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Hello Naples Friends

There are lots going on in the Park Shore beachfront condo arena this year! We have some clear winners and some high-rise condos not performing so well. There have also been some very lucky buyers this year! You’re welcome to check out my last Park Shore beachfront update to compare with what’s taken place! Let’s take a look at the current details.

Current Park Shore beachfront high-rise market compared to last November:

Active 96 $699,000-$9,995,000 Nov.- 63 Active -$749,000-$10,995,000
Average list price on active listings- $2,530,185 Nov.-$2,618,000
The average list price per square foot on active listings- $891 Nov.-$904
Median list price on active listings- $1,549,999 Nov.-$1,295,000
19 Pending sales -$725,000-$5,900,000 Nov.-8 Pending sales -$875,000-$3,295,000
108 Sales during the past year, price the same as Nov. 110 Sales during the past year – List Price $649,000- $7,975,000 Sales price $580,000- $7,825,000
Average list price on sales during the past year- $1,801,845 Nov.-$1,969,252
The average sales price on sales during the past year- $1,708,711 Nov.-$1,870,482
The average list price per square foot on sold listings during the past year- $775 Nov.-$793
Average sales price per square foot on sold listings during the past year- $735 oops wrote that wrong in Nov.
The median price for listings sold during the past year- $1,349,000 Nov.-$1,425,000

Average market time- 133 days Nov.-150 days

Let’s break it down per Park Shore beachfront building:

Park Shore Beachfront Stinkers:

Allegro at Park Shore

3 Active
2 Pending

Allegro is seeing new signs of life with recent pending listings, which is great. It tells me people are responding to pricing under 1 million in that building. It also tells me they’re not responding to over 1 million. Updates mean everything doesn’t it?

Allegro Buyers: I have the top 6 Park Shore beachfront deals right now. None of them are in Allegro at this time.

Allegro Sellers: If you’re thinking about selling, you’ll want to look over your neighbor’s past success and into neighboring buildings for the buyer’s perceived value when pricing your Allegro condo. Why would you do that when we can do that for you?

Aria at Park Shore

7 Active
2 Pending
3 Sold during the past year

It’s almost not fair Aria should be a stinker right now with 2 pending sales. 4 of the 7 listings are less than 50 days old…but with 17 months of inventory (to be generous) and looking at current pricing, Aria could be in for a slow down if they don’t do some price adjustments shortly.

Aria Buyers: Is this a building where you could wait for some end of season discounts. Yes….that is unless you see something you love. Go for it now! If you’re only mildly interested and you don’t really care if the unit you like sells to somebody else for the discount you want, then wait. Contact me if you want to see if you can get the type of movement you’re hoping for!

Aria Sellers: There’s nothing worse than when a whole building goes stagnant. Aria isn’t there yet with 2 pending listings but that could change very rapidly. That’s why you want to price to compete if you’re thinking about hitting the market right now. High market times and over supply of inventory spooks buyers so make sure you go on the market with a mission. It’s common for neighbors to look at what else is for sale to determine their price. Don’t do that here. You and your neighbors could be looking at each other for longer durations than any of you had hoped. Contact me today for precision pricing and the best marketing plan on earth.

Brittany at Park Shore

6 Active
2 Pending
2 Sold during the past year

Brittany is doing the same thing Aria did with 3 of the 6 current active listings showing market time of 50 days and less. Also not completely fair but people aren’t knocking the doors down for what’s currently on the market. The excellent news for buyers is 4 of the current listings have had price reductions…is it enough? People have responded well to the high floors, not so much to the lower floors.

Brittany at Park Shore Buyers: Hey, Happy Birthday! Pricing is coming down in Brittany at Park Shore. That tells me sellers and seller’s agents are on to your dissatisfaction with current values. Does that mean they’ll come down a lot more at the negotiating table? I can get a pretty fair assessment with just my index finger if you contact me and tell me you’re interested.

Brittany at Park Shore Sellers: If you’re thinking about listing your Brittany at Park Shore condo, now is not the time to look at what your neighbors are doing. Contact me so we can price that gorgeous condo to sell so you can take all that money and do something more fun because the last thing you want to do is bump into all of your neighbors next season at the welcome back party when you didn’t sell.

