04 Oct Shadow Wood at the Brooks Real Estate News | October 2017
As of October 1, 2017, there are 57 active listings in Shadow Wood; 6 less than last month. There are 40 single-family, listed homes ranging from $490,000 to $2,850,000. The average list price is $1,046,842 and the average days on the market is 136 days. Combined days on the market is 176. In the condo market, there are 17 active listings in Shadow Wood. Ranging in price from $284,900 to $599,000. The average list price is $405,976 and the average days on the market is 182. Combined days on the market is 222.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 21 sales; the average sales price was $398,571; and, these condos were on the market an average of 124 days; combined days on the market is 199.
- During the 12 months previous, there were 28 sales; the average sales price was $391,286; and, these homes were on the market an average of 47 days; combined days on the market is 114.
- During the 12 months previous, there were 48 sales; the average sales price was $927,968; and, these homes were on the market an average of 108 days; combined days on the market is 203.
- During the 12 months previous, there were 45 sales; the average sales price was $983,761; and, these homes were on the market an average of 117 days; combined days on the market is 204.
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Shadow Wood 2017 Tennis & Bocce Events
Be sure to fill your calendar with 2017 tennis and bocce events. Here’s 2017’s schedule:
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OCTOBER MARKET UPDATE
UP-AND-RUNNING – HEADING INTO HIGH SEASON
“We did not have much of a drop off in real estate activity after Irma,” said Mike Hughes,
General Manager for Downing-Frye Realty, Inc. “We had 23 contracts turned in during the first
three days after the storm. For that same period last year, we had 29 contracts. The reality
is that properties about to close may need new inspections, but our real estate professionals
help arrange for that. We’ll get over any hurdles. Overall, Naples fared very well.”
BONITA /ESTERO: MORE SALES THAN LAST YEAR
In August 2017, the Bonita Springs and Estero markets continued to experience typical decreases in pending units during the last of the summer months. Area experts are expecting a pickup for the fall and winter selling season quickly approaching. Post-storm inventory has not shown a large decrease specifically due to homes affected by Hurricane Irma. “Comparing inventory on August 31 with inventory as of September 22, we’re seeing just a 10 percent decrease,” stated Jerry Murphy, Managing Broker, Downing-Frye, Bonita Springs. “This decrease only represents homes indicated with a ‘withdrawn’ status, meaning these homes were withdrawn from an active status most likely due to a temporary situation.”
FLORIDA: AUGUST MEDIAN PRICES UP
Florida’s housing market continued its positive track in August, with more closed sales, increased pending sales, more new listings and rising median prices. Sales of single-family homes statewide totaled 25,235 in August, up 0.9 percent compared to August 2016. Florida’s townhouse-condo market statewide had 9,716 closed sales in August, up 2.6 percent compared to August 2016. The statewide median sales price for single-family existing homes in August was $240,000, up 6.7 percent from the previous year. The statewide median price for townhouse-condo properties was $170,000, up 6.3 percent over the year-ago figure. August marked the 69th consecutive month that statewide median prices for both sectors rose year-over-year. Inventory continued to tighten in August with a 3.8-months’ supply for single-family homes and a 5.4-months’ supply for townhouse-condo properties.
USA: PENDING SALES FALL
Pending home sales sank in August for the fifth time in six months, and slower activity in the areas hit hard by Hurricanes Harvey and Irma will likely pull existing sales for the year below the pace set in 2016. With little relief expected from the housing shortages that continue to plague several areas, Lawrence Yun, NAR chief economist, believes the housing market has essentially stalled. Further complicating any sales improvement in the months ahead is the fact that Hurricane Harvey’s damage to the Houston region contributed to the South’s decline in contract signings in August, and will likely continue to do so in the months ahead. Furthermore, the temporary pause in activity in Florida this month in the wake of Hurricane.
NFL SUNDAY GAMES AT THE BROOKS CLUBHOUSE
Join us at the Main Clubhouse this Sunday and each Sunday to watch the 1:00 p.m. NFL games at the Brooks Clubhouse. There will be food and drink specials available from 12:00 p.m. to 3:00 p.m. Sit back, relax, and cheer on your favorite NFL team at Shadow Wood!
A Word from Downing-Frye Broker & General Manager Mike Hughes: The Real Estate Market After Hurricane Irma
Since we returned to the office after IRMA, we have had twenty-three pending sales contracts turned in for the first three days. Last September for the same period, we had twenty-nine pending sales contracts turned in to our accounting department. Not much of a drop off. Ad Miller, a realtor who was an icon back in the sixties and seventies, used to say that Bonita sells itself. Ad was right. I would go a step further and say that Southwest Florida sells itself. Don’t let the hurricane get you down when it comes to real estate. It is amazing to me how well this area overall weathered the storm. As I look out my office window, you would not know that a hurricane was here roughly two weeks ago. Once again, Downing-Frye is leading the way.
Shadow Wood Season Opening Celebration: Havana Nights
Shadow Wood Country Club’s Season Opening Celebration is Oct. 18! This year’s theme that will kick off the 2017-2018 season is “Havana Nights.” This exciting evening will feature Latin cuisine, Cuban-inspired music and refreshing libations. Live entertainment provided by High Voltage Band, Salsa dancers and more. Come celebrate the music, culture, food, color and vibrancy of Cuba!