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.
Number of Active, Pending, Sold and Unsold Pelican Bay units by building design
Active
Pending
Closed Sales
Unsold
Low Rise
105
15
26
37
Mid Rise
31
3
2
13
High Rise
193
11
32
78
Villa Attached
13
7
8
10
Villa Detached
17
2
7
3
Single Family
45
5
7
19
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.
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.
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.
Absorption rates have nothing to do with sun screen but they do tell us how many months it will take to "absorb" all the units for sale in Pelican Bay. The formal definition of Absorption Rate is: The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a market.
As of April 8, 2009, Pelican Bay has a total of 443 properties for sale. April 8, 2008 - April 8, 2009 saw 206 closed sales in Pelican Bay. During this period of time, we had an average of 17 sales a month. As of April 8th, we have 443 units for sale. If we divide this number of units available for sale by the 17 sales a month, we have an inventory that could last for 26 months. A "normal" market is said to have an inventory of 6 months.
My last blog entry talked about taking your home off the market if you really did not have to sell it. I keep harping on this because I follow the market and I know our inventory will take at least 26 months to deplete. Why place your home on the market if you really do not have to sell? Even with all the beauty that Pelican Bay has to offer, we are still in a price driven market. Roughly 66% of all listings are currently failing to sell in Pelican Bay. A listing coming on the market today in Pelican Bay has less than a one in three chance of selling.
If you scroll down this blog, you'll see some opinion boxes on the left hand side. It is interesting to note that people responding to the Home Seller question, Is your home sold because it is over priced? 44% of the 91 people who responded said "Probably!" I am curious if these people really don't have to sell their homes or if their Realtor® has not been communicating with them about the market.
We live in an incredibily wonderful area. I have tremendous joy each time I introduce a new buyer to Pelican Bay and they purchase a home here. I always hope they will enjoy this community as much as my husband, Don, and I enjoy it. Not much beats having dinner down at the Sandpiper Restaurant on the beach and watching gorgeous sunsets.
Should you be thinking of selling your Pelican Bay home and would like a candid assessment of what it would take to sell your home in today’s market, I would be happy to help. 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 I will send you out new listings to you daily.
Care to share a comment with us? Just click on the comment link at the bottom of this blog entry. Comments are always welcome.
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Absorption rates have nothing to do with sun screen but they do tell us how many months it will take to "absorb" all the units for sale in Pelican Bay. The formal definition of Absorption Rate is: The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a market..jpg)