Gulfside at Park Shore

8 Active
0 Pending
5 Sold during the past year.

Oh dear! This building is STAGNANT. 4 condos are sitting on the market well over 100 days which tells me. It’s time to drop it like it’s hot especially with 19 months of inventory. The last sale closed in July of last year…a true problem. Time to do some house cleaning here for sure.

Gulfside Buyers: So the good news is 5 of the 8 listings on the market have reduced their price. Huge substantial reductions? Well no but that doesn’t mean they won’t take your offer seriously. There’s only one way to find out. Contact me and let’s see what we can do.

Gulfside Sellers: Don’t let trouble in paradise prevent you from selling this year if that’s your goal. Contact us today to get some realistic forecasts on pricing and marketing skills that will help you win.

Le Jardin at Park Shore

2 Active
1 Closed during the past year

Oh ga…only 1 of these has been on the market for 8 days. SO UNFAIR to call Le Jardin a stinker right now I mean after all, it only takes one sale in there to turn it back into a rock star again and that building is really a unique rock star in itself. I adore only 3 stacks and the size of those units!

Le Jardin Buyers: If you’re looking for a true beachy feeling unit, you must check out what’s for sale in Le Jardin right now! It’s beautifully appointed! Contact me if you’d like to see it in person!

Le Jardin Sellers: If you’re thinking about selling your Le Jardin unit you’re going to want precision pricing to get it done. Did you know John R. Wood Properties sold more than any other Naples real estate company last year. That wasn’t a mistake and we can help you sell your unit too. Our reach is far, our intelligence is vast and our enthusiasm to provide excellent service to you is second to none. Contact us today.

Le Rivage at Park Shore

5 Active
2 Sold during the past year

With 2.5 years of inventory here and the last sale occurring in October of last year, Le Rivage is stagnant as well especially when you factor in market time. For the two that sold it was an average of 6 days. For the 5 on the market it’s now 151. It’s time pricing come down substantially here because current buyers are not enthusiastic about the current values.

Le Rivage Buyers: The good news is one owner realizes a correction is taking place and has reduced their property nearly 17% off original price. The rest of the owners may not be as insightful so you could be wondering if it’s wise to wait for further reductions or go for it. Le Rivage is one of my absolute favorite high end buildings and having an address there is an honor. I think you should make your presence known now. You can always continue the waiting game if you don’t like what you hear. Let us help you with that strategy!

Le Rivage Sellers: If you’re thinking about selling your Le Rivage condo, pricing against your neighbors is going to be the most winning strategy. Contact us today so we can give you pricing with precision and you can take that money to ride out your next fabulous chapter!

Provence at Park Shore

3 Active
2 Closed during the past year

Calling Provence a stinker would be unfair if it wasn’t for the lengthy market times Provence is experiencing right now. It’s up 34% compared to the two that closed and there hasn’t been a sale since June of 2016. That puts Provence in a stagnant state of mind.

Provence Buyers: The only thing more stagnant is the price. 0 price reductions on the current listings tell me there’s a Mexican stand off between buyers and sellers here. Does that mean there could be after season discounting or perhaps more accommodation at the negotiating table? Want to know more about what can be done in Provence? Contact us about it.

Provence Sellers: If your goal is to sell sometime in the near future, you’ll want to use our expertise to get it done. The last thing you want is to be sandwiched between your neighbors who haven’t been able to make it to the closing table this year.

Regent at Park Shore

3 Active
1 Sold during the past year

Regent is having similar trouble as many of our ultra high end condos this year but I can’t really blame them. This is one of my all time favorite buildings in Naples. I wouldn’t be too excited about dropping my price to produce a buyer either. Couple that with the fact that Regent is 15 years old and many of the units are starting to show their age a little calls for some serious remodeling requirements. It’s tough.

Regent at Park Shore Buyers: If you want to score a deal, large chances are it’s going to have to make sense to both you and the seller. Because the slowdown here is rather new, sellers of this magnitude don’t take news like this lightly nor are any of them in some distressed situation. A negotiating strategy here could easily fail if you just take one punch at it. Let us help you secure a magnificent condo here!

