LAmbiance Real Estate News

LAmbiance – Pelican Bay – Naples, FL – It’s been a while since I’ve updated this blog. For those of you who live in LAmbiance and know my husband, Don, our last few months have been taken up with Don’s back. He’s feeling better now. He jokes that for a while there he walked like “Grampa McCoy”. Needless to say I am thrilled he is feeling better.

So, what’s been happening with real estate in L’Ambiance? We currently have 4 active listings in L’Ambiance: http://bit.ly/LambForSale Of these four listings, 3 of them are second floor coach homes. These particular models used to be in high demand because of their open floor plans, great square footage and a two car garage. What I am seeing now is that the prices that have gotten so high that the buyers who can afford these units have issues with climbing stairs. The buyers who can climb the stairs find these units out of their price range. The market time on these units have increased.

We currently have two first floor coach homes pending. These first floor 3 bedroom units are in quite the demand. Both these units came under contract within a week! http://bit.ly/LambPending

Since the beginning of January 2019 Lambiance saw eight sales ranging from $490,000.00 to $875,000.00: http://bit.ly/2019LambSales EIGHT of these sales were GARDEN units that sold.

Pelican Bay has seen 82 low-rise sales so far this year with an average sales price of $556,854.00 and a median price of $536,000.00. 2018 saw 100 low-rise sales with an average sales price of $551,866.00 and a median sales price of $525,000.00. We’ve seen a slight increase with less sales.

The Naples Florida November 2019 Statistics: http://bit.ly/NaplesNov2019Stats is a long report that covers the Overall Market, the Single Family Market and the Condo Market. You’ll want to take a look at page 6 of the report that shows the number of condo sales betweeen 500K and 1 million, 440 sales, are down 5.5%. This is along the lines of the number of sales of low-rises in Pelican Bay being down in 2019. Page six also shows us that the number of sales for condos over 1 million total 373 sales. Page 17 shows the Naples Beach condos year to date figures show the average price up 8.9% to $997,441.00 and a median price up 5.5% to $675,000.00.

What will 2020 have in store for the real estate market? My crystal ball is still a bit too cloudy to tell you an answer!

Wherever you are enjoying your New Year, both Don and I wish you all a very happy and HEALTHY 2020.

Have you signed up for our new L’Ambiance Community website?  Because our new LAmbiance site is a secure site, registration is required. Shortly after you submit your registration, you will receive an email with login instructions. You will then be able to choose a password, login and browse the member-only sections of the site. The registration link is: https://lambiancenaples.com/registration

If you own in L’Ambiance, have you joined our L’Ambiance in Pelican Bay Facebook page yet? It’s a great source to ask questions and to get information. Just click here —> LAmbiance in Pelican Bay. Because I am keeping this a private page, you’ll be asked to answer a couple of questions so I can approve you on the page.

If you are thinking of selling your L’Ambiance unit, please call me before you do any major remodeling. I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in L’Ambiance. I’d be happy to discuss not only the pricing in L’Ambiance but the pricing for low-rises in Pelican Bay and condos in Naples to see how your unit fits into the equation.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.com and I will add you to the subscription list. Please know that I keep our e-mail address private.

Please note that I receive not compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in L’Ambiance in Pelican Bay. Her 41 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail at Lynn@NaplesBuys.com or call 239-594-2780.

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NAR: U.S. International Real Estate Investment Drops 36%

LAmbiance – Pelican Bay – Naples FL – I ran across this article in one of my trade emails this morning and wanted to share it with you.

Annual survey found a “confluence of many factors,” such as a decline in global growth (down 3.6% in 2018) and a tight housing inventory, led to the drop.

Source: NAR: U.S. International Real Estate Investment Drops 36%

There are many factors that affect our real estate market. Foreign buyers are certainly one of them.

As of today LAmbiance has 4 active listings ranging in price from $639,900.00 – $879,900.00. Our average market time for these active listings is 156 days. Since the beginning of the year, we’ve had 6 sales ranging in price from $490,000.00 – $875,000.00.  The average market time of these sold listings is 96 days.  That’s a pretty big difference from 156 days. Here’s a list of all the real estate activity in L’ambiance since the beginning of the year. https://matrix.swflamls.com/Matrix/Public/Portal.aspx?k=190465XHFL8&p=DE-63050616-167

Since the beginning of the year Pelican Bay has had 51 low-rise condo sales with an average price of $554,924.00. You can see from this chart the highest numbers of closed sales 15, fell between 400K-500K. We even had 8 sales under 400K!

