The real estate statistics for the Pelican Bay Third Quarter 2009 are out.  Let's take a look how the Third Quarter 2009 statistics compared to the Third Quarter 2008 statistics.

Please remember that where ever you see highlighted text in this entry, you can click on the highlighted text and be taken to more information.

LOW RISES - The good news is that the number of closed sales went from 13 in the 3rd quarter of 2008 to 27 during the same period in 2009.  The percentage of units that failed to sale dropped from 65% in the 3rd quarter 2008 to 52% in the 3rd quarter of 2009.  The average price of a unit that fails to sell is $587,720.00 in 2009.  The number of days on the market fell to 214 days from 294 days. The not so good news is that the average price fell 4.95% to $442,426.00.  Of the 27 closed sales made in the 3rd quarter of 2009, 12 of them were under $399,999.00.  10 of these 27 closed sales were two bedroom units with an average selling price of $348,500.00.  There were no closed sales of any units over $699,999.00.

MID RISES - Closed sales increased to 4 closed sales in the 3rd quarter of 2009 in comparison to only 2 closed sales in the third quarter of 2009.  The average sold price decreased 24.43% in the comparable time frames.  Market time has increased to 237 days from 196 days.  The average price of a unit that fails to sell is $726,333.00 in 2009.  The percentage of units that fail to sell is still holding at 60%.

HIGH RISES - Closed sales decreased to 16 sales in the 3rd quarter of 2009 in comparison to 22 sales in the 3rd quarter of 2008.  The average sales price decreased 16.15% to $1,136,031.00 in the same time frame.  The average price of a unit that fails to sell is $2,020,150.00 in 2009 up from $1,557,136.00 in 2008.  Not surprisingly the days on the market has increased in 2009 to 277 days from 192 days in 2008.  In the 3rd quarter of 2009, 56% of all high rise units failed to sell, up from 50% in the same time frame in 2008.

ATTACHED VILLAS- Closed sales decreased to 2 sales in the 3rd quarter of 2009 from 4 sales in the 3rd quarter of 2008.
The average sales price decreased 25.14%.  The average price of an attached villa that failed to sell in the 3rd quarter of 2009 was $1,055,500.00 .  75% of all attached villas listed failed to sell in the 3rd quarter of 2009.

DETACHED VILLAS- Closed sales stayed the same as the 3rd quarter of 2008 at 2 closed sales.  The number of listings that failed to sell rose from 2 to 5 listings. 

SINGLE FAMILY HOMES- Closed sales increased to 7 in the 3rd quarter of 2009 from 6 closed sales in the 3rd quarter of 2008.  The percentage of single family homes that failed to sell rose to 67% from 45%. 

As of November 13, 2009 there were 348 listings for sale in Pelican Bay.  There have been 202 closed sales since January 1, 2009.  This means that 17.56 units sell per month in Pelican Bay, which leaves us with an inventory of properties that would last 19.8 months. 

Of the 202 closed sales since the beginning of this year, 92 of them were under $599,999.00.  24 of these 202 sales were between $1,000,000.00 - $1,499,999.00.  30 of these 202 sales were between $1,500,000.00 - $2,999,999.00. 

With season just around the corner, you may be thinking of putting your Pelican Bay home on the market.  I would caution you that if you do not really have to sell, DO NOT put your home on the market.  This market is still a price driven market.  Unless you are willing to place your home on the market at market price it will not sell.  There is a great article in the St. Petersburg Times that discusses the market and pricing a home to sell.  If you are thinking of selling this season, you may want to take a moment to read this article.

What's happening in the real estate market outside of Pelican Bay?  Here are the October 2009 statistics for the Naples Florida area.  42% of the Naples market is being driven by the under $300,000.00 market. Based on these statistics, the overall Naples market has an inventory of properties that could last 14.19 months.  The market under $300,000.00 has an inventory that could last 9.56 months.

If you are in town for Thanksgiving and wish to have Thanksgiving dinner down at the beach, it would be a good idea to call the Sandpiper 239-592-5722 to make reservations.  For those of you who wish to have dinner at your home but do not want to cook, both Publix and Whole Foods offer turkey dinners that just need to be heated before serving.