Regent at Park Shore Sellers: If you really want to sell (because the likelihood of you really needing to sell is not good) let us help you! The same tired selling strategies are no longer working and it’s time to bring in some creative blood to stir up those ready willing and able buyers. We can help with that!

Solamar at Park Shore

6 Active
4 Sold during the past year

Whoo market times are on the rise and this building has been sitting without sales activity since last July. That’s a problem! Current sellers are on to buyers dissatisfaction with current values with 4 of the 6 listings dropping prices but none of those reductions were enough to make my 6 best deals on the beach in Park Shore list.

Solamar Buyers: If you’re hearing the song, “Should I stay or should I go now”…you’re not alone. It’s tough to determine if now is the time to strike to get a deal here or if you should wait for reductions. There are better buildings (in my opinion) with similar pricing so it might be wise to check those out or hang tight. If you want to take a run at something, let us at least help you secure the best deal possible.

Solamar Sellers: You too could be playing the same song as Solamar buyers right now. “…If I go there could be trouble…If I stay it could be double”… If you’re thinking about selling your Solamar condo, hakuna matata! Translation: No worries. We’vee seen this all before, 18 months of inventory doesn’t scare us and if you talk to us about how we can get your property sold, it won’t scare you either.

There was 1 Park Shore beachfront high-rise condo performing right in the middle!

Meridian Club

3 Active
1 Pending
3 Sold during the past year.

You do realize when that pending contract transitions into the sold category, Meridian Club is back in the green right?

Meridian Club Buyers: Looking for some fresh updating? You need to check out what’s available in Meridian Club right now. Not everybody is interested in a project and if you fall into that category, you might find something you like here at a fairly reasonable price.

Meridian Club Sellers: High Five! Your neighbors have been knocking it out of the park when it comes to keeping a strong real estate market in your building. Other buildings aren’t doing as well which means you don’t want to get too confident with your pricing when you go on the market. We can help you price your property to sell just like your old neighbors did!
There are 14 Park Shore Beachfront Rock Stars right now. Here they are:

Bay Shore Place

5 Active
1 Pending
6 Sold

Only 8 months of inventory and 6 nearly 7 condos closed during the past year puts Bay Shore Place in the high performing category. Owners and their agents are doing a magnificent job connecting with buyers by pricing their properties well and attracting people who know that. Pricing is creeping up here because of it too.

Bay Shore Place Buyers: Condos in Bay Shore Place are trading on average at 96%. It’s a tough market for you. It’s hard to compete when there’s so many like you. As a matter of fact, this price range (under 1,000,000) is seeing some terrific activity. Can you get a better deal if you wait til after season…perhaps but it might take some time to sniff it out. If you’re not married to Bay Shore Place, ask me for my Park Shore beachfront best deals list!

Bay Shore Place Sellers: Congratulations! You are in a building showing tremendous success. This is no time to lose your mind on your price if you’re thinking about selling though. In fact, this is the time when sellers go crazy with their list prices because they’re a little too confident. Price it well and it will sell but not so well you leave money on the table unknowingly. Contact us today to get a superb evaluation and marketing plan!

Esplanade Club

5 Active
8 Closed during the past year.

WOW! With less than 8 months on the market, you might expect pricing to get a little crazy and one of them actually has but one of them made my top 6 best Park Shore beachfront deals so there’s that.

Esplanade Club Buyers: Yes, Esplanade Club has performed well but pricing isn’t absolutely ridiculous…well except for that one guy. There’s a deal to be had here!

Esplanade Club Sellers: There’s already one guy who let the success of your building go to their head. Contact us to make sure you don’t make the same mistake. You certainly don’t want to be sharing his woes poolside say next January! Hahaha.

Horizon House

2 Active
6 Sold during the past year.

One of those just hit the market today so triple high fives for the residents at Horizon House for knocking it out of the park this year!

Horizon House Buyers: From what I can see an overwhelming majority of sellers want to sell in this building. There’s still a deal here!

