Naples Florida Real Estate: Florida: Naples: Pelican Bay

The Pelican Bay Naples Florida single family home market has stabilized as a whole although there are some areas within Pelican Bay doing better than others.  As I wrote in yesterday's blog post, the lowest priced product is doing the best in Naples, Florida.  I expected the same for sales in Pelican Bay but after further research, some of the most exclusive neighborhoods in Pelican Bay turned out to be the biggest winners during the last 12 months.

Pelican Bay Single Family Homes Snapshot:

There are 32 Pelican Bay homes for sale.

2 Pelican Bay homes are currently pending contract.

32 Pelican Bay home sales have occurred during the past 12 months.

Hot Pelican Bay Home Subdivisions:

Bay Colony Shores homes are actually doing better than the other single family home neighborhoods in Pelican Bay.  Specifically, Bay Colony Shores has done extremely well during the last 12 months with 7 sales and another one pending contract as I type.  There are only 3 Bay Colony Shores homes for sale now with prices ranging from $3,299,500 to $$4,500,000.

Pelican Bay Woods has also done well during the past year with 9 sales during the last 12 months.  There are 8 Pelican Bay Woods homes for sale currently with prices ranging from $730,000 (the lowest priced single family home in Pelican Bay) to $2,500,000.

Pointe Verde at Pelican Bay = 2 sales during the last 12 months with 1 home currently available there.

Pelican Bay Home Subdivisions Holding There Own:

Barrington at Pelican Bay = 3 sales during the last 12 months and 1 currently under contract.  There are only 3 left for sale in Barrington at Pelican Bay.

Jamestown at Pelican Bay = 1 available listing and one closing during the last 12 months.  The current listing is worth checking out!

Oakmont at Pelican Bay = 6 closings during the last 12 months with only 5 Oakmont at Pelican Bay homes available.

Strand at Pelican Bay = 1 sale during the last 12 months and 1 currently available.

Pelican Bay Home Subdivisions Still In Oversupply:

Georgetown at Pelican Bay = 6 homes for sale with only 1 closed sale during the last 12 months.  This is great leverage for a buyer right now if you can find a home seller interested in negotiating here.

Pinecrest at Pelican Bay = 6 homes for sale with only 3 closings during the last 12 months.  There are some nice listings here worth taking a peek!

Pelican Bay Home Subdivisions with little to discuss:

St. Andrews at Pelican Bay = 1 current listing.

Village at Pelican Bay = 1 listing available.

Bottom line is the gross oversupply of single family homes that once existed in Pelican Bay is dwindling.  You can expect for some owners to negotiate now more so than closer to our high selling season which starts as early as October depending on the weather.  If you have been waiting to get that best Pelican Bay single family home deal...I would do it now.  I think the window of opportunity is shrinking and statistics prove that point today.

You can expect more inventory to hit the market around the end of the year to prepare for our top selling season so if you're looking but you don't see anything that peeks your interest now, keep checking in!  That doesn't mean you're going to cut an exceptional deal though so make sure you know which part of your objective is most important to you.  If it's to buy a deal, do it now.

If you are a Pelican Bay buyer, contact me direct for fabulous buyer support and service!

If you are a Pelican Bay owner and are considering selling, contact me direct for the best advice on whether you should sell or hold and current property value!

Valencia at Pelican Bay Naples Florida is a fabulous low-rise and mid-rise condominium subdivison located centrally at the corner of Gulf Park Drive and Pelican Bay Boulevard.  Unit were constructed between 1988 and 1991 and the area features a clubhouse, pool and hot tub overlooking a sparkling lake.  Most Valencia at Pelican Bay units over look the lake and Pelican Bay Golf Course.

Currently there are 10 Valencia at Pelican Bay condos for sale.  For more information regarding Valencia at Pelican Bay, contact me direct!

Best Regards,

Interlachen at Pelican Bay Naples Florida is a fabulous condominium and villa community designed by Frank Lloyd Wright.  Located on Pelican Bay Boulevard just across the street from Cap Ferrat, it's central location means Interlachen residents are close to station 6 of the beach tram and just a short distance from The Commons Tennis Courts.  Here's a video so you can see how beautiful Interlachen at Pelican Bay really is:

 

Currently there are 8 Interlachen at Pelican Bay properties for sale.  For more information regarding Interlachen at Pelican Bay, contact me direct!

Best Regards,

Oakmont at Pelican Bay Naples Florida is a fabulous single family home community located in the northern part of Pelican Bay.  Currently there are seven Oakmont at Pelican Bay homes for sale.  Here's a peek through the community:

For more information regarding Oakmont at Pelican Bay, contact me direct!

Best Regards,

A recent request from a fan of ShannonLefevre.com is the result of the new St. Maarten at Pelican Bay Floor Plan page and the St. Maarten at Pelican Bay Site Plan page.  From ShannonLefevre.com you can read about St. Maarten at Pelican Bay community, see St. Maarten condos for sale, review St. Maarten at Pelican Bay recent sales and now review the floor plan and site plan. 

Currently there are 4 condos for sale in St. Maarten at Pelican Bay.

This is part of my ongoing efforts to make ShannonLefevre.com your one stop Pelican Bay real estate resource.  For more information regarding St. Maarten at Pelican bay, contact me direct!

