Posts Tagged ‘what is the difference in price between a 2 bedroom plus den versus a 3 bedroom condo’

Pelican Bay – Naples, FL –  What is happening with the prices on low-rise condos in Pelican Bay?  I was working on this question today so I decided to share my findings with you.  The median price of a low-rise condo in Pelican Bay at year end 2015 was $492,500.00.  From January 1, 2016 – August 29, 2016 the median price of a low-rise condo is $595,000.00 which is an increase of 20.81%!

2016 01-08

Low-Rise condo average and median sale prices  in Pelican Bay January 1, 2016 – August 29, 2016

In the process of looking at the above figures, I also looked at the 12-month period ending June 2016 for sold condos in all of Naples.

2nd Quarter 2016 Naples Condo Stats 

You’ll note on the 2nd quarter report that 62.84% of all condo sales in Naples were in the 0-300K price range.  The Naples Beach area accounted for 21.37% of all the condo sales and had a median price of $625,000.00.  The median price of a low-rise condo in Pelican Bay is $595,000.00.   Pelican Bay currently has 47 low-rise condos on the market.  There have been 8.5 sales a month since the beginning of 2016 for low-rise condos in Pelican Bay. This gives us an absorption rate of 5.5 months.   A “normal” market has an absorption rate of 6 months.

I was curious to see what the percentage difference was in the median price between a 2 bedroom plus den vs a 3 bedroom low-rise condo in Pelican Bay.  It turns out that the median price of the 3 bedroom low-rise in Pelican Bay is 16.7% higher than the median price of a two bedroom plus den low-rise in Pelican Bay.

Pelican Bay is truly an amazing place to live. If you are thinking about owning a second home in Pelican Bay, call me. I’d be delighted to help you find your place in paradise.

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About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay. Her 39 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 atLynn@NaplesBuys.com or call 239-594-2780.

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