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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To view the 2009 Second Quarter Pelican Bay real estate statistics please click on:  STATISTICS

I received an e-mail from The Foudation today saying the festivities scheduled for the Sandpiper will be cancelled.  The Sunset Cafe at the Sandbar Beach in Pelican Bay will have live entertainment from 12:00 -4:00 PM on Monday September 7th.

The Sunset Cafe is open 7 days a week for lunch 11:30 AM - 4:00 PM and for dinner from 4:00 PM until sunset.

On October 1, 2009 the fee for guest passes will increase to $15.00 for a 10 day pass and $25.00 for a 20 day pass.

The Fitness Center will be closed for renovations September 13 - September 24.

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.