Last year during this same time period Pelican Bay had 61 low-rise condo sales with an average price of $569,180.00. It appears we’ve taken a bit of a dip.  From January 1st – July 31st 2018, the most popular sales price range was between 600K-700K with a total of 13 sales.

What does all this mean?  At this moment in time, if you don’t have to sell, do not put your place on the market. If you really want to sell, you’ll need to price your unit as close to market price as humanly possible to get it to sell. Remember our active listing days on the market is at 156 days.

Have you signed up for our new L’Ambiance Community website?  Because our new LAmbiance site is a secure site, registration is required. Shortly after you submit your registration, you will receive an email with login instructions. You will then be able to choose a password, login and browse the member-only sections of the site. The registration link is: https://lambiancenaples.com/registration

If you own in L’Ambiance, have you joined our L’Ambiance in Pelican Bay Facebook page yet? It’s a great source to ask questions and to get information. Just click here —> LAmbiance in Pelican Bay. Because I am keeping this a private page, you’ll be asked to answer a couple of questions so I can approve you on the page.

If you are thinking of selling your L’Ambiance unit, please call me before you do any major remodeling. I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in L’Ambiance. I’d be happy to discuss not only the pricing in L’Ambiance but the pricing for low-rises in Pelican Bay and condos in Naples to see how your unit fits into the equation.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.com and I will add you to the subscription list. Please know that I keep our e-mail address private.

Please note that I receive not compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in L’Ambiance in Pelican Bay. Her 41 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail at Lynn@NaplesBuys.comor call 239-594-2780.

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LAmbiance in Pelican Bay Real Estate Statistics

LAmbiance – Pelican Bay – Naples, FL – Are you curious as to what is happening in the real estate market?  It’s been an interesting year so far. Let’s first take a look at what is happening in LAmbiance.

Since the beginning of the year, we have only had 3 closed sales. You’ll note all of them are first floor units.  Two of these sales are coach homes and one is a garden home.  All three of these listings had new kitchens and other updates.  At present we have two active listings.

Pelican Bay currently has 41 low-rise listings on the market.  Of these 41 listings, only 15 are under 500K.  As of today there have been 61 low-rise closed sales since the beginning of the year. When you review these closed sales, you’ll see that 27 of them were 500K and under. The rest of the sales were all over 501K,

The Naples Board of Realtors recently released the 2nd quarter statistics for 2018. When you look at this report make sure to scroll down to the Condominium Market Statistics page.  I found these statistics very interesting.  Most of our sales in L’Ambiance will be between 500K-1M.  Occasionally we get some units under 500K but these units usually need work.  If you look at the statistics by price, you’ll see the market between 500K-1M only represents 11.1% of all the sales in the 12-month period ending June 2018.  The number of closed sales are down 12% prices are down 5% and inventory is down 4%. The average days on the market are up 5%.

Now take a look at the market over 1M.  The number of closed sales are UP 52%. The prices between 1M – 2M are up 12% and the inventory is down 9%.  The higher price ranges are definite on fire right now.

Please take a moment and also view the Naples Beach Statistics on this report.  You’ll see the number of sales for the 12-month period ending June 2018 represent 21.35% of the market.  The median sales price is $650,000.00 and is down 4%.

When you view the closed sales for all of Pelican Bay, you’ll find that of the 221 closed sales since the beginning of this year, 96 of those sales were over 1 million dollars. That’s 43.4% of the market!

In my humble opinion, it would appear wealthy people are taking money out of the stock market and putting it into real estate.  The people who can afford to purchase in LAmbiance are being more conservative in spending their money on a second home.  Keep in mind the tax deduction for interest on a second home ceased to exist.  Florida is also dealing with harmful blue-green algae and red tide.  While we don’t have either here in Naples currently, these conditions might affect Buyers thinking about investing over a half a million dollars when making a purchase.

The average price for a low-rise in Pelican Bay in the first half of 2017 was $613,254.00.  The average price for a low-rise condo in Pelican Bay in the first half of 2018 was $570,293.00.  That’s a 7.1% decrease in the average sales price.

