19 Sep Shadow Wood at the Brooks Real Estate News | September 2017
As of September 1, 2017, there are 51 active listings in Shadow Wood; 5 less than last month. There are 36 single-family, listed homes ranging from $505,000 to $2,850,000. The average list price is $1,053,600 and the average days on the market is 137 days. Combined days on the market is 187. In the condo market, there are 15 active listings in Shadow Wood. Ranging in price from $284,900 to $599,000. The average list price is $416,787 and the average days on the market is 187. Combined days on the market is 221.
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SUMMARY OF SHADOW WOOD HOME SALES
- Within the last 12 months, there were 21 sales; the average sales price was $387,500; and, these condos were on the market an average of 128 days; combined days on the market is 200.
- During the 12 months previous, there were 28 sales; the average sales price was $388,429; and, these homes were on the market an average of 43 days; combined days on the market is 110.
- During the 12 months previous, there were 45 sales; the average sales price was $991,632; and, these homes were on the market an average of 110 days; combined days on the market is 199.
- During the 12 months previous, there were 46 sales; the average sales price was $1,002,587; and, these homes were on the market an average of 108 days; combined days on the market is 184.
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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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SEPTEMBER MARKET UPDATE
SALES GOOD – INVENTORY GOOD
“We hit two milestones in August,” said Mike Hughes, General Manager for Downing-FryeRealty, Inc. “We now have over 2,000 closings for the year, and we hit the one billion dollar mark in closed sales volume. While it has been a bit challenging this year, we are carving out another solid year for sales. We should close 2017 with over 3,000 closings. One key is our solid listing inventory of over 1,000 available properties. We continue to carry one of the largest listing inventories in Southwest Florida.”
BONITA /ESTERO: MORE SALES THAN LAST YEAR
Pending units have increased overall by 10 percent in the 12-month ending July 2017 vs. July 2016. “The 12-month year over year increase in pending units is most likely due to the number of price decreases we saw in July 2017,” stated Jerry Murphy, Managing Broker, Downing-Frye. “Those price decreases are now producing offers.” In July 2017, there were 260 price reductions in the Bonita Springs and Estero markets. For the 12 months ending July 2017 there were 3,118 pending sales, 3,086 closed sales and an inventory of 1,440 units, representing a 6.8 month supply. The median closed sales price was $295,000.
FLORIDA: HOT WEATHER – HOT SALES
Just like the weather, Florida’s housing market was hot in July with more closed sales, higher median prices, increased pending sales and more new listings. The statewide median sales price for single-family existing homes in July was $240,000, up 7.1 percent from the previous year, and the statewide median price for townhouse-condo properties was $170,950, up 6.8 percent over the year-ago figure. The statewide closed sales of townhouse-condos totaled 9,246 in July, up 3.6 percent compared to July 2016. Closed sales data reflected fewer short sales and foreclosures last month: Short sales for townhouse-condo properties declined 39.7 percent and foreclosures fell 47.7 percent year-to-year; short sales for single-family homes dropped 40.2 percent and foreclosures fell 44.2 percent year-to-year. Inventory remained tight in July with a 3.9-months’ supply for single-family homes and a 5.6-months’ supply for townhouse-condo properties.
USA: EXISTING HOME SALES SLIDE A BIT
Lawrence Yun, NAR chief economist, says the second half of the year got off on a somewhat sour note as existing sales in July inched backward. “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace,” he said. “Contract activity has mostly trended downward since February and ultimately put a large dent on closings last month.” The median existing-home price for all housing types in July was $258,300, up 6.2 percent from July 2016 ($243,200). July’s price increase marks the 65th straight month of year-over-year gains.
Shadow Wood Country Club Chef Featured in YMCA’s Beyond the Plate Series
On August 28, Chef Richard Crisanti of Shadow Wood Country Club prepared a Miso Chilean Sea Bass with roasted Japanese sweet potatoes and asparagus as part of an instructional cooking program hosted by the Naples YMCA. Earlier this year, Chef Crisanti (CEC, CCA, ACE) won the American Culinary Federation’s Presidential Medallion at its national “Cook. Craft. Create.” convention in Orlando. This award is the highest honor that a chef can receive through the ACF Chefs.
A Word from Downing-Frye Broker & General Manager, Mike Hughes
We have now closed over 2,000 transactional sides for the year and reach $1-billion in sales already this year. It’s been a little bit bumpy but the trend line looks good for a better year this year than last year.
Regarding local Hurricane Harvey relief efforts, Downing-Frye Realty will send more than 5,000 items to those affected by the hurricane.