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

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.

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