Pelican Bay – Naples, FL – WOW! It’s been quite a year so far in Pelican Bay. I’ve had a very busy year, so busy that I am finally posting year-to-date statistics for 2014 AND the first half of 2015 for all building types. Let’s take a look at what’s been happening.
LOW-RISES:
| Sales Price | 2013–YTD | 2014-YTD | 1st Half 2015 |
| Average | $459,539. | $461,391. | $535,458. |
| Median | $389,000. | $429,500. | $490,000. |
| Units Sold | 110 | 98 | 75 |
| Days on Market | 154 | 141 | 121 |
There are currently 22 active low-rise listings on the market in Pelican Bay. At the rate of sales within the last 6 months, we have a 1.75 months worth of inventory in low rises to be sold.
MID-RISES:
| Sales Price | 2013–YTD | 2014–YTD | 1st Half 2015 |
| Average | $592,903. | $788,243. | $885,860. |
| Median | $490,000. | $525,000. | $670,000. |
| Units Sold | 59 | 61 | 26 |
| Days on Market | 92 | 219 | 119 |
As of today, there are 5 mid-rise listings on the market. Mid-rise inventory has an absorption rate of 1.25 months.
HIGH-RISES:
| Sales Price | 2013–YTD | 2014–YTD | 1st Half 2015 |
| Average | $1,302,558. | $1,633,130. | $1,794,427. |
| Median | $966,000. | $1,255,000. | $1,237,000. |
| Units Sold | 170 | 160 | 96 |
| Days on Market | 207 | 198 | 158 |
Today finds us with 28 active high-rise listings on the market with an absorption rate of 1.06 months.
Villas – ATTACHED
| Sales Price | 2013–YTD | 2014–YTD | 1st Half 2015 |
| Average | $737,250. | $1,077,447. | $990,956. |
| Median | $725,000. | $970,000. | $950,000. |
| Units Sold | 33 | 23 | 25 |
| Days on Market | 148 | 186 | 98 |
There is currently only 1 active attached villa on the market.
Villas – DETACHED
| Sales Price | 2013–YTD | 2014–YTD | 1st Half 2015 |
| Average | $1,266,200. | $1,400,350. | $1,152,693. |
| Median | $1,100,000. | $1,397,500. | $900,000. |
| Units Sold | 15 | 20 | 15 |
| Days on Market | 155 | 269 | 222 |
There are currently 3 active detached villas on the market.
SINGLE FAMILY
| Sales Price | 2013–YTD | 2014–YTD | 1st Half 2015 |
| Average | $1,251,288. | $1,730,929. | $2,022,685. |
| Median | $1,218,500. | $1,300,000. | $1,350,000. |
| Units Sold | 33 | 28 | 27 |
| Days on Market | 293 | 202 | 139 |
As of today there are 9 active single family homes on the market in Pelican Bay.
Between 2013 and 2014 every single building design saw an increase in price. The first six months of this year saw an increase in price in every building category except for attached villas.
It is apparent that Pelican Bay has a lack of inventory. I looked back at some of my old blog entries and found this one from 2011. In 2011, we were averaging around 14 months to absorb all the listings on the market. Now we have a shortage of listings.
What’s causing this shortage of listings? While prices have climbed up, some Residents are still holding onto units that they bought at the height of the market. Other Residents have decided to sell their Northern homes and live in their Pelican Bay properties. These scenarios have also contributed to the lack of units for rent and the increase in rental prices.
Pelican Bay is a beautiful place to live. The amount of inquires I receive from Buyers looking to purchase in Pelican Bay tells me that other people also believe this is a beautiful place to live.
Thinking of selling a home in Pelican Bay? Call or e-mail me at 239-594-2780 or Lynn@NaplesBuys.com I’d be happy to discuss how much your home is worth in today’s market.
Looking to buy in Pelican Bay? Click here: HOME FOR SALE.
Would you like to subscribe to Pelican Bay updates? E-mail me at Lynn@NaplesBuys.com and I will add you to the subscription list. Please know that I will keep your e-mail address private.
Do you have some photos of Pelican Bay you would enjoy sharing? If you are a member of FaceBook, you can login in and join the Florida Beaches and Spectacular Sunsets to posts photos, videos and experiences about Pelican Bay.
Care to comment about this post? Just click on the ADD COMMENT link at the end of this entry.
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 37 years of real estate experience and her area expertise have been valuable resources to Pelican Bay Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail at Lynn@NaplesBuys.com or call 239-594-2780.
Pelican Bay Real Estate Expert Blog 