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December 2019 Spanish Wells Report

The 2019 housing market in Spanish Wells remains remarkably steady. Despite a low inventory of homes on the market much of the year, through November there have been 71 closed sales. This compares to 79 in 2018 and 76 in 2017 for the same 11 month period. Home prices have remained steady, with condos up about 5% year-to-year and single family homes remaining flat.

There were 8 closed sales during November and an additional 6 homes are under contract and pending sale. A total of 33 homes (including condos) remain on the market for sale, which represents about a 5 month inventory of homes for sale. Many real estate appraisers consider less than 6 months of inventory to be a “sellers’ market”.

In the second year of operation as community-owned Spanish Wells Country Club, activity has picked up considerably with some events open to non-member residents of the community. Improvements to the condition of the golf course have received positive feedback from golfing members and the “pay-to-play” public. Membership to the Club remains optional, with a menu of attractive and affordable memberships available.

With a relatively low inventory of homes available on the market, this would be an excellent time to list your home with The Boeglin Team. Jan and Jim formed The Boeglin Team more than 16 years ago, and our Team has been involved in about 25% of all Spanish Wells transactions during this time period. All 4 members of the Team reside in the community and are members of Spanish Wells Country Club. We are thoroughly familiar with the Spanish Wells housing market.

Following are the neighborhood statistics for the Spanish Wells Community as of the end of
November, 2019:

Single Family Homes in Original Spanish Wells

  • 14 homes listed (3% of 495 total) with prices ranging from $329,000 to $650,000
  • In the last 12 months 25 of these homes have sold for an average price of $436,640 or $187 per square foot

Single Family Homes in Marbella

  • 4 homes listed (5% of 86 total) with prices ranging from $474,900 to $549,000
  • In the last 12 months 5 of these homes sold for an average price of $389,500 or $179 per square foot

Lake Club Villas

  • 2 homes listed (2% of 104 total) with prices ranging from $500,000 to $549,000
  • In the last 12 months 5 of these homes sold for an average price of $404,600 or $176 per square foot

Cordova

  • 8 home listed (6% of 128 total) with prices ranging from $495,000 to $749,000
  • In the last 12 months 8 of these homes sold for an average price of $575,375 or $252 per square foot

Marbella Carriage and Coach Homes

  • 1 homes listed (1% of 192 total) priced at $225,000
  • In the last 12 months 17 of these homes sold for an average price of $255,700 or $147 per square foot

Marbella Three Story Condos

  • 3 homes listed (5% of 64 total) with prices ranging from $239,500 to $279,000
  • In the last 12 months 3 of these homes sold for an average price of $206,667 or $122 per square foot

Las Brisas Condos, Coach Homes, Villas, etc.

  • 3 homes listed (1% of 210 total) with prices ranging from $236,000 to $269,900
  • In the last 12 months 11 of these homes sold for an average price of $256,345 or $169 per square foot

Golf Condos/Townhouses

  • 1 homes listed (1% of 80 total) priced at $219,000
  • In the last 12 months 4 of these homes sold for an average price of $186,875 or $151 per square foot

Very few communities in Southwest Florida can match the location of Spanish Wells. Our community is located midway between Naples and Fort Myers, with easy access to world-class beaches, I-75, and the airport. We are surrounded by restaurants, grocery stores, drug stores, banks, storage facilities, medical and professional offices, golf courses, and retail shopping. Three gates provide easy access to Bonita Beach Road and Old 41.