Pelican Bay Home Report

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Hello Naples Friends!

Welcome to my latest addition of the Pelican Bay home report! Pelican Bay enthusiasts have a great deal to be excited about regardless if they’re on the buying or selling side. Let’s take a peek at the current real estate trends in the Pelican Bay home report to find out why. This report includes both single-family and detached villa product.

Pelican Bay Home Report Snapshot

  • Active 33    $850,000 – $19,500,000
  • Pending 13    $1,195,000 – $5,795,000
  • Sold during the past 12 months 51    $674,000 – $4,900,000

The Pelican Bay home inventory is currently at 7 months.

The average price per foot values are as follows:

  • Active   $789
  • Pending    $706
  • List price closed during the past year   $561
  • Sold price closed during the past year    $519

The disparity between closed/foot and list/foot is largely due to the hyper-luxurious properties sitting on the market.

The average list price to sales price ratio is 92%, unchanged compared to the year before.

Average closing prices are down 4% compared to last year. Sellers and selling agents were quick to respond causing the market to fire up again quickly.

Market time is on the rise to the tune of 11% suggesting some owners need to consider reducing their price if they want to avoid high market times. The average consecutive days on the market for active listing is 231 days.

Average consecutive market time for pending properties is only 103 days which proves if it’s priced right, it will sell. In fact, 3 properties are pending with less than 10 days of market time concluding buyers are waiting for properties listed at a good perceived value. If you’re thinking about selling, find out how you can sell within a reasonable amount of time.

Pelican Bay new construction has proven to be a success! 5 of the 13 homes under contract right now were built within the last 3 years all with list prices in the $1,000+ per square foot range. If you’re looking for a new construction home in Pelican Bay, there are 5 left.

Property condition continues to be the biggest culprit of property value and with the vast assortment of old and outdated, half remodeled, fully remodeled and now new construction, placing appropriate values, while sometimes a challenge, shouldn’t be so challenging in a fast moving market like Pelican Bay. There is plenty of comparative data on the sheets explaining where value sits. If you’re having a tough time figuring it out, it pays to talk with an expert. I can offer an encyclopedia of insight as to whether something is a smart buying decision or maybe you should wait. I can also offer sound advice if you want to sell.

Pelican Bay Home Report Subdivision Results

Barrington at Pelican Bay

  • 1 Pending

Barrington at Pelican Bay has zero inventory on the market right now and with the last one selling in less than 70 days, now might be a good time to sell. Call me! I live right around the corner!

Bay Colony Shores

  • 3 Active
  • 3 Sold during the past year.

Bay Colony Shores has finally seen some movement after a lengthy hiatus. There was an EXTRAORDINARY deal in there this year while another negotiated quite heavily (18%)off the list price. The party isn’t over either. There is an awesome tear-down opportunity in here right now!

Bay Villas at Pelican Bay

  • 1 Sold during the past year.

Bay Villas at Pelican Bay needs listings right now! In fact, we need villa listings in ALL Pelican Bay villa neighborhoods right now! Call me! That last one sold in 7 days for 98% of list!

Beauville at Pelican Bay

  • 1 Sold during the past year.

Beauville at Pelican Bay needs listings too! Call me.

Breakwater at Pelican Bay

  • 1 Sold during the past year.

Breakwater at Pelican Bay had their only villa sell in September. Most people don’t even know it exists!

Bridge Way Villas

  • 1 Sold during the past year.

Bridge Way Villas has zero inventory right now and with the last one going under contract in just 14 days, I’d say now is a good time to go on the market. Call me.

Cambridge at Pelican Bay

  • 2 Active
  • 1 Sold

Cambridge at Pelican Bay has a couple of remodeled properties on the market right now. If you’re not looking for a project, it might be worth your time to check them out.

Carlton Place at Pelican Bay

  • 1 Sold during the past year.

Carlton Place at Pelican Bay sold one during the past year only lasting 9 days on the market. We definitely would like to see more properties hit the market here so if you’re thinking about selling, call me.

Chanteclair Manor

  • 1 Pending
  • 1 Sold during the past year.

Chanteclair Manor’s last listing went under contract in 10 days. We need listings here.

Cocobay at Pelican Bay

  • 1 Sold during the past year.

Cocobay at Pelican Bay has hovering admirers with the last listing selling in just 3 short days of market time at 100% of list price. Call me if you want to sell.

