LAMBIANCE 2008 YTD STATISTICS

The New Year has started out pretty hectic.  My phone has been ringing and I have been receiving e-mail inquiries about homes.  I have to say that it seems busier to me than the beginning of last year!

 

I have finally finished calculating the statistics for L’Ambiance.  I have separated the coach homes from the garden homes and the first floor residences from the second floor residences.  To view these statistics click on:  Lambiance 2008 YTD Statistics 

 

In 2008 there were two first floor coach homes that closed with an average sales price of $787,450.00.  These sellers received 6.75% less than their asking price.  In 2007 there were no first floor coach homes that sold.  It is interesting to note that the first floor coach homes listed in 2008 showed a decrease of 14.95% from the asking prices in 2007.  Market time on active listing first floor coach homes went from 119 days in 2007 to 169 days in 2008.

 

There was only one second floor coach home that closed in 2008 for $750,000.00.  Those sellers received 16.20% less than their asking price.

 

First floor garden homes had an average sales price of $546,875.00 in 2008.  This was an increase of 5.3% over 2007’s figures for first floor garden homes.  This increase could be a bit misleading because there were only two closed first floor garden homes in 2007 and both of those were two bedroom units.  Of the 4 first floor garden closed sales in 2008 three of them were 3 bedroom units.

 

Second floor garden homes only saw one closed sale in 2008 for $548,000.00.  Those sellers received 5.88% less than their asking price.  The average sales price of this 2008 sale was 2.7% less than the 2007 figure.

 

L’Ambiance currently has 14 active listings on the market.  We had 8 closed sales in 2008.  This means that we have an inventory of L’Ambiance units that could last 21 months.  Low rises in Pelican Bay currently has an inventory that could last 18 months.  The National Association of Realtors says that a “normal” amount of inventory should be six months of inventory.  You can see that neither Pelican Bay nor L’Ambiance has a “normal” amount of inventory.  

 

How can we clear out this inventory?  My advice has not changed.  If you do not really HAVE TO sell, do not put your home on the market.  Out of 69 closed low rise sales in 2008, 31 of them were all under $499,999.00.  SIXTY percent of all low rises listed in Pelican Bay in 2008 FAILED to sell.  This market dictates that a home be priced at or under market in order for it to be sold and be in top condition.  The market is what the market is.

 

 

The Florida Association of Realtors published an article discussing  existing home sales.  This article talks about how home sales over $750,000.00 have dropped 47%.  FAR feels that mortgages that do not have government backing are experiencing a credit crunch.  Buyers who need jumbo mortgages are paying nearly 2% higher than conventional borrowers.  FAR feels that because of  higher interest rates, the higher end market is stalling.  

 

Moving on to other topics, were any of you able to see the mother alligator with her babies?  Mom was hanging around the North berm where it intersects with the boardwalk.  I managed to snap a photo of her and her babies when she was there the beginning of December.

 

alligator-with-babies-frontalligator-with-babies

 

I also managed to snap some photos of a heron a few days later.

 

heron1-pn

 

heron-2-pn

Want to see what cities people are in when they view our L’Ambiance site?  If you scroll down the blog to the very bottom, you will notice a box on the right hand side called “Feedjit”. This widget keeps tracks of the location of people viewing the site.  Not too long ago we had someone from Bangkok viewing our site! 

  

My listing at 2100 Lambiance CIR #101 recently dropped their listing price to $749,900.00.  The second floor listing that I have in Covington Row at the Crescent also recently dropped their asking price from $899,900.00 to $799,900.  If you are contemplating owning a larger unit and would like to see either of these two properties, please call me at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com  

 

Friends have been calling me today from Chicago telling me how horribly cold it is with the wind chill.  Where ever you are when you reading this blog entry, I hope that you are staying warm.

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One Comment on “LAMBIANCE 2008 YTD STATISTICS”

  1. nanci smaby Says:

    Thanks again for your great work at managing all the statistics! I wish the market was better! We are settling in San Diego and are renters sound like they are doing fine! With all the depressing news I can’t believe anyone would buy! Nanci

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