Even as Hurricane Dorian bears down on Florida this Labor Day weekend, the housing market is showing signs of waking from its summer siesta. With only 16 single family homes and 8 condos on the market in all of Spanish Wells, the supply of homes for sale are near historic lows. Less than 2% of the homes in Spanish Wells are currently on the market for sale.
During the sleepy months of July and August, there were 9 closed sales and 8 more pending at the end of August. The market activity this summer suggests we may be in for an active real estate market during the upcoming season. For that to happen, we will need to add new listings to the current inventory. If you or someone you know is considering placing a home on the market, please contact a member of the Boeglin Team for a market analysis.
A special thanks to our readers for the positive feedback we received from our 4-part series on “The Community that Saved Itself”, a history of Spanish Wells over the past 40 years. If you missed the series and would like to read it, please send Jan a text or e-mail and she will forward the entire series. It is also posted on our website, here: www.boeglinteam.com
Following are the neighborhood statistics for the Spanish Wells Community as of the end of August, 2019:
Single Family Homes in Original Spanish Wells
- 12 homes listed (2% of 495 total) with prices ranging from $385,000 to $699,000
- In the last 12 months 33 of these homes have sold for an average price of $453,811 or $191 per square foot
Single Family Homes in Marbella
- 3 home listed (3% of 86 total) with prices ranging from $347,000 to $510,000
- In the last 12 months 7 of these homes sold for an average price of $430,643 or $186 per square foot
Lake Club Villas
- 0 homes listed (0% of 104 total)
- In the last 12 months 6 of these homes sold for an average price of $399,650 or $170 per square foot
Cordova (on MLS)
- 6 home listed (5% of 128 total) with prices ranging from $485,000 to $714,999
- In the last 12 months 2 of these homes sold for an average price of $570,000 or $272 per square foot
Marbella Carriage and Coach Homes
- 2 homes listed (1% of 192 total) with prices ranging from $244,900 to $275,000
- In the last 12 months 16 of these homes sold for an average price of $250,244 or $144 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 5 of these homes sold for an average price of $204,210 or $125 per square foot
Las Brisas Condos, Coach Homes, Villas, etc.
- 5 homes listed (2% of 210 total) with prices ranging from $217,000 to $289,000
- In the last 12 months 8 of these homes sold for an average price of $230,375 or $157 per square foot
- 4 homes listed (5% of 80 total) with prices ranging from $150,000 to $225,000
- In the last 12 months 3 of these homes sold for an average price of $184,833 or $156 per square foot
Very few communities in Southwest Florida can match the location of Spanish Wells. Almost all new home construction in our area is located inland, well away from the Gulf and its ocean breezes. Our community is located close to several 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.