Best Regards,

Oak Lake Sanctuary at Pelican Bay is a detached villa community located in the central portion of Pelican Bay.  Currently there are two Oak Lake Sanctuary homes for sale!  Here's a peek at this one street villa community in Pelican Bay.

For more information regarding Oak Lake Sanctuary, Contact me direct!

Villas of Pelican Bay is a fabulous centrally located community that can be found next to the Pelican Bay golf course on Gulf Park Drive! Currently there are two properties available there but you'll want to hurry! Pelican Bay sales are up nearly double compared to this time last year!

I took some video of Laurel Oaks at Pelican Bay while doing some research for the next issue of my "Pelican Bay Pink Pages", a monthly Pelican Bay newsletter that is available on a subscription only basis to Pelican Bay homeowners and prospects.  They've been doing great improvements and should be commended for their attractive and money saving improvements!  To learn more about Laurel Oaks at Pelican Bay, sign up for the Pelican Bay Pink Pages!

Enjoy the Laurel Oaks at Pelican Bay video!

While doing some research this evening, I stumbled across a terrific deal located in Pointe at Pelican Bay! Pointe at Pelican Bay is a gated, attached villa community featuring a pool, spa and fitness center.  At one time units sold for nearly $400.00 per square foot but the one I found today is LISTED for only #307.00 per square foot. The details are located below:

505 Via Veneto #201

Now $849,000 doesn't sound like that great of deal considering two just sold in Pointe at Pelican Bay in the $600's but this unit is MUCH LARGER, coming it at over 2,700 square feet of living space so comparatively, that unit really is a great deal.

Currently there are 4 Pointe at Pelican Bay homes for sale and are worth a peek.

I run into properties all the time I can consider a bargain but mostly I don't blog about them just in case the customers I'm currently working with may have an interest.  By the time my customer has either purchase or moved off of it, the property is gone and then blogging about it would be redundant.  That's why it's smart to contact me direct and let me find a property for you that will work for your needs and if you're looking for a beachfront steal, call me right away!

PS~ The blogging has slowed because I am a BUSY girl! But, I'm not too busy for you if you give me a little time to prepare for your visit!

Best Regards,

I'm not quite sure what was in the air this time last year regarding the typical prospect for Pelican Bay but it was just plain weird!  I suspect it had a great deal to do with the stock market blues that occurred September 2008 paired with the typical, "I want to buy when Pelican Bay bottoms out" mentality. The mixture of the two occurrences made for an interesting few months for sure. 

We saw a handful of single family homes dip under 1 million again, a super glut of condos that sat without offers and a few low-rise condos sell for under $300,000!  It wasn't too terribly long ago when you couldn't tip toe into Pelican Bay without $500,000 in your pocket and at that price you weren't going to get much...maybe a horribly outdated condo hugging Tamiami Trail...but that was about it.  That's probably why some sellers stuck their nose up at low offers which by what I heard and saw was prevalent.  Some listing agents fumed to the point of near hostility at some of the offers I presented only to gulp hard 6-8 months later when I was back with inquiries on the same properties that still hadn't sold...sigh.  Other sellers took less than they'd hoped to get deals done and some agents worked their tails off to insure closings.  All in all, it was a pretty rough year for Pelican Bay.

Rumor has it there will be more foreclosures and short sales appearing in locations like Pelican Bay this year.  There are 3 Pelican Bay properties being advertised as possible short sales now although only one of them looks like the deal you would hope to find...in fact...it is a REALLY good deal! If you're interested in learning more about it, shoot me an email or give me a call!  There are currently zero foreclosures.

Talking about good deals in Pelican Bay...a single family home closed for $775,000 today! HOLY COW! It had been put on the market for a whopping $1,499,000 just over a 2 years ago and was listed for just under $1,000,000 when they negotiated that price! So, yes Virginia, there is a Santa Clause you can still cut a nice deal in Pelican Bay.

Here's a breakdown of the current Pelican Bay Real Estate Market:

Pelican Bay Homes (Single Family):
31 Active
6 Pending
24 Closed last year 
That's about a 15 month supply...not bad but there is a slight oversupply of inventory!

Pelican Bay Villas
32 Active
6 Pending
34 Closed last year
Villas over all other product still are the hottest ticket in Pelican Bay! This market is STABLE.

Pelican Bay Condos (Low-Rise)
97 Active
9 Pending
78 Closed last year
There's just under a 15 month supply...same oversupply as single family!

Pelican Bay Condos (Mid-Rise)
17 Active
4 Pending
11 Closed last year
Eh...18 month supply :(

Pelican Bay Condos (High-Rise)
175 Active
6 Pending
81 Closed last year

OMG Nearly 26 month supply of inventory...there might be some opportunity here!

Currently there are 352 Pelican Bay listings. That's just over 18 months of inventory.  It's going to be important for Pelican Bay property owners who want to sell this season to play it smart! You'll want to watch pricing closely and you'll want to take a peek around your property.  People aren't snatching up tired for premium pricing anymore and for those of you who were smart enough to remodel or have product in excellent condition, crazy pricing isn't probably going to attract that cash/close tomorrow buyer either.

If I were listing my Pelican Bay home to sell right now, I'd be making sure all systems were in great working condition, everything was in beautiful aesthetic condition, my property was priced at an "oh crap if we don't buy it today somebody else will" level and I'd be hosting open houses every weekend. Now I know some people don't think open houses work but they definitely do in Pelican Bay.

For more information regarding Pelican Bay, visit my website or contact me direct!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!