To all my Pelican Bay Blog readers, I'd like to say that where ever you are this Thanksgiving it is my wish that you are surrounded by people you wish to be with and that you are able to enjoy the holiday!

Are you a member of Facebook?  Login in or sign up and join the Pelican Bay in Naples, Florida a Beach Neighborhood Group on Facebook.  Feel free to posts photos, videos and experiences about Pelican Bay. Start discussions on items of importance to you about our community. 

Should you be thinking of selling your home in Pelican Bay and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Would you like to own home in our unique beach community?  Search here, once at the search page, you can search by development, save your search and new listing updates will be e-mailed to you.

Care to share a comment about this blog entry?  Just click on the Add Comment link at the bottom of this blog entry.  Comments are always welcome. 

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay.  Her 31 years of real estate experience and her area expertise have been valuable resources for Pelican Bay Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

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Pelican Bay Second Quarter 2009 Home Sale Statistics

Are you curious as to what Pelican Bay sales prices were from the second quarter of 2008 to the second quarter of 2009?  Have Pelican Bay Prices gone up, down or stayed the same?  Let's take a look at the statistics to find out.

PLEASE REMEMBER THAT WHERE EVER YOU SEE A HIGH LIGHTED TEXT YOU CAN CLICK ON IT TO BE TAKEN TO MORE INFORMATION.

LOW RISES- Median prices decreased 7.31% and average prices decreased 16.16%.  Closed sales were down from 30 in 2008 to 26 in 2009.  Ten of those twenty-six closed sales were under $399,999.00.  The difference between what a unit was listed and what it sold for rose from 9.83% to 10.88%.  Days on market for closed sales rose from 251 days in 2008 to 263 days in 2009.  While 58% of all low rise listings failed to sell in 2008, 44% failed to sell in 2009.

MID RISES - Both median and average sales prices decreased from the 2nd quarter of 2008 to the 2nd quarter of 2009.  The list to sale differential is up to 12.53% from 6.85%.  72% of all mid rises are failing to sell in 2009, while 56% failed to sell in 2008. Marketing time has increased from 160 days to 339 days.

High Rises - Median and average sales prices both showed a decrease.  Closed sales were up to 23 from 21 closed sales. 7 of the 23 closed sales were between $1,000,000.00 - $1,499,999.00.  In 2008 69% of all high rises failed to sell, while in 2009 the unsold high rises rose to 74%.  List to sale differential rose from 7.02% in 2008 to 11.94% in 2009. Market time has decreased from 293 days to 149 days.

SINGLE FAMILY- Closed sales are up from the 7 in 2008 to 9 in 2009. Both median and average sale prices are down.  List to sale differential went from 11.24% in 2008 down to 10.06% in 2009.  In 2008 57% of all single family homes failed to sell, while in 2009 36% failed to sell.  Marketing time has decreased from 345 days to 159 days.

ATTACHED VILLAS- Closed sales are up from 8 in 2008 to 11 in 2009.  Both median and average sale prices are down.  The list to sale differential rose from 6.69% in 2008 to 8.25% in 2009.  In 2008 43% of all attached villas failed to sell, while in w009, 31% failed to sell.  Market time has increased from 169 days to 222 days.

DETACHED VILLAS - The list to sale differential went from 8.50% in 2008 to 11.19% in 2009. Both average and median sale prices are down. Market time has increased from 216 days to 285 days. In 2008 50% of all Detached Villas failed to sell, while in 2009 21% failed to sell. 

What do all these number and percentages mean?  While the number of unsold listings is decreasing, the marketing time and list to sale differential is increasing in certain categories. It looks as if properties in Pelican Bay may still come down a bit in price.

When you next arrive in Pelican Bay and drive to the North tram station, be aware that the entry to the tram stop has been changed. The old entry is no longer there. A new entry is just North of the old one. Trams will no longer be in the paths of cars entering the parking lot. 

New Entry Way into North Tram Parking North of old entry

Cars won't be able to enter into the Tram turn around

North Tram Stop Turn Around Area

Landscaping Blocks Former Automobile Entry

Why spend the summer in Pelican Bay?  If you are beach enthusiasts, such as my husband and I, you will find warm Gulf waters to swim.  If you are looking to own or move up in Pelican Bay, you will find a great selection of properties to view. Let's take a look at what has been occurring in the Pelican Bay real estate market from January 01 - May 27, 2009.

