06 Oct Shadow Wood at the Brooks Real Estate News | October 2016
As of October 1, 2016, there are 51 active listings in Shadow Wood; 12 more than last month. There are 37 single-family, listed homes ranging from $510,000 to $2,250,000. The average list price is $1,027,003 and the average days on the market is 123 days. Combined days on the market is 163. In the condo market, there are 14 active listings in Shadow Wood. Ranging in price from $284,900 to $709,900. The average list price is $375,243 and the average days on the market is 113. Combined days on the market is 144.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 27 sales; the average sales price was $391,889; and, these condos were on the market an average of 44 days; combined days on the market is 112.
- During the 12 months previous, there were 23 sales; the average sales price was $332,730; and, these homes were on the market an average of 64 days; combined days on the market is 119.
- During the last 12 months, there were 46 sales; the average sales price was $982,552; these homes were on the market an average of 118 days; combined days on the market is 205.
- During the 12 months previous, there were 63 sales; the average sales price was $957,708; and, these homes were on the market an average of 84 days; combined days on the market is 176.
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Be sure to fill your calendar with 2016 events at Shadow Wood. Here is October’s event schedule:
October 14 – Welcome Home Celebration
October 21 – Oktoberfest Happy Hour
October 28 – Halloween Happy Hour
October 27 – Ladies Opening Day
October 29 – Men’s Opening Day
October 16 – Mixed Member/Member
Click here for membership information.
READY FOR SEASON
“August was a breath of fresh air,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Our Naples office closed transactions were up 4% over last August. We had 210 closings in the Naples office in August 2016 compared to 201 in August 2015. Our company inventory remains strong with just over 1,000 listings. The average pending sales price in August 2016 was $428,919.60. Last year, our average August pending sales price was $396,234.92. This represents about an 8% increase. We had 217 pending sales in August 2016. The big change in pending sales in August 2016 was in the market below $250,000. Last August, we had 121 pending sales in this price range. This August, we had 76 pending sales below $250,000.”
Florida’s housing market reported that August had more closed sales, higher median prices, more new listings and fewer all-cash closed sales. Closed sales of single-family homes statewide totaled 25,070, up 8.2 percent from August 2015. Sellers of existing single-family homes received 96.4 percent of their original listing price, while those selling townhouse-condo properties received 94.6 percent. The statewide median sales price for single-family existing homes was $225,000, up 12.6 percent from the previous year; and for townhouse-condo properties was $160,000, up 6.7 percent over the year ago figure. August’s inventory was at a 4.2-months’ supply for single-family homes and at 5.8-month for townhouse-condo properties.
BONITA /ESTERO: AUGUST 2016 VS. AUGUST 2015:
- Overall number of active listings: 875 vs. 602
- Overall closed sales: 130 vs. 142
- Single-family median sale price: $350,000 vs. $331,500
- Multi-family median sale price: $237,000 vs. $232,750
- August 2016 inventory: 5.9 months for single-family, 5.8 months for multi-family
- August 2016 percentage of list price for overall sales: approx. 95.25 percent
Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay. Total existing-home sales declined 0.9 percent to a seasonally adjusted annual rate of 5.33 million in August from a downwardly revised 5.38 million in July. After last month’s decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago (5.29 million). The median existing-home price for all housing types in August was $240,200, up 5.1 percent from August 2015 ($228,500) for the 54th consecutive month of year-over-year gains.
Total housing inventory at the end of August fell 3.3 percent to 2.04 million existing homes available for sale, and is now 10.1 percent lower than a year ago (2.27 million) and has declined year-over-year for 15 straight months. Unsold inventory is at a 4.6-month supply at the current sales pace, which is down from 4.7 months in July.
“It’s very concerning to see that inventory conditions not only show no signs of improving but have actually worsened in recent months from their already suppressed levels a year ago,” said Lawrence Yun, NAR chief economist. “While recent data from the U.S. Census Bureau shows that household incomes rose strongly last year, home prices are still outpacing incomes in many metro areas because of the persistent shortage of new and existing homes for sale. Without more supply, the U.S. home-ownership rate will remain near 50-year lows.”
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New Golf Carts Arrive at Shadow Wood