01 Sep Shadow Wood at the Brooks Real Estate News | September 2021

Posted at 08:01h in Ed Gongola, Real Estate News, Shadow Wood at the Brooks by Eric Sommerton

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As of September 1, 2021, there are 4 active listings in our area multiple listing service (MLS) in Shadow Wood. That is three more than last month.

For comparison, last year on September 1, there were 40 listings in Shadow Wood.

There are two, single-family homes on the market ranging from $1,899,000 to $2,595,000 with an average list price of $2,247,000; these have an an average of 12 days on the market and 12 total days on the market. In the condo market, there are 2 active listings ranging from $570,000 to $635,000 with an average list price of $602,500; these have an average of 16 days on the market and an average of 16 total days on the market.

A reminder, you have access to the most comprehensive website devoted to Shadow Wood, www.ShadowWoodRealty.com. I’ve included maps, floor plans, photos, and descriptions of each neighborhood within this desirable community.

Please contact me for all your real estate needs in Shadow Wood. With over 35 years of helping buyers and sellers in SWFL, my experience will be invaluable in this fast-moving, low-inventory market.

Your Shadow Wood REALTOR®,
Ed Gongola

Summary of Shadow Wood Home Sales

If you are considering selling your Shadow Wood home, here are some statistics that may help you decide to place your home on the market.

SHADOW WOOD CONDOs

Within the last 12 months, there were 41 sales; the average sales price was $413,176; and, these condos were on the market an average of 57 days; combined days on the market is 129.

During the 12 months previous, there were 31 sales; the average sales price was $360,752; and, these homes were on the market an average of 103 days; combined days on the market is 221.

SINGLE-FAMILY SHADOW WOOD HOMES

During the last 12 months, there were 77 sales; the average sales price was $1,047,189; and, these homes were on the market an average of 87 days; combined days on the market is 201.

During the 12 months previous, there were 48 sales; the average sales price was $856,842 and, these homes were on the market an average of 110 days; combined days on the market is 244.

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.

Meet Ed Gongola and discover how he can help you with his concierge-style of service when buying or selling your home.

Make An Appointment

September 2021 Market Update

A ROBUST AUGUST

“Over the last 16 years, our best August for the high end market (above $1 Million) had been 23 pending sales,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “This August, we had 50 pending sales above $1 Million – more than double our previous best! We pended 279 transactions in August 2021 for a pending sales volume of $197 million, which is extremely high for this month. Interesting enough was that we had 279 pending sales in August where in July we had 235 pending sales. So with a largely declining inventory in our area, we actually increased our pending sales from the previous month. Through the first eight months of the year, we have 2,861 closed transactional sides – almost what we did in all twelve months of last year. We will hit $2 BILLION in closed sales volume sometime in September. Despite the challenges of the pandemic, our agents continue to produce at a very high level.”

BONITA / ESTERO: DEMAND IS STEADY

July’s activity showed decreases in inventory while demand was steady. Additionally, homes priced above $2 million were still seeing strong demand. In July 2021, Realtor.com showed 23 million+ property search results page views for the Bonita Springs and Estero combined markets. This number has changed slightly over the last quarter, but overall, interest from the Northeast and Midwest regions of the U.S. still continue to dominate the majority of users looking at Bonita Springs and Estero. In comparing July 2021 with July 2020, new listings (273) were down 19.9 percent, pending sales were even at 303 pending sales, and closed sales (341) were up 17.2 percent. July’s median closed sales price was $421,000, which was 43.4 percent more than July 2020. Also in July there were only 241 active listings, representing .6 months’ supply of inventory. Properties stayed on the market for an average of 22 days. In comparing 2021 year-to-date with 2020 year-to-date, there was no change in the amount of new listings, but pending sales were up 49.1 percent, closed sales were up 62.8 percent and the median closed sales price was up 18.2 percent.

