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AUGUST 2018

It has been a hot and mostly sunny summer so far in Southwest Florida.  Most of the usually summer rains fell during late May, and weather conditions have been fairly boring during June and July.  It has been an excellent summer for the multitude of construction projects in process in Spanish Wells.

Work on replacing the old storm sewers is moving toward a conclusion, and along with improvements to some of the lake shorelines, should provide a more efficient water management system for the entire community.  The South and East golf courses are undergoing renovation of the golf greens, and these golf courses are expected to re-open in the fall.  Thanks largely to Hurricane Irma, many Spanish Wells homes are receiving new roofs and cages.  It has felt like we are living in a construction zone this summer.

Spanish Wells homes on the market are down to 30 compared to 36 a month ago.  With just over 2% of all Spanish Wells homes on the market, the inventory available to potential buyers is at a historically low level.  There were 3 closed sales in July and 9 homes were under contract and pending closing.

With total listings down significantly, if you are thinking of selling your home in the near future this may be a good time to list your home with The Boeglin Team.  Since 2003 our Team has been involved in about 25% of all Spanish Wells transactions, as all 4 members of the Team reside in the community.  Through hundreds of transaction and our long term involvement in the community, we have gained valuable experience and knowledge with regard to the Spanish Wells housing market.

Following are the neighborhood statistics for the Spanish Wells Community as of the end of July, 2018:

Single Family Homes in Original Spanish Wells

  • 14 homes listed (3% of 495 total) with prices ranging from $335,000 to $665,000
  • In the last 12 months 23 of these homes have sold for an average price of $456,630 or $187 per square foot 

Single Family Homes in Marbella

  • 3 home listed (3% of 86 total) with prices ranging from $345,000 to $525,000
  • In the last 12 months 4 of these homes sold for an average price of $471,250 or $191 per square foot 

Lake Club Villas

  • 2 homes listed (2% of 104 total) with prices ranging from $328,000 to $435,000
  • In the last 12 months 4 of these homes sold for an average price of $392,500 or $175 per square foot

Cordova (on MLS)

  • 2 home listed (2% of 128 total) with prices ranging from $$649,000 to $689,900
  • In the last 12 months 12 of these homes sold for an average price of $560,486 or $255 per square foot

Marbella Carriage and Coach Homes

  • 4 homes listed (2% of 208 total) with prices ranging from $199,500 to $262,000
  • In the last 12 months 11 of these homes sold for an average price of $251,636 or $141 per square foot

Marbella Three Story Condos

  • 3 homes listed (5% of 64 total) with prices ranging from $209,900 to $234,500
  • In the last 12 months 5 of these homes sold for an average price of $199,710 or $123 per square foot

Las Brisas Condos, Coach Homes, Villas, etc.

  • 2 homes listed (1% of 210 total) with prices ranging from $269,900 to $295,000
  • In the last 12 months 11 of these homes sold for an average price of $245,664 or $151 per square foot

Golf Condos/Townhouses

  • 0 homes listed (0% of 80 total)
  • In the last 12 months 8 of these homes sold for an average price of $189,738 or $140 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.