The low rise market continues to be driven by sales under $500,000.00. Out of the 26 low rise closed sales, 18 of those sales were under $500,000.00.  The high rise market is seeing sales of over 1 million.  Of the 32 high rise closed sales, 18 of these sales were over 1 million dollars.

If you are in town and do not feel as if you want to cook, you might want to enjoy a delicious meal at tasty Naples Tomato by clicking on this special discount!

Did you miss the Memorial Day BBQ at the Sandpiper Beach this year for Pelican Bay members?  I enjoyed the BBQ with my husband, Don.  We were seated around 2:30 PM.  It did not seem as busy as last year.  People did come out to eat and enjoy the beach.

If you are planning on being in Naples on June 13th, there is a free summer jazz concert that will be held on the lawn overlooking the Gulf of Mexico at the Naples Beach Hotel from 7:00 - 10:00 PM.  Alan Darcy will be playing on June 13th.  Bring your lawn chair and you can enjoy jazz and if you are lucky, a spectacular sunset!

Should you be thinking of selling your home in Pelican Bay and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Looking for a home in our unique beach community?  Search here, once at the search page, you can search by development, save your search and new listing updates will be e-mailed to you.

Care to share a comment about living in Pelican Bay with us?  Just click on the Add Comment link at the bottom of this blog entry.  Comments are always welcome.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay.  Her 31 years of real estate experience and her area expertise have been valuable resources for Pelican Bay Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

YouTube | Linkedin | Google | Website 

What happened with sales in the first quarter of 2009 in Pelican Bay?  What are the average sales and median sale prices?  Let us compare pending and closed sales from the first quarter of 2008 to the first quarter of 2009 to see what has happened.

Remember, anywhere that you see a high lighted text, you can click on it to be taken to more information.

• Low Rises in Pelican Bay saw a decrease in the number of pending and closed sales comparing the first quarter of 2008 to the first quarter of 2009.  The median sale price fell.  The list to sale differential increased to 10.11%.
• Mid Rises in Pelican Bay had no closed sales in the first quarter of 2009, compared to 5 closed sales in the first quarter of 2008.
• High Rises in Pelican Bay also saw a decrease in both pending sales and closed sales comparing the first quarter of 2008 to the first quarter of 2009.  The median price also saw a decline.  The list to sale differential increased.
• Attached Villas in Pelican Bay saw decreases in both pending and closed sales comparing the first quarter of 2008 to the first quarter of 2009.  Median price also declined. The list to sale differential went from 13.72% in the first quarter of 2008 to 20.38% in the first quarter of 2009.
• Detached Villas in Pelican Bay saw decreases in both pending and closed sales.  Median prices dropped 10.64%.
• Single Family Homes in Pelican Bay saw a decrease in pending and closed sales also.  Median and average prices were skewered by a 9.5 million dollar closed sale.

Note:  List to sale differential is the difference between what a home is listed for and the price at which it sells.

Please keep in mind that these statistics are just a snap shot of what took place in the 1st quarter of 2008 and the 1st quarter of 2009.  The market in Naples is  currently being driven by sales under $300,000.00.

On another note, I recently say a nifty site for coupons for local business and restaurants in Naples.  Click here to find coupons you can use.

More car carriers have been seen packing up cars and leaving Pelican Bay.  The Gulf water temperature has been hovering around 85 degrees this past week.  I have a feeling that Pelican Bay will have a busy Memorial Day weekend.  Will you be here?  In case you can not be here I thought you might enjoy seeing and hearing the waves at the Sandpiper beach in Pelican Bay. 

Should you be thinking of selling your home in Pelican Bay and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Looking for a home in our unique beach community?  Search here, once at the search page, you can search by development, save your search and new listing updates will be e-mailed to you.

Care to share a comment with us?  Just click on the Add Comment link at the bottom of this blog entry.  Comments are always welcome.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay.  Her 31 years of real estate experience and her area expertise have been valuable resources for Pelican Bay Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

YouTube | Linkedin | Google | Website