Horizon House Sellers: You are or I guess were amidst a bunch of winners. Continue their path!

La Mer at Park Shore

3 Active
1 Pending
5 Sales during the past year.

Yay La Mer approaching only 6 months of inventory! Many residents here have taken some serious care in improving their units and buyers are responding well!

La Mer Buyers: If you’re looking for units with nice updating, you should be checking out La Mer!

La Mer Sellers: There’s been some serious success in your building this year. Many of the residents have made substantial renovations or are pricing their property accordingly with property condition and view. You definitely want to follow suit to get your best price and share in their success!

Le Ciel Park Tower

2 Sold during the past year

COMPLETELY SOLD OUT. BRAVO!!!

Le Ciel Park Tower Buyers: Sorry, nothing available here but you’re welcome to check out all of the Park Shore beachfront condos currently available or contact me and I’ll hunt one up for you!

Le Ciel Park Tower Sellers: The last two units sold in Le Ciel sold privately. Open up the competition by pricing attractively and reaping rewards!

Le Ciel Venetian Tower

1 Active
2 Pending
4 Sold during the past year.

Here’s another stellar performing building but the past success could be going to somebody’s head.

Le Ciel Venetian Tower Buyers: Uhm….pickings are slim…

Le Ciel Venetian Tower Sellers: The worst thing you can do is capitalize on past neighbor’s success with horribly unrealistic pricing. Let us help you continue the success of your building with a win for you!

Le Parc at Park Shore

1 Active
2 Sales during the past year.

Yes, there’s only 6 months of inventory here but there’s not much going on here.

Le Parc Buyers: I hope you like low floors…if not you might want to check out what else is available in other Park Shore Beachfront buildings.

Le Parc Sellers: If you list today you’re only competing with one low floor unit. That’s awesome news for you. People love the first position on the sand just like you do. If your goal is to sell sometime within the next few months, your competition is likely going to come from outside La Mer unless you too own a low floor unit. You can become an expert on the entire Park Shore high rise market or you can hire us. Hint: It’s way easier to higher us.

Monaco Beach Club

7 Active
1 Pending
9 Sold during the past year.

While the market has been good to Monaco Beach Club during the past year, I do see a slow down even though they only have 9 months of inventory. Sellers are on to that as well with 4 of the 7 on the market showing some reduction in price. Are the reductions enough to sustain the success?

Monaco Beach Club Buyers: There’s some remodeled stuff available in Monaco Beach Club right now and well there’s some that aren’t so great. You might take a peek for yourself and if you don’t see anything that interests you, check out some of the other Park Shore beachfront condos currently available.

Monaco Beach Club Sellers: If you’re thinking about selling you Monaco Beach Club condo, you’re going to want to be a little careful right now. This is a building that could swiftly stall if current active listings aren’t responsive to activity or lack thereof. You’ll want to price your property like a pro and expose your property to the right group of eyeballs who can recognize quality or a deal!

Park Plaza

3 Active
1 Pending
4 Sold during the past year.

With soon to be 7 months of inventory, Park Plaza is in the green but I see trouble in the waters. Smart buyers who are willing to take on a remodel who want to be done by the end of construction period in October likely have already purchased which means anybody else will have to suffer through a season of old and outdated. This could mean big trouble for market times of the original condition properties you might find here. A client asked me the other day if it’s possible to over improve on the beach. The answer is, “hell ya”. Ridiculous pricing on incredibly remodeled properties will sit.

Park Plaza Buyers: If you’re thinking about buying in Park Plaza, you have a choice of buying original or remodeled. You may also find there are better other options around Park Shore.

Park Plaza Sellers: Yes, Park Plaza has seen great success during the past year. Only 1 has gone under contract this season and the last sale happened in June of last year. The building could be positioning for a stall. You’ll want to price your property with the intention to sell if you want to get it done this season. We can help with that and we’ll even add a compelling marketing plan and negotiating strategy!

Park Shore Tower

5 Active
6 Sold during the past year.

This is another one of those buildings that has seen great success over the past several years but a slow down is evident. 4 of the 5 Park Shore Tower listings have reduced from their original offering. While that’s good news for buyers, I’m not sure the amount of reduction is going to be enough to make a buyer pounce. It hasn’t happened so far in 2017. It’s possible anybody interested in Park Shore Tower is waiting for further after season discounts.

