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March 2020 Spanish Wells Report

Because 8 homes closed in February and another 12 are under contract, the inventory of available homes for sale in Spanish Wells has dropped dramatically to a total of 32, including both single family homes and condos. This inventory represents just over 2% of all the homes in our community. Condos are in particularly short supply, with only 8 of them currently for sale—5 in Marbella and 3 in Las Brisas.

The housing market has not been the only hot item in Spanish Wells. The golf course has been experiencing about 350 golfers per day, of which about 70% are non-members who are paying green fees to play Spanish Wells Country Club. Members have first choice on tee times, and the remaining available tee times are open to the public for a greens fee. The golf courses are busy throughout the daylight hours during this time of year.

The community remains “unbundled” giving residents the freedom to choose whether or not to join the Club, with an array of available membership options. Rumor has it that pickle ball courts will be added shortly, giving members one more sporting option. The expansive golf course views benefit all residents, whether or not they are members. The Country Club is owned by all of the residents, and non-member residents are invited to some Club events.

This would be an excellent time to list your home with The Boeglin Team. Jan and Jim formed The Boeglin Team almost 17 years ago, and our Team has been involved in a significant share of all Spanish Wells transactions during this time period. All 4 members of the Team reside in the community. 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 February, 2019:

Single Family Homes in Original Spanish Wells
• 14 homes listed (3% of 495 total) with prices ranging from $329,500 to $650,000
• In the last 12 months 25 of these homes have sold for an average price of $445,380 or $189 per square foot

Single Family Homes in Marbella
• 1 home listed (1% of 86 total) for $480,000
• In the last 12 months 4 of these homes sold for an average price of $380,625 or $173 per square foot

Lake Club Villas
• 3 homes listed (3% of 104 total) with prices ranging from $439,000 to $529,000
• In the last 12 months 3 of these homes sold for an average price of $463,000 or $182 per square foot

Cordova
• 6 home listed (5% of 128 total) with prices ranging from $475,000 to $639,500
• In the last 12 months 10 of these homes sold for an average price of $578,050 or $254 per square foot

Marbella Carriage and Coach Homes
• 3 homes listed (2% of 192 total) with prices ranging from $224,500 to $299,900
• In the last 12 months 15 of these homes sold for an average price of $2255,027 or $145 per square foot

Marbella Three Story Condos
• 2 homes listed (3% of 64 total) with prices ranging from $237,500 to $289,000
• In the last 12 months 2 of these homes sold for an average price of $244,500 or $120 per square foot

Las Brisas Condos, Coach Homes, Villas, etc.
• 3 homes listed (1% of 210 total) with prices ranging from $264,900 to $309,000
• In the last 12 months 12 of these homes sold for an average price of $252,567 or $168 per square foot

Golf Condos/Townhouses
• 0 homes listed (0% of 80 total)
• In the last 12 months 5 of these homes sold for an average price of $186,500 or $142 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, close 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.