Naples Florida Real Estate: Pelican Bay Naples Florida Market Update

There are 320 active listings in Pelican Bay.  That's just about 1.5 years of inventory. 

The lowest priced listing is offered for $350,000 for a two bedroom, two bath condo in Laurel Oaks at Pelican Bay.  $350,000 seems to be the magic low number to get an offer or at least it has been for the three other units that were priced the same which sold soon after.

The highest priced listing is offered for $17,700,000 located at The Strand at Bay Colony.  It's clearly the most magnificent home existing in the area and if you have the means to purchase something of this magnitude, you're cheating yourself if you don't at least take a peek.

There are 48 properties in Pelican Bay pending contract.  26 of those homes were listed under 1,000,000 and 22 of those homes are listed for 1,000,000+ with the highest priced property currently under contract located on the beach in Bay Colony at The Windsor at Bay Colony.  That unit was really amazing...one of my all time favorite properties I showed this year.

Average market time for all Pelican Bay listings is lengthy...coming in at 193 days. 

Average sales price is 91% of list price so as you can see, although it is possible to get a screaming deal in Pelican Bay...many Pelican Bay owners are getting pretty close to their asking price or they're simply not selling. 

Don't let this discourage you though.  I just put a property under contract in Pelican Bay a month or so ago which is set to close July 1.  It was an unbelievable deal and when I mean unbelievable, I mean...when the agent said we got it I thought...dang...I should've done that myself!

What's Hot:

Barrington at Pelican Bay only has one listing available.  It's only been on the market for 6 days.  The other two sold earlier this year.

Beauville at Pelican Bay only has one listing available.  It's been on for quite awhile it needs work but that is definitely reflected in the price.

Brighton at Bay Colony has two listings available.  Three have closed already this year and one is currently under contract.

Cannes at Pelican Bay is currently sold out.

Carlton Place at Pelican Bay is currently sold out.

Carlysle at Bay Colony has one left, the other closed earlier this year.

Cocobay at Pelican Bay is currently sold out.

Crescent at Pelican Bay had great activity with their lower priced units.  The 5 lowest priced units are either pending or closed making the next in line available coming in at $850,000.  Also the most expensive unit at the Crescent listed for $1,975,000 has also closed.

Georgetown at Pelican Bay only has one home available.  There are two homes that have closed in there this year and one is currently pending.

Hyde Park at Pelican Bay has two left.  Here's something interesting...the two most expensive units in Hyde Park have sold leaving the two least expensive units available.

Isle Verde at Pelican Bay is currently sold out.

Las Brisas at Pelican Bay only has two homes left.  2 are pending, 2 have closed already this year.

Mansion La Palma is currently sold out.

Marquesa at Bay Colony has one left, the other is currently pending.

 Oakmont at Pelican Bay has 4 left, there are currently two pending and two have closed already this year.

Pelican Bay Woods has 4 left with 4 homes that have closed already this year.

Salerno at Bay Colony has two available, one is pending the other has closed already this year.

Sanctuary at Pelican Bay has two left.  There are 4 that have closed there this year.

St. Andrews at Pelican Bay has one left.  The other is pending.

St Tropez at Pelican Bay is currently sold out.

Toscana at Bay Colony has one unit left.  The other 4 sold earlier this year.

Villa Coronado at Pelican Bay is currently sold out.

Villa La Palma at Bay Colony is currently sold out.

Village at Pelican Bay has two left.  The other two have sold.

Vizcaya at Bay Colony is currently sold out.

Waterford at Pelican Bay is currently sold out.

Windsor at Bay Colony has one left.  There is currently one pending contract and the other has sold.

If you didn't find the Pelican Bay community you were looking for in my report it's because it didn't make the "What's Hot" list.  Don't fret, you can access all Pelican Bay Communities through my website.

What does the future hold for Pelican Bay?  Time will tell for sure.  I do find it curious that we've seen a slight dip in sales.  By the end of May last year there were 126 sales.  By the end of May this year there were only 98.  You'll want to use this in your negotiations if you're thinking about purchasing but remember, while some Pelican Bay homeowners are really interested in selling, others are really interested in getting their price so don't forget to work with a Smart Girl who can help you find the right one for you.

Best Regards,

Your Pelican Bay Smart Girl!