Park Shore Tower Buyers: While it looks like Park Shore Tower is at a standstill, a smart buyer wanting to be in this location would make an offer now. Anybody who really wants to sell this season is a getting a little nervous now that the calendar has rolled over to March and weather up north is unseasonably warm. Even if you don’t get it together now, you could be in the first position if that guy willing to pay more never resurfaces.

Park Shore Tower Sellers: Price is going to be everything for you if you want to sell within the next 7-8 months. Contact us today to find out what you can do to position yourself at the front of the next sale in Park Shore Tower.

Savoy at Park Shore

4 Active
7 Sold during the past year.

Only 1 sale this year or 2 if you’re counting back as far as October still doesn’t make this a big banner year for Savoy even though numbers show less than a 7-month inventory. Only 1 seller has reduced their price which means they’re on to a possible slow down. Will we see more reductions this month is Savoy? If I were a seller in Savoy and my goal was to sell this season, I would reduce.

Savoy Buyers: You have some choices where there have been some remodeling. If you’re looking for a project you could snag a high floor at a fairly reasonable price but you could have to wait til next summer to get that remodeling done if you’re not a pro at getting your plans to permitting in time to complete your project by the end of this next construction period.

Savoy Sellers: Competition is on the rise and it’s time to be aggressive if you want to get your deal within the next 7 months. When markets get like this it’s common for buyers to want to buy for less and do their own work opposed to buying remodeled units at a premium. That means if you have something in original or near original condition and you price it well, you could be successful faster than some of your competition from years past. Contact us today and we can tell you with precision how we can help you get yours sold.

Surfsedge

5 Active
6 Sold

Zero sales in ’17 and 5 active is not the sign of a stellar market even though on paper Surfsedge is still showing an under-supply of inventory. Regardless, Surfsedge is performing way better than her sister building Gulfside currently in an oversupply situation. The difference between the two though is that Gulfside knows it’s in trouble due to the number of price reductions where Surfsedge still may be reeling in past success.

Surfsedge Buyers: Yes, on paper it looks like Surfsedge is doing well but you might be able to cut a better deal in Gulfside this year. If you see something you love, go for it or you can wait to possibly compete if an owner does a sizeable reduction and stirs up your competition. Good news for you is that there’s a deal in both Surfsedge and Gulfside!

Surfsedge Sellers: Don’t lose momentum! If we’re amidst a price correction with all signs pointing towards yes, you’ll want to price aggressively now or wait and lose more next season. If you want to sell before the next season, contact us. We know how to do it!

Terraces at Park Shore

3 Active
3 Pending
6 Sold during the past year.

Terraces is still seeing tremendous success with soon to be only 4 months of inventory. Even though successful, Terraces at Park Shore owners haven’t let it go to their head either. There’s definitely a deal here!

Terraces at Park Shore Buyers: You are winning with pricing here and sellers are still being accommodating. If you’re looking for affordability in Park Shore beachfront, you may want to start here!

Terraces at Park Shore Sellers: You are amidst a bunch of winners! Congratulations! If you’re thinking about selling follow the footsteps of your past neighbors. Price to sell and win! If you’d like help, contact us!

Vistas at Park Shore

3 Active
1 Pending
9 Sold during the past year.

Vistas is another building showing amazing results but with only 1 sale this year…that could slow in a hurry. There’s was a deal to be had here it sold as I was writing this post. Eaaak! Now there are only 3 months of inventory.

Vistas Buyers: All of you except one just missed the best deal in the building. There’s still some pretty stuff to see! Get on it because it’s going to get crazy!

Vista Sellers: Hey, now’s a great time to list! Are you thinking about selling? You’re located in a building where there’s still some good traffic! Contact us and let’s get that going for you!

Ok, so I hope your season is going well! If you’re thinking about buying or selling in Park Shore or any other Naples luxury location, give us a shout. We’ll be happy to help you out and you’ll be happy we did!

Best Regards,

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