Posted tagged ‘What sells the best in LAmbiance’

2016 LAmbiance Real Estate Statictics

February 11, 2017

LAmbiance – Pelican Bay – Naples, FL –  Are you curious as to what happened to real estate prices in LAmbiance in 2016?  Let’s take a look at how 2016 compared to 2015.

First Floor Garden Homes

 Average Sales Price  # of Units  CDOM
 2015  $506,000.00  5  158
 2016  $507,378.00  7  179

First floor garden homes stayed about even in terms of pricing.  Note that the cumulative days on the market did increase.  There were six, 2 bedroom units that sold in 2016 and only one 3 bedroom sale. 

 2016  Average Sales Price  # of Units   CDOM
 2 Bedroom  $478,608.00  6  179
 3 Bedroom  $680,000.00  1  94


 Average Sales Price  # of Units  CDOM
 2015  $577,257.00  7  131
 2016  $606,200.00  5  143

In 2016, there were two, 3 Bedroom second floor garden units sold with an average price of $659,500.00.  There were also three, 3 Bedroom + Den units sold with an average price of $570,666.00.


 Average Sales Price  # of Units   CDOM
 2015  $735,000.00  3  60
 2016  $805,000.00  3  82


 Average Sales Price  # of Units  CDOM
 2015  $847,500.00  2  111
 2016  N/A  N/A  N/A

I have to say that units that have been updated have sold for better prices than the units that have been left in their original state.  Units with water views are also selling for better prices than units without water views.

What I see taking place in the low-rise market in Pelican Bay is an increase in market time, more price reductions coming through and more listings that are failing to sell.  As of today, there are 69 low-rise units on the market in Pelican Bay.  Since January 1st, there have only been 14 Pending sales and 9 Closed Sales reported. We currently have enough low-rise inventory to last 9 months.  A “normal” market is 6 months worth of inventory. I’ll be updating the site with statistics for low rises in Pelican Bay over the next week or so.

I also see the seasonal rental market in Pelican Bay as extremely competitive.  More owners are deciding to use their units thereby taking their units out of the rental market. Seasonal rental prices have increased.

I had hoped that after the U.S. election that our market would pick up to the speed it was at last season.  Sadly, I have not seen this happen.  The high end of the market seems to be exploding.  Take a look at the CONDO statistics for the Naples area market over 2 million.

There was an article published recently by the Florida Association of Realtors that discussed the nervousness of foreign buyers. Everyone living in Florida know how much foreign buyers contribute to the real estate market.

Hopefully world events will settle down and people will have more confidence in purchasing retirement or second homes. In the mean time, unless you absolutely, positively HAVE TO SELL, I would suggest that you wait to put your property on the market until we see more movement in the market. I would also suggest that before you decide to put your property on the market you consider making some updates to your unit.  If you are undecided on what to do, give me a call, I would be happy to discuss this with you.

Are you thinking of selling your LAmbiance home?  Please give me a call.  I have a list of buyers who are looking for specific units in LAmbiance. ESPECIALLY FIRST FLOOR THREE BEDROOMS UNITS.   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

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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 or call 239-594-2780.

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