NAPLES AREA: BUYERS & SELLERS ADJUST TO A NEW NORMAL

The buying frenzy the Naples housing market experienced during the past year has simmered and is being replaced with what brokers say will be our new normal: a low inventory market with fast turnover of quality homes priced right. The median closed price in July increased 28.8 percent to $469,950 from $365,000 in July 2020. Even though overall pending sales in July dropped 21.5 percent to 1,135 pending sales from 1,446 pending sales in July 2020, and overall closed sales dropped 2.6 percent to 1,142 closed sales from 1,172 closed sales in July 2020, activity in the high-end luxury home market picked up speed during the month as reflected in a 32.6 percent increase in closed sales for homes over $1 million, and a 17.1 percent increase in pending sales for single family homes valued over $1 million in July.

MARCO ISLAND AREA: SALES & INVENTORY ARE DOWN

The Marco Island Area Assoc. of Realtors® reported that July 2021 compared to July 2020 showed the following: Total inventory (228 properties) was down by 80.2 percent, closed sales (165 properties) were down by 9.3 percent and pending sales (135 properties) were down by 30.8 percent. The July median sales price was $640,000, which is 43.02 percent higher than July 2020.

FLORIDA: NEW LISTINGS RISE IN JULY

In July, Florida’s housing market reported higher median prices, more new listings and a rise in all-cash sales compared to a year ago. Closed sales of single-family homes statewide in July totaled 30,740, a slight decrease of 2.1 percent year-over-year, while existing condo/townhouse sales totaled 13,481, up 21.1 percent over July 2020. The statewide median sales price for single-family existing homes in July was $355,000, up 20.3 percent from the previous year. According to Florida Realtors Chief Economist Dr. Brad O’Connor, the data revealed signs that the state’s housing market is heading on a steady path toward normalcy, at least in some respects. On the supply side of the market, inventory (active listings) remained extremely tight in July. Single-family existing homes continued at a very low 1.2-months’ supply while condo-townhouse inventory was at a 1.8-months’ supply.

USA: PENDING SALES DOWN SLIGHTLY

Pending home sales dipped modestly in July, noting two consecutive months of declines. Only the West region registered a month-over-month gain in contract activity, while the other three major U.S. regions reported drops. All four regions saw transactions decrease year-over-year. “The market may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers,” said Lawrence Yun, NAR’s chief economist. “That said, inventory is slowly increasing and home shoppers should begin to see more options in the coming months.”

Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.

Homebuyers Flock to Florida Real Estate

In July 2020, 2,216 Redfin users moved to Miami; in July 2021, the number grew to 7,610. Some moved because they could work from home, some to escape lockdowns.

SEATTLE – According to Redfin’s monthly migration report, July saw the net inflow of Redfin users moving to Miami rise to 7,610 from 2,216 last year. Despite the potential increase in flood risks and coastal storms, Florida remains a top spot for buyers.

“Home buyers are moving here from all over the map – Atlanta, Cincinnati, New York, Columbia, Mexico City, Pittsburgh and Philly, to name a few,” says Milagros Alvarez, a Miami real estate agent at Redfin. “The beaches, warm weather and low taxes are the major draws. Florida has also been much less shut down than other states during the pandemic, which some house hunters see as a positive.”

Tampa and Cape Coral are also hot areas for migration, with net inflows rising to 4,315 from 2,778 in July 2020, and to 3,109 from 1,790, respectively, according to Redfin’s analysis.

“The homebuyers I talk to rarely mention climate change,” says Alvarez. “Most of them aren’t concerned. A lot of people seem to have this idea that it won’t impact them in their lifetime, so it doesn’t need to be a consideration when buying a home.”

However, Daryl Fairweather, Redfin’s chief economist, suggested that buyers should at least keep climate change in mind, saying, “Miami homebuyers should think about how they can make their homes more resilient to climate change and how their finances would be impacted if their homes lost value.”

Source: HousingWire (08/30/21) Volkova, Maria