Low-Rises Closed Sales Pelican Bay First Half of 2017

 

Low-Rises Closed Sales Pelican Bay First Half of 2018 

 

You might hear Realtors complain about the lack of inventory in Pelican Bay.  You would think the lack of inventory would be driving the prices higher.  While that is happening in the 1-2 million dollar market, it is not happening in the lower price ranges.  If you are not in the over million dollar price range, this is not the market to be aggressive in your asking price; especially if you have not updated your unit.  Forget about “testing the market”.  If you do not have to sell, do not put your unit on the market.

Have you signed up for our new L’Ambiance Community website?  Because our new LAmbiance site is a secure site, registration is required. Shortly after you submit your registration, you will receive an email with login instructions. You will then be able to choose a password, login and browse the member-only sections of the site.The registration link is: https://lambiancenaples.com/registration

If you own in L’Ambiance, have you joined our L’Ambiance in Pelican Bay Facebook page yet? It’s a great source to ask questions and to get information. Just click here —> LAmbiance in Pelican Bay. Because I am keeping this a private page, you’ll be asked to answer a couple of questions so I can approve you on the page.

If you are thinking of selling your L’Ambiance unit, please call me before you do any major remodeling. I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in L’Ambiance. I’d be happy to discuss not only the pricing in L’Ambiance but the pricing for low-rises in Pelican Bay and condos in Naples to see how your unit fits into the equation.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.comand I will add you to the subscription list. Please know that I keep our e-mail address private.

Please note that I receive not compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in L’Ambiance in Pelican Bay. Her 40 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wiber via e-mail at Lynn@NaplesBuys.comor call 239-594-2780.

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2017 YTD LAmbiance Real Estate Statistics

LAmbiance – Pelican Bay – Naples FL – We are well into our way into season. Today I saw another car carrier dropping off cars in the Pelican Bay area.  This is one of the busiest seasons I have seen.  My phone has rung more than usual and the number of e-mails I normally receive is up.  This would indicate an active market.

Let’s compare what sold in L’Ambiance in 2017 to what sold in 2016.

FIRST FLOOR GARDEN HOMES

	Average Sales Price	# of Units	CDOM
2017	$549,800.00	3	190
2016	$507,378.00	7	179

Interesting that we had less than half the sales in first floor garden homes in 2017 than we did in 2016.  Market time has also increased.

SECOND FLOOR GARDEN HOMES

	Average Sales Price	# of Units	CDOM
2017	$565,750.00	4	78
2016	$606,200.00	5	143

We saw the prices go down on second floor gardens in 2017. I want to note that of the four sales in 2017; only ONE of the four was totally updated.  This updated unit wasn’t even on the market a week when it came under contract.

FIRST FLOOR COACH HOMES

	Average Sales Price	# of Units	CDOM
2017	$803,333.00	3
2016	$805,000.00	3	82

One of the first floor coach home sales in 2017 was a private sale.  I’m unable to calculate the cumulative days on the market because I am NOT able to obtain this information from tax records.

SECOND FLOOR COACH HOMES

	Average Sales Price	# of Units	CDOM
2017	$860,000.00	2	163
2016	N/A	N/A	N/A

When I look at the 2017 YTD figures for condos in the Naples Beach area, I see the median sales price for 2016 was $675,000.00. 2017 saw a 4% decrease to $645,000.00.  Inventory decrease by 5%.  At the end of 2017, the Naples Beach area had an inventory of 8.9 months.  Days of the market had also decreased.

Low-Rise condos in Pelican Bay now have an inventory that could last 6.82 months. That’s just a tad over the normal mark of 6 months for an average market. Low-Rise condos in 2017 in Pelican Bay had an average sales price of $573,280.00 and a median sales price of $540,000.00.  These numbers are down from the 2016 numbers of an average sales price of $589,451.00 and a median sales price of $560,000.00.

Since January 1, 2018 – February 7, 2018 there have been TWO low-rise closed sales in Pelican Bay.  In the same time period Pelican Bay has had 10 low-rises pending sales.

In 2017 there were 126 low-rise listing put on the market. 41 of those listings failed to sell either because the listing expired, terminated or withdrawn.  Roughly 32% of all listings taken did not sell.

What will 2018 hold in store for real estate prices?  Just based on the above numbers, I’d say Pelican Bay low rises are in a normal market. I don’t think we will see huge increases in prices this year and I also don’t think we’ll see huge price drops.

