bid for you or email Edward Young at email@example.com prior to February 14, 2018 at 5:00 p.m.He will then bid for you as per your instructions. If you are the successful bidder, you will be contacted on February 16, 2018 to submit payment for the item.
A Word from Downing-Frye Broker & General Manager Mike Hughes: A Big “Wow”
We are off to a tremendous start this year! This January, we had 328 pending sales contracts turned in to our Accounting department. This represents a 34% increase in pending sales for this January compared with last January. Let’s take a look at our pending sales for the last three Januarys: January 2018 – 328 contracts – $155 million in pending sales volume; January 2017 – 244 contracts – $139 million in pending sales volume; and, January 2016 – 218 contracts – $101 million in pending sales contracts. Wow !