What a difference a year makes! Our January 2011 Report talked about a 5-year long downhill slide in housing, and an "upside down" Spanish Wells Country Club that was in danger of foreclosure. It was a bleak outlook a year ago, but we expressed a positive attitude that things would improve in 2011. Did they ever!

Not only has new ownership of Spanish Wells Country Club resulted in major improvements to the golf course and facilities, it has attracted new members and a tremendous amount of activity in the community. Along with a steadily improving economy, sales of single family homes increased from 18 in 2010 to 47 in 2011, with prices holding steady at $164 per square foot. Condo sales increased from 20 to 31, although their average prices declined from $111 to $101 per square foot. The inventory of homes on the market is down almost 20% from a year ago.

As more and more Realtors are again feeling comfortable in showing Spanish Wells homes to their buyers, we saw evidence that the pace of sales and average sale prices of Spanish Wells single family homes were on the rise in the 3^rd and 4^th quarters of the year. For the first time since the housing bubble burst, we had 4 homes in the community sell for in excess of $500,000. Condo prices have appeared to stabilize, as much of the "distress inventory" has been sold or is under contract. This all bodes well for a strong housing market in 2012.

There were 6 closed sales in Spanish Wells reported on Sunshine MLS for the month of December-4 single family homes and 2 condos. We represent one buyer and one seller. There are an additional 12 homes under contract and awaiting closing as of the end of December. The Boeglin Team represents 7 of the parties involved in these pending transactions.

With the number of our listings having sold or currently under contract, the Boeglin Team is in need of homes to list. If you or someone you know is considering the sale of a home, please contact one of us to schedule an appointment.

Here are the neighborhood specifics within Spanish Wells as of the end of December:

Single Family Homes in Original Spanish Wells - 26 listed (5% of 495 total)

• Prices ranging from $225,000 to $699,999
• Average price is $420,607 or $174 per square foot
• In the past 12 months, 36 of these homes sold for an average of $372,609 or $165 per square foot

Single Family Homes in Marbella - 7 listed (8% of 86 total)

• Prices ranging from $339,000 to $575,000
• Average price is $410,986 or $171 per square foot
• In the past 12 months, 6 of these homes sold for an average of $382,500 or $162 per square foot

Lake Club Villas - 4 listed (4% of 104 total)

• Prices ranging from $295,000 to $374,900
• Average price is $332,925 or $141 per square foot
• In the past 12 months, 5 of these homes sold for an average of $269,531 or $136 per square foot

Marbella Carriage and Coach Homes - 15 listed (7% of 208 total)

• Prices ranging from $139,000 to $289,000
• Average price is $197,994 or $112 per square foot
• In the past 12 months, 9 of these homes sold for an average of $191,722 or $114 per square foot

Marbella Three Story Condos - 5 listed (10% of 48 total)

• Prices ranging from $179,000 to $219,999
• Average price is $200,778 or $108 per square foot
• In the past 12 months, 10 of these homes sold for an average of $132,690 or $85 per square foot

Las Brisas Condos, Coach Homes, Villas, etc. - 18 listed (9% of 210 total)

• Prices ranging from $150,000 to $344,000
• Average price is $217,244 or $124 per square foot
• In the past 12 months, 9 of these homes sold for an average of $186,989 or $114 per square foot

Golf Condos/Townhouses - 7 listed (9% of 80 total)

• Prices ranging from $136,900 to $229,900
• Average price is $159,943 or $115 per square foot
• In the past 12 months, 3 of these homes sold for an average of $109,000 or $84 per square foot

If you are a Realtor who may have buyers interested in Spanish Wells, please give us a call or stop by the Club for current golf options for your buyers. Whether you are a homeowner needing to list your home, or a buyer looking to find the right home in Southwest Florida, let the energy, local knowledge and experience of the Boeglin Team (backed by the international presence and internet resources of Coldwell Banker) work for you.