Georgetown at Pelican Bay

  • 1 Sold during the past year.

Georgetown at Pelican Bay is also prime for some new inventory with the last listing selling with just 2 short days on the market. Call me if you want to sell.

Isle Verde at Pelican Bay

  • 2 Active
  • 2 Sold during the past year.

Isle Verde at Pelican Bay is sitting steady with a year’s worth of inventory. This neighborhood is not performing as well compared to other Pelican Bay neighborhoods. If you would like to know the inside scoop, call me.

Oak Lake Sanctuary

  • 1 Active
  • 2 Sold during the past year.

Oak Lake Sanctuary has a nicely updated listing in here. If you like a courtyard style home, you should check it out.

Oakmont at Pelican Bay

  • 6 Active
  • 2 Pending
  • 9 Sold during the past year.

There are 8 months of inventory in Oakmont at Pelican Bay right now including a brand new home that just hit the market at a reasonable price compared to those recently going under contract. In fact, I’d call it a steal. You should check it out!

Pelican Bay Woods

  • 7 Active
  • 9 Pending
  • 12 Sold during the past year.

Pelican Bay Woods is sitting on 7 months of inventory right now but expect that to change as those 7 pending properties close which could push inventories down to as little as 4 months! This is where the lion share of the new construction activity is taking place. The latest Pelican Bay Woods new construction property to close sold at 99% of list with a sales price of $5,550,000, a new record for the location. There are some pretty amazing deals here too!

Pinecrest at Pelican Bay

  • 3 Active
  • 1 Pending
  • 5 Sold during the past year.

Pinecrest at Pelican Bay is another market boasting a brand new home priced over $1,000 per foot.

Pointe Verde at Pelican Bay

  • 1 Sold during the past year.

Pointe Verde at Pelican Bay needs listings here and now is an AWESOME time to sell!

Sand Pointe at Pelican Bay

  • 1 Active
  • 2 Sold during the past year.

Sand Pointe at Pelican Bay has a gorgeous remodel available here.

St. Andrews at Pelican Bay

  • 1 Active
  • 1 Sold during the past year.

St. Andrews at Pelican Bay has a great remodeled home here.

Strand at Bay Colony

  • 2 Active

Strand at Bay Colony continues to struggle for affection. People just haven’t been as eager to step up to the plate to pay North of $1,800 plus per foot and then orchestrate a huge remodel resulting in millions of dollars in renovations but that $60,000,000 beachfront home in Port Royal just went under contract so who knows…there could be a buyer right around the corner.

Villa La Palma

  • 1 Active
  • 1 Sold

Villa La Palma is showing signs of minor devaluing but that could be due to buyers dwindling desire to pay high values for properties needing renovations.

Village at Pelican Bay

  • 3 Sold

Village at Pelican Bay has zero inventory. We need listings here!

Vizcaya at Bay Colony

  • 4 Active
  • 1 Sold

Vizcaya at Bay Colony has some gorgeously remodeled homes in here right now but with the recent selling success of the new homes in other locations in Pelican Bay, people might be having trouble paying the same prices for remodeled properties.

Waterford at Pelican Bay

  • 1 Sold

Waterford at Pelican Bay is another neighborhood to watch. I’m seeing some new construction here along with evidence of lots of improvements taking place!

Pelican Bay Home Report Conclusion

Overall, the Pelican Bay home market is performing quite well. If after season traffic continues to be strong over the spring and summer, that could cause huge problems for buyers next season. You can expect some of the current inventory to disappear both through the natural sales process and additionally through those who think it’s most wise to take their properties off the market during the offseason.

I suspect Pelican Bay will continue to have a busy post season. 8 Pelican Bay homes have gone under contract during the past 26 days. I believe that will continue to be the case for the next month or so. Smart buyers knew this was the year to wait for after season deals but some buyers are

Now is a good time to buy even with the recent drive of traffic. Some owners who want to sell will make their presence known in the form of price reductions. There have been 10 price reductions since April 1st this year and there is new inventory that has hit the market in the last 30 days! Pelican Bay is a great location with good open house opportunities. If you don’t have anything to do, you might check out Pelican Bay open houses this weekend!

I hope you enjoyed my Pelican Bay home report. If you’re thinking about buying or selling a Pelican Bay home, contact me today!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

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