Bay Colony Naples, Florida Update
Hello Naples Friends,
If you’re like some of the people I know, you’ve been waiting quite awhile for some price relief in Bay Colony, Naples, Florida. Guess what?! It’s happening! If you’ve been patient and calculating, it’s time to take a more serious step towards Bay Colony home and/or condo ownership! Let’s get started:
Here’s a quick snapshot of each neighborhood/building:
Bay Colony Shores: Oversupplied
- 5 Active
- 2 Closed during the past year
Bay Colony Shores has experienced a bit of a slowdown and residents know it. That’s why 4 of the 5 listings available today have experienced a price correction. There’s both remodel opportunities and a couple already amazingly transformed. If you like Bay Colony Shores, I encourage you to check out what’s available.
Biltmore at Bay Colony: Stable
- 3 Active
- 2 Pending
- 1 Closed during the past year
My what a difference a month makes! April was a great month for Biltmore with both the penthouse and an incredibly remodeled unit going under contract. Proof of buyers still interested in paying big dollars for both remodeled product and big renovation jobs exists here.
Brighton at Bay Colony: Stable
- 4 Active
- 4 Closed during the past year
Have you checked out the new listing that just hit the market here? You should! It’s amazing and the price is reasonable as well!
Carlysle at Bay Colony: Stable
- 1 Active
- 1 Closed during the past year
Not much is going on here. There’s only 1 nicely remodeled/low floor unit on the market. You should check it out if you have a moment!
Contessa at Bay Colony: Under-supplied
- 1 Active
- 4 Closed during the past year
Contessa has experienced a great year with only 1 left. Bring your money, it’s a double unit!
Mansion La Palma: Stable
- 2 Active
- 2 Sold during the past year
There’s an awesome remodeled unit for sale here! If you really like tennis, you can sit courtside all day long and heckle your friends…well maybe not but you can pick up some amazing techniques!
Marquesa at Bay Colony: Undersupplied
- 1 Active
- 2 Sold during the past year
There is a REALLY unique and beautiful unit on the market here. They did some amazing things that pictures don’t necessarily show. If you’re in town you should be checking this one out in person!
Remington at Bay Colony: Glut Of Inventory
- 8 Active
- 1 Sold during the past year
Remington at Bay Colony is experiencing the worst season ever! This is AWESOME news for any potential buyers out there who want a great deal. In fact, the best deal on the sand in Bay Colony is located in this building. If you’ve been waiting for a terrific buying opportunity, call me. I’ll tell you everything you need to know to determine if this is worth considering.
Salerno at Bay Colony: Undersupplied
- 2 Active
- 3 Pending
- 1 Sold during the past year
There’s a unit in here I absolutely adore! If you don’t want to blow all your money on beachfront and don’t want to do a huge remodel job, you should check out what’s available here!
Strand at Bay Colony: Oversupplied
- 2 Active
Let’s face it, the prospect base for properties of this magnitude is quite small but the allure of spending time in a private home on the sand is sensational. If you’ve got an extra 20 million burning a hole in your pocket, it’s definitely worth taking a peek at the Strand. Considering one is listed at the same price per foot 3 condos on the same beach brought a year or so ago makes one priced very attractively! The other one is simply magical and worth a look.
Toscana at Bay Colony: Undersupplied
- 3 Active
- 1 Pending
- 3 Sold during the past year
This may be one building where the appearance of inflexibility still exists. Sure there’s been 1 token discount but it might be time for a few more.
Trieste at Bay Colony: Oversupplied
- 5 Active
- 4 Sold during the past year
Price reductions have taken place here as well and the mere fact you can buy something in here for under $500/foot says something pretty amazing! The owners have already left the building…lol so if you’re looking for lots of space in an incredible building…check it out!
Villa La Palma: Stable
- 1 Active
- 1 Sold during the past year
The number one reason why people buy in Naples is to lure their loved ones down to visit! There are 4 bedrooms in the Villa La Palma unit currently available! Have all the kids come at the same time and have a blast!
Vizcaya at Bay Colony: Oversupplied
- 4 Active
- 2 Sold during the past year
Like the idea of a single family home without the hassle of maintaining one? Consider a villa! In fact, when you’re an owner in Bay Colony you have access to Signature Services, a concierge-based program where one call can do it all from stocking your fridge before you get into town or performing that A.C. service you don’t want to waste your time on.
Windsor at Bay Colony: Undersupplied
- 1 Active
- 1 Pending
- 1 Sold during the past year
If you consider 402 sold for $10,200,000 last June, the one that’s active might look like a deal! You’ll want to check it out to determine that for yourself!
So why is now the best time to buy in Bay Colony?
- Most owners are facing the reality that maybe they’re not going to sell until next year. They’re more vulnerable today than they have been since 2013. Keep in mind, last year was an election year so nobody knew what to expect and blamed lack of traffic or poor interest on election uncertainties. This season, while somewhat productive didn’t produce the results some were expecting.
- Prices are coming down! There have been 9 price reductions in Bay Colony just within the last month with one condo reducing 3 separate occasions to attract a buyer. Call me about that one!
- There’s a great mix of inventory! Remodeled product and gut job opportunities are available now where before it was very difficult to find something that has already been remodeled!
- List price to sales price ratios are dropping a bit and some people have been able to negotiate into the 80%-90% of list price bracket. Up until this year, it was almost ridiculous to expect a seller to come off their price that much!
- New listings hitting the market in some cases are pretty good deals. One just got listed today in Brighton with a $1,500/sq.ft. price tag. That sounds high but that’s something that has been almost completely gutted. One just closed in April with a $1,700/sq.ft. sales price so that’s a great sign of motivation and relief for a buyer.
- The Bay Colony Beach Club is already going through a massive extension and remodel. The assessment has already taken place and residents will be coming back next year to a brand new club. That’s a huge deal! Owners were assessed $8,400 to do the updating and several residents have already taken care of the cost which means you’ll get the luxury of enjoying the amenities and may get away without having to pay for it. While we’re on the subject, don’t be surprised if the renovation does something to the property values. Over the course of the last couple of years, most of my clients had kind of turned their nose up at the decor. You can’t blame them, it was time. Once that remodel takes place, the neighborhood’s favorite amenity is going to attract new blood and new money. That’s the number one reason why you want to get in now!
If you’re one of the many experiencing this nice little blast of cold weather during the next week, I’d say NOW is the exact right time to pull the trigger. Get out of that and get into one of these! Call me so we can get started today!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223