Bonita Lakes Real Estate Report! November 30, 2022
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Bonita Lakes Real Estate Report
Home Sale Activities at Bonita Lakes
Recent real estate sale activities are listed below. You can click on the addresses for complete MLS information for each of these properties.
23479 Sanabria Loop – NEW LISTING
- Waterfront
- Pool & spa
- Outdoor kitchen
- Built 2013
- 2570 sq ft
- Priced at $1,050,000 – $409 per sq ft
10509 Valencia Lakes – NEW LISTING
- Two-story home
- Waterfront
- Pool
- Built 2016
- 3218 sq ft
- Priced at $1,199,000 – $373 per sq ft
23064 Sanabria Loop – PRICE REDUCTION
- Three-car garage
- Pool & spa
- Built 2013
- 3122 sq ft
- Now priced at $1,079,999 – $346 per sq ft
- Initially listed at $1,199,000 on October 23, 2022
23056 Sanabria Loop – TERMINATED LISTING
- Two-story home
- Three-car garage
- Built 2015
- 4567 sq ft
- Priced at $1,798,999 – $392 per sq ft
- On the market 92 days
Please note: Source for above information is the Southwest Florida MLS, data made available at the time of the publication by MLS participating brokers. It is reliable but not guaranteed; it is to be used for informational purposes only, not as sales promotional material. Not all of the properties listed above were listed or sold by MVP Realty.
Hurricane Ian Impact on Real Estate Market
There is no doubt that hurricane Ian is having an impact on our local real estate market. Here are comments from real estate business leaders in the area:
- “Whether a homeowner decides to rebuild or sell a property damaged by Ian has a lot to do with location and circumstance. Some retirees with an older damaged home west of 41 are choosing to sell as is and buy elsewhere in Naples, typically more inland and with a higher elevation, while newer homeowners in the affected areas are choosing to invest in a rebuild.”
- “For every one homeowner that moves out of a neighborhood west of 41, there are two buyers looking to move in. We may see a short–lived variance occur within our market in the coming months as some discounting for homes with lower elevations may occur. But this also means there may be a premium set on those homes with a higher elevation.”
- “While we saw a slight increase in new listings by condominium owners who had damage and decided to sell instead of rebuild, the hurricane is not going to spark a ‘fire sale’ trend.”
- “This is a statement about the confidence of our market in the future. Many older homes that experienced severe flood damage during Ian are in desirable locations. And this is going to start a new building boom with higher quality product.”
- “Our current market has created many new opportunities for redevelopment that have caught the attention of a much broader spectrum of buyer. It is an environment created out of tragedy that will prove beneficial for the Naples area in the long run.”
Real Estate News
Naples Area Real Estate Market Report – Naples Area Board of REALTOR® (NABOR®) released the October Market Report. Here are a few interesting comments:
- A total of 525 listings were either terminated, expired, or withdrawn from the MLS during the month
- New listings were down 14% from October 2021
- Inventory increased 72.7% compared to a year ago
- The median closed price was same as September at $555,000
October 2022 compared to October 2021:
For details, trends, and year-to-date Naples area market statistics click here. Highlights from the October 2022 market report compared to October 2021:
Categories | October 2021 | October 2022 | Change |
---|---|---|---|
Total showings (month/month) | 33,578 | 18,654 | -44.0% |
Total closed sales (month/month) | 877 | 662 | -24.5% |
Total pending sales (homes under contract) (month/month) | 1,186 | 673 | -43.3% |
Median closed price (month/month) | $450,000 | $555,000 | 23.3% |
New listings (month/month) | 1,054 | 908 | -13.9% |
Total active listings (inventory) | 1,346 | 2,325 | 72.7% |
Average days on market | 24 | 41 | 70.8% |
Single-family closed sales month/month) | 442 | 323 | -26.9% |
Single-family median closed price (month/month) | $614,500 | $760,000 | 23.7% |
Single-family inventory | 874 | 1,502 | 71.9% |
Condominium closed sales (month/month) | 435 | 339 | -22.1% |
Condominium median closed price (month/month) | $370,000 | $439,000 | 1.6% |
Condominium inventory | 472 | 823 | 74.4% |
About Our Company
MVP Realty Associates, LLC – MVP Realty is a Naples based real estate company with agents and offices located throughout Florida:
- Exceeded $2.5 billion in home sales in 2021 and closed 8,000 transactions
- One of the largest real estate companies in Florida
- Top 1% in total sales transactions
- The #2 real estate company in SWFL
- More than 20 offices across Florida
- Over 1,200 agents who will help market your property to prospective Buyers
- Fastest growing real estate company in Florida the past eight years
- Brokers have 75+ years of broker experience
- Best agent training, technology and tools in the industry