EVEN THOUGH I DO NOT HANDLE RENTALS, I can tell from the “chatter” I hear that there is very little rental inventory.  Owners who bought their units to rent until they could retire are now retiring and occupying units that used. Potential tenants are finding it more difficult to find places that will rent for 30 days. Prices on rental units in Pelican Bay seem to be increasing. If you are looking for a rental, I’d suggest you check out the rental page on our L’Ambiance site at:  https://lambiance.wordpress.com/about-lambiance/lambiance-in-pelican-bay-rentals/   The company I work at, Downing Frye Realty, Inc. has a website where you can search for rentals at: http://downingfrye.com/RealEstate/index/PropertyType/Residential-Rental/  on the right hand side of the screen put in the 1) Neighborhood you want 2) The TYPE you would want is Residential Rental.  This site will give you a good idea of rental prices.

If you own in L’Ambiance, have you joined our L’ Ambiance in Pelican Bay Facebook page yet?  To do so just click here —> LAmbiance in Pelican Bay. Because I am keeping this a private page, you’ll be asked to answer a couple of questions before you are approved for the page.

If you are thinking of selling your L’Ambiance unit, please call me before you do any major remodeling.  I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in L’Ambiance.  I’d be happy to discuss not only the pricing in L’Ambiance but the pricing for low-rises in Pelican Bay and condos in Naples to see how your unit fits into the equation.

Would you like to subscribe to L’Ambiance updates? E-mail me at Lynn@NaplesBuys.com and I will add you to the subscription list.  Please know that I keep our e-mail address private.

Please note that I receive not compensation for mention of any businesses or events. 

About the author: 

Lynn Wilber is a Real Estate Professional who lives in L’Ambiance in Pelican Bay.  Her 40 years of real estate experience and her area expertise have been valuable resources to LAmbiance Sellers and Buyers. For more information, please contact Lynn Wiber via       e-mail at Lynn@NaplesBuys.com or call 239-594-2780.

YouTube | Linkedin | Twitter | Facebook | Reviews | Lambiance on Facebook

First Quarter 2017 LAmbiance Sales Statistics

LAmbiance – Pelican Bay – Naples, FL – Everyone keeps asking me “How’s the market doing?”  Let’s take a look at the first quarter of 2016’s statistics and compare them with the first quarter of 2017’s statistics.

GARDEN HOMES

	2016	2017
Number of Sales	5	1
Average Sales Price	$624,600.00	$523,000.00
Median Sales Price	$639,000.00	$523,000.00

You can see that the first quarter of 2017 had a lot less activity than the first quarter of 2016.  In fact as of today, there are only 2 garden home sales since the beginning of January.

COACH HOMES

	2016	2017
Number of Sales	2	4
Average Sales Price	$807,500.00	$835,000.00
Median Sales Price	$807,500.00	$810,000.00

Coach Homes had a modest increase in their average and median sales prices.

Low Rises in Pelican Bay had an increase in price in the first quarter of Pelican Bay with just a tad more closed sales than the first quarter of 2016.  View 2017 Low-Rise Pelican Bay statistics HERE.   To view the first quarter statistics for the Naples market click HERE.Coach homes saw 4 sales in the first quarter of 2017 with a price increase in both the median and average sale prices.

There is only one unit for sale currently in L’Ambiance.  Pelican Bay has just 53 low rises on the market as of today.  53 low rise units for sale gives us a “normal” market of 6 months of inventory.

Until things become more steady in the world, I don’t think we are going to see the market have sizable increases.  Is it a good time to sell?  Yes, if you are aware of market pricing and don’t try to ask way too much for your residence. While Sellers would like our prices to increase 15% each year, it just is not going to happen at present.

If you are thinking about selling your L’Ambiance unit, please call me before you decide to do any major remodeling.  I’d be happy to discuss current market conditions and give you selling tips. I have a list of buyers who are looking for specific units in LAmbiance.  I’d be happy to discuss not only the pricing in LAmbiance but the pricing for low-rises in Pelican Bay and low-rises in Naples to see how your unit fits into the equation.

Looking for a home in LAmbiance or Pelican Bay? Click Here

Would you like to subscribe to LAmbiance updates? E-mail me atLynn@NaplesBuys.com and I will add you to the subscription list. Please know that I will keep your e-mail address private.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Pelican Bay. Her 39 years of real estate experience and her area expertise have been valuable resources to Pelican Bay Sellers and Buyers. For more information, please contact Lynn Wilber via e-mail atLynn@NaplesBuys.com or call 239-594-2780.

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