Happy Summer and welcome to my Pine Ridge Naples, Florida real estate update.
Continuing on with my Naples summertime post series, next on the list is Pine Ridge Naples, Florida. People love Pine Ridge for the fabulous location, school district and extra large lots not found in most other Naples communities. Let’s see what’s going on.
In This Pine Ridge Naples, Florida real estate update:
- Pine Ridge Inventory Levels
- Pine Ridge New Construction Update
- Pine Ridge Seller Update
- Pine Ridge Buyer Update
Pine Ridge Naples, Florida real estate update INVENTORY
- 28 Active
- 7 Pending
- 27 Sold *past year
There’s some slightly good news for both Pine Ridge buyers and sellers. Market time has increased 26% over closed properties during the past year driving prices down a little from their original asking prices in many circumstances but list prices and sales prices are up from the year before so owners are still getting a great value at the table. It’s still pretty easy to see the market which is always good news for both buyers and sellers because we know it’s when we can’t see what a market is doing that creates havoc for both sides.
If Pine Ridge residents continue to be swift in responding appropriately with buyers and present market conditions, they’ll avoid some of the chaos going on in other communities around town where rigid thinking is really slowing a market down and will cause bigger discounting in the future.
- 6 Active
- 1 Pending
- 7 Sold *past year
New construction in Pine Ridge is making a good impact in the Pine Ridge market which is definitely bringing new life to the neighborhood. Recent teardown purchasing is also happening suggesting new construction isn’t over just yet. Average sold price per foot is $679 which is a sizeable bump up compared to the neighborhood average of $456.
I received a call this week from an awesome couple who are amidst finalizing plans for another glorious Pine Ridge home. They wanted me to review their plans and answer questions they had about the market. Their neighbors are going to find them to be a real asset to the community and their building ideas will contribute to the gorgeous transformation of Pine Ridge.
Pine Ridge Owners
If you’re thinking about selling your Pine Ridge home the good news is even bigger properties are selling this year with the highest sale in MLS history closing this past April for $6,090,000. What seems to be hottest this summer are the lower priced properties so far with average list prices for pending properties at $1,754,700.
If your property is priced well, it should sell at a good pace with 13 homes out of 27 selling within 90 days of market time. 13 of the 28 homes currently on the market have reduced their price during the term of the listing while 3 more have re-listed their property at a lower price. The market is moving a little south at this point which means price increases are not a good idea right now.
I’m seeing fatal selling mistakes in Pine Ridge just like I’m seeing in many other communities around Naples. Property condition and presentation is more important in this market than it has been for the last several years. To accelerate the problem some agents/owners are figuring this out and knocking it out of the park with their presentation…that’s your competition.
Pine Ridge Buyers
There’s a great selection of all sorts of different properties in Pine Ridge right now. Whether you want to build, remodel, buy new construction, it’s all available. Prices are more reasonable than they were during season, an added bonus.
7 properties have traded for more than 10% off list price this year bringing the Pine Ridge neighborhood average down to 92% list price to sales price ratio. While one guy negotiated 22% off list, this type of negotiating is more of an exception than a rule at this time. Owners have done a pretty fair job discounting through the term of their listing in many cases so don’t be too surprised if they’re not offering huge discounts at the table. List price to sales price ratio was at 91% last year illustrating responsive Sellers are seeing better results compared to last year.
5 Pine Ridge properties closed last August pointing to a pretty strong selling month so don’t think you’re alone searching for something to buy. While traffic is in no way strong throughout Pine Ridge at this time, deals are happening. If you’re planning on buying, now through mid-September is the absolute best time to purchase unless you want to wait til next March. Owners tend to get a little confident once October rolls around and can remain that way til March when after season discounts kick in once again.
If you’re thinking about buying Pine Ridge property, contact me today!
By the way, have you heard about the new development they’re discussing at the corner of Pine Ridge and Goodlette-Frank Road? You can check out a post in NextDoor which is also an excellent resource for Pine Ridge residents.
Ok Pine Ridge enthusiasts, this concludes my Pine Ridge Naples, Florida real estate update. I hope you found it useful and you sign up for my special reports if you’re thinking about buying or selling in Pine Ridge.
Shannon Lefevre, PA
Your Naples Smart Girl!
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