BAY COLONY FORECAST SEASON 2022-2023

Bay Colony Forecast Season 2022-2023

Hello Bay Colony Enthusiasts,

Today I’m covering one of my favorite beachfront and luxury golf communities, Bay Colony. This neighborhood has had a long history of moving differently than other neighborhoods across the board. I’ll go into this in more detail with the third edition of my 2022-2023 Naples real estate forecasts for all of my favorite Naples neighborhoods. A few days ago, I wrote my Audubon Country Club Forecast. I’ll explain the real estate market, where it might be headed, and what it means to you if you plan on buying or selling this year. Here’s my Bay Colony Forecast for Season 2022-2023.

In This Post:

• The One Big Talking Point

• Current Bay Colony Market Statistics

• Projected Inventory Levels

• Comparison of past inventory reports

• What to expect

The One Big Talking Point

As I mentioned, Bay Colony real estate doesn’t peak and valley like other neighborhoods in Naples. During the last downturn, people opted for other areas for only one year. Unanimously, it had to do with the fees. Bay Colony properties come with a bigger carry than areas like Park Shore and Pelican Bay. In 2010, prospective buyers punted out, but in 2011, they were right back in the game. While other neighborhoods around Naples are already seeing some reductions and increased inventory, Bay Colony isn’t, and that means the Sellers still have full control of the market. 

Current Bay Colony Stats

Current Inventory – 10 days 

In my Inventory Report on June 21st, Bay Colony had only two weeks of inventory, slightly less than what I reported last November. Today, there is only one active listing in Estates at Bay Colony. 

Here are the details:

May Closings

2021 – 17

2022 – 2

June Closings

2021 – 7

2022 – 5

July – Closings

2021 – 5

2022 – 2

August Closings

2021 – 5

2022 – 2 (Projected)

As you can see, there were 34 sales in Bay Colony last May through August compared to just 11 (projected) sales during the same time this year. There’s only one home currently available in Estates at Bay Colony. During normal market conditions, Bay Colony likes to hibernate in the summer, and it’s abundantly evident that it’s more “normal” this year than last. 

Residents here typically don’t want to be bothered with marketing their properties and keeping up with their listing agent. This year, there may be owners who would sell, but they don’t have any place to go. Now we’re tasked with the burden of hunting for potential sellers or that dreaded waiting for something to hit the market. It will be interesting to see how it plays out. 

Projected Inventory Levels

Three listings exited the market between April and August. Whether they will re-enter the market this upcoming season remains to be seen, but there’s a strong possibility these will return to the market sometime between October and January. They may also stay as pocket listings as well. 

If these three hit the market and nothing else sells, that will push inventories to just over one month of inventory, far below the requirement for any pricing relief. 

What To Expect

Selling?

Several owners lost out on big money last year because they cut a deal in the elevator with a friend of a friend. Before you agree to a private negotiation, it’s worth calling me to ensure you’re not leaving hundreds of thousands on the table like some of your past neighbors did last year!

Because the market has been so hot for so long, some agents have gotten off track to help you capture all of the value for your property. If you want to reap your highest reward, contact me. 

While the market is still ultra hot, many Bay Colony buyers are over having bloody knuckle competitions for a property. Ask me how I can capture your buyer without scaring them away!

Too busy to list? Let our team handle the details. We can accomplish everything from packing, shipping, orchestrating repairs, and even delivering your cable boxes back to Summit Broadband. We are your one-stop resource for cashing out of your Bay Colony property.

List with an agent who offers keen attention to detail and is prepared to do the extra work to help you compete. Negotiations are going to be very different. Working with a tenured agent who has good experience on this side of the trend will help you tremendously. Ask me why.

Buying?

There are quite a few prospective buyers who have been waiting years to get into Bay Colony. Some have been waiting for the perfect property, while others have been balking at recent prices. There will also be our new prospects who are just considering making a purchase. Make no mistake when new Bay Colony inventory hits the market, you won’t be the only one looking at it.

Here are a few tips on how to position yourself the best way:

1. Contact me in advance! There are times throughout the year I learn about opportunities that never hit the open market. If I know what you want, I can contact you before that home or condo hits the market. 

2. Have your financial affairs in order. While few sellers in Bay Colony will allow for a mortgage contingency, you’ll do better if you already have your ducks in a row! Talk with your financial people first.

3.  Need quality vendors? I have a full list of everybody you need to do a full remodel or a simple repair.

Most Bay Colony inventory will hit the market this preseason which begins in October. Keep your eyes open for the second half of September through the first couple weeks in October and January 2023. 

I hope you enjoyed my Bay Colony Forecast For Season 2022-2023. If you have any questions or if I can assist you further, please shoot me a text, call, or email.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223