From October 2011 through October 2012, there were 702 closed sales. The Average sales price was $2.3m, the Median sales price was $2m, the average Days on Market was 245, and the average price per square foot was $577.
If you would like me to send you the specific closed sales and statistical analysis, please feel free to contact me directly.
Since Pelican Bay dominates 34108, I will assume that you are asking about that community. The market slowed considerably in the last quarter of 2005 but prices were at their highest during that same period from Oct 2005 to Oct 2006.
Here is a comparison of three communities in Pelican Bay from 2006 and 2012.
St Raphael is a newer high rise. Sales in Oct 2005-2006 were between $1,000,000 and $2,400,000 with a median price of $1,520,000 on 13 sales compared to the Oct 2011-2012 sales of $660,000 and $2,500,000 with a median price of $1,200,000 on 14 sales.
Pebble Creek is a mid priced midrise. Sales in Oct 2005-2006 were between $560,000 and $800,000 with a median price of $725,000 on 7 sales compared to the Oct 2011-2012 sales of $390,000 and $575,000 with a median price of $450,000 on 11 sales.
Willow Brooke is a low rise entry level community. Sales in Oct 2005-2006 were between $500,000 and $600,000 with a median price of $537,000 on 5 sales compared to the Oct 2011-2012 sales of $234,000 and $340,000 with a median price of $305,000 on 9 sales.
There is a greater disparity in pricing on the lower priced units because they were in short supply in the 2005-2006 era. High rise units being at the top of the price range did not go up as much as the lower priced units. There are few new high rise buildings being sold with the amenities and views that Pelican Bay has to offer so over the past six years the prices have not change as dramatically. While Pelican Bay still offers a sensational lifestyle, the units were built in the 1980's & 90's. The updated units bring a higher price so the ranges are greater than six years ago.
As properties age, they depreciate in value unless they are updated no matter where they are so getting back to those same prices on the lower priced units is not likely for many years. Again, an update unit in the higher price ranges would be the exception.
I hope this was helpful. If I can be of further assistance, let me know.
Prudential Florida Realty
Here are the facts, overall Sales are up 90%, 265 vs 516 transactions (through Oct 10).Values are down 40%, $1.3mil vs $ 38 mil. Sales are up in each category and prices are down.
Category Transactions / Values
NAPLES PARK 149% / -47%
PELICAN BAY Total 69% / -37%
High Rise (8 or more) 32% / -29%
Low Rise (1-3 Floors) 140% / -40%
Mid Rise (4-7 Floors) 117% / -34%
Single Family 483% / -66%
VANDERBILT BEACH Total 141% / -31%
High Rise (8 or more) 189% / -10%
Low Rise (1-3 Floors) 200% / -53%
Mid Rise (4-7 Floors) 100% / -58
You can find a lot more data on Naples Real Estate Report:
Steve Moller, Realtor
It depends on the community - Pelican Bay & Pelican Marsh have seen greater appreciation over the past couple of years & inventory is low, same as som areas of Vanderbilt Beach...Please e mail me the communities you are interested in & I can get you an in depth analysis of the area. My e mail is email@example.com & my phone # is 239-230--5236. We have lived in 34108 area for past 27 years & know it well. Have also been selling & listing in same area. If you want more info on us please check our web site at http://www.TheCanditoGroup.com
Mortgage Broker responds:
I'm involved with purchases and close loans all over the state of FL, so I can tell you better than most that prices are going back up!
Most see that with rates this low and prices going up, sitting on the fence and waiting can cost thousands!
Look at these loan programs for FL and contact me with two that you are most interested in getting a quote on: http://www.trulia.com/blog/steve_31/2012/07/2012_loan_progra
Pro Option Mortgage/Florida
Ph: 888 662 4404
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