NAPLES, Fla. (April 27, 2012) – Southwest Florida’s luxury real estate market is on a winning course thanks to an upswing in luxury condominium sales at the luxurious Tavira at Bonita Bay, where 19 condominium residences have sold this year, totaling $31.3 million. With sales rebounding sharply, more than 50 percent of the tower within one of Southwest Florida’s most prestigious golf communities is already sold out, including a whopping four sales in just one weekend in March.
“There’s no question that confidence is back, inventories are decreasing and buyers are motivated because they sense the market in premier locations has returned. Prices that were adjusted to reflect the current market, as well as incentives being offered such as custom flooring and background packages, are helping fuel the trend,” said Judy Green, President and CEO of Premier Sotheby’s International Realty, the leading luxury real estate brokerage in Southwest Florida that enjoys the largest market share of properties sold for more than $1 million.
The data supports the trend. According to the Naples Area Board of Realtors, pending sales of luxury homes and condos above $500,000 increased 29 percent last month year over year. Inventory numbers indicate a dramatic decline of supply by 13 percent from the first quarter of 2011 to the first quarter 2012.
Tavira is the sixth high-rise in Bonita Bay developed by The Lutgert Companies, which has developed nearly two-dozen luxury high-rises in Southwest Florida. With sweeping views of Estero Bay and the Gulf of Mexico, the 26-story residential tower has unique appointments such as private elevator lobbies, gas fireplaces in the great rooms, and summer kitchens, complete with electric grills and sinks on screened terraces. The estate-sized residences offer up to 4,100 square feet of living area.
The property has the conveniences and luxuries of a five-star resort with a heated, resort-style pool, oversized whirlpool and an outdoor bar and fireplace within a screened cabana. Indoor amenities include a clubroom with a bar and catering kitchen, a 10-seat theater, card and game rooms, a health club with a fully-equipped fitness center, an indoor golf simulator, steam and massage rooms, two designer-furnished suites for overnight guests and a manager in residence, distinguish Tavira from other high-end towers.
A nature lovers haven, more than 1,400 acres of the 2,400-acre Bonita Bay community are devoted to open space, including lakes, nature preserve areas and 12 miles of biking and walking paths. Three waterfront recreational areas and a private beach park on the Gulf of Mexico add to its appeal.
Residents are eligible for membership in the member-owned Bonita Bay Club, which features two clubhouses, an 18-court tennis center, fitness center, and 90 holes of championship golf. Golf enthusiasts can enjoy three Arthur Hills-designed courses within the community and two Tom Fazio courses, providing a pure golf experience nearby. Bonita Bay is consistently included among Travel + Leisure Golf’s “Top 100 Golf Communities in America.”
“The momentum in Southwest Florida real estate is clearly escalating and we anticipate seeing continued movement of inventory based on current market confidence, especially with this month’s strong results,” added Todd Kendall, Director of Sales for the Lutgert Companies.
To learn more, visit http://www.BonitaBayHighRises.com or call 239-495-1105. The Sales Center is located at the entrance to Bonita Bay on U.S. 41 in Bonita Springs.
# # #