01 Sep Shadow Wood at the Brooks Real Estate News | September 2020
As of September 1, 2020, there are 40 active listings in our area multiple listing service (MLS) in Shadow Wood; 3 less than last month. There are 31 single-family homes ranging in price from $510,000 to $1,925,000. The average list price is $1,062,519 and the average days on the market is 171. The combined days on the market is 259. In the condo market, there are 9 active listings in Shadow Wood, ranging in price from $254,000 to $575,000. The average list price is $423,633 and the average days on the market is 135. Combined days on the market is 242.
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SUMMARY OF SHADOW WOOD HOME SALES
SHADOW WOOD CONDOs
- Within the last 12 months, there were 30 sales; the average sales price was $355,777; and, these condos were on the market an average of 107 days; combined days on the market is 226.
- During the 12 months previous, there were 30 sales; the average sales price was $341,830; and, these homes were on the market an average of 109 days; combined days on the market is 201.
SINGLE-FAMILY SHADOW WOOD HOMES
- During the last 12 months, there were 46 sales; the average sales price was $855,509; and, these homes were on the market an average of 109 days; combined days on the market is 246.
- During the 12 months previous, there were 64 sales; the average sales price was $840,407 and, these homes were on the market an average of 104 days; combined days on the market is 217.
For a list of SHADOW WOOD homes sold in the last 12 months, click here.
For a list of SHADOW WOOD homes that are pending at the moment, click here.
September 2020 Market Update
SUMMER OF SURPRISES
“This was a busy summer,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “In June, July and August 2020, we had 31 percent more pending sales than last summer, and 74 percent more in sales volume. Our average closed sales price is now $576,830, with sales spanning all price ranges. Last August we had 960 properties available for sale, and this August we have 972. We’re listing properties quickly to keep up with buyer demand. Now that more people are able to work from home, they’re choosing to leave the cities and head south. There is high demand especially for single family homes. Fortunately, we have a great array of all types of homes. With virtual showings and tours, sales are expected to continue at the current intensity.”
BONITA /ESTERO: DEMAND HIGH FUELS SALES
Comparing this July with last July, the days on market decreased by 16.8 percent, as pending sales increased by 60.2 percent. New listings increased by 50.7 percent, but some brokers say the new inventory is still not enough to keep up with increasing buyer demand. Closed sales were up 0.4 percent and the median closed sales price of $293,500 was up 7.1 percent. The current inventory stands at 1,198 available properties, which is down 18.2 percent from last July, and represents 4.2 months supply.
FLORIDA: POSITIVE MOMENTUM
“New pending sales of single-family homes also showed big gains, up by 21.7 percent compared to July of last year,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “Coupled with the 23.2 percent year-over-year increase in new pending sales in June, all indications are that this wave of closed sales will continue on through the end of the summer and perhaps beyond. Year-to-date through July, statewide single-family existing home sales are only down by about 4 percent compared to last year – so it’s quite likely that by the end of August, we will be in positive territory overall for 2020.” The statewide median sales price for single-family existing homes was $295,000, up 10.1 percent from the previous year, and for condo-townhouse units was $210,000, up 11.7 percent. According to Freddie Mac, the interest rate for a 30- year fixed-rate mortgage averaged 3.02% in July 2020.
USA: SALES SOAR 24.7 PERCENT IN JULY
Existing-home sales continued on a strong, upward trajectory in July, marking two consecutive months of significant sales gains. Total existing-home sales jumped 24.7 percent from June to a seasonally-adjusted annual rate of 5.86 million in July. “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days,” said Lawrence Yun, NAR’s chief economist. “With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.” The median existing-home price for all housing types in July was $304,100, up 8.5 percent from July 2019 ($280,400). Total housing inventory at the end of July totaled 1.50 million units, down from both 2.6 percent in June and 21.1 percent from one year ago (1.90 million). Unsold inventory sits at a 3.1-month supply at the current sales pace, down from 3.9 months in June and down from the 4.2-month figure recorded in July 2019.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
At Shadow Wood Country Club, the health and safety of membership is a top priority. Staff are working hard to attempt to limit Club members’ and staffs’ exposure to the virus while continuing to provide members access to Club amenities.
Shadow Wood’s newest restaurant, the Golfside Grill, is offering prepared meals for curbside pick-up, Executive Chef Richard Crisanti and his team put together a menu of delicious meals to include both family-style and individual sizes. This curbside service is in-place for pickup of your prepared meals for you to enjoy in the comfort and safety of your own home! To view the to-go menu, click here. In addition to providing prepared meals, Shadow Wood is proud to offer their members a selection of items to purchase if there are necessities that we can assist them with to fill their pantry or fridge. To view the list of groceries available for member purchase, click here.
Visit the blog post to read more about how you can get involved as a Shadow Wood member: visit the blog here.
Why Chose Me as Your REALTOR®?To learn more about me and my real estate business, I encourage you read the About Ed section as well as the Testimonial section of the site. Over the years, my clients have expressed their satisfaction in my services and I’ve showcased their kind words so you can determine if I am the right REALTOR® to represent you.
If you are curious as to my sales success, visit my Sold Homes page. This gives a clear picture of exactly what I’ve accomplished and, more importantly, what I can accomplish for you.