THIRD QUARTER
MARKET REPORT
PELICAN BAY 2021
®
www.gcipnaples.com www.gcipluxuryrentals.com
PELICAN BAY
Market Report 2021 Presented by: The Team at Gulf Coast International Properties® Timothy P. Savage, P.A. | Principal
®
VISIT US AT OUR NEW OFFICE: Waterside Shops 5415 Tamiami Trail North Suite 19 Gulf Coast International Properties® presents its Third Quarter Pelican Bay Market Report for 2021. This sought after report continues to be preferred not only by our discerning clientele, but by industry experts as well. World class integrated marketing efforts coupled with exceptional results have earned us the reputation as Naples’ premier boutique real estate firm. As the proven luxury market leader, Gulf Coast International Properties ® associates strive to exceed our clients’ expectations through uncompromising integrity and unprecedented concierge service. Our award-winning, locally owned and operated, multi-generational firm exemplifies the Naples reputation for luxury living. Specializing in exclusive one-of-a-kind estates, Gulf Coast International Properties ® invites you to experience the difference and to Live Exceptionally.
www.gcipnaples.com www.gcipluxuryrentals.com
PELICAN BAY MARKET REPORT 2021 | 2
Overall Pelican Bay Data Pelican Bay continues to be one of the most solid markets in Naples. The Total Dollar Volume Closed in 2021 3rd Quarter finishes at $171,240,860. This is $45 million over 3rd Quarter 2020 ($125,479,400).
THIRD QUARTER 2021
83
THIRD QUARTER 2020 $1,409,881
THIRD QUARTER 2020
117
NUMBER OF CLOSED SALES
THIRD QUARTER 2021 $1,841,300
NUMBER OF ACTIVE LISTINGS
NUMBER OF NEW LISTINGS
AVERAGE CLOSED PRICE
Inventory has continued to dwindle but demand remains incredibly strong.
THIRD QUARTER 2021
93
THIRD QUARTER 2020
89
THIRD QUARTER 2020 THIRD QUARTER 2021
210
43 Source: Southwest Florida MLS
3 | PELICAN BAY MARKET REPORT 2021
Single Family Homes Buyers have been clear on their desire for Homes in Pelican Bay. Properties that need complete renovations or beautifully updated have commanded a premium over 3rd Quarter 2020. The 3rd Quarter Volume Closed totalled $31,558,560. This has increased 6.9% when compared to 3rd Quarter 2020 ($29,374,500). Previously, buyers had strong preferences regarding an updated home vs. a property that needed renovations. That pattern has dissipated as buyers who preferred an updated home are becoming more willing to undergo the renovations themselves. Sellers should not be concerned about listing a
THIRD QUARTER 2021 $2,868,960 THIRD QUARTER 2020 $2,447,875
NUMBER OF CLOSED SALES
AVERAGE CLOSED PRICE
property that needs updates as they can still command a premium.
THIRD QUARTER 2020 THIRD QUARTER 2021
11 Source: Southwest Florida MLS
high-Rise Condominiums
The prices in Pelican Bay and Bay Colony high-rise residences continued to surge as the supply outstripped the demand. Inventory has decreased with only two residences currently available in the Bay Colony high-rise and only 11 high-rise residences available in Pelican Bay. The shortage of inventory shows buyers have a preference for living in Pelican Bay. Pelican Bay high-rise residences' Total Closed Volume was $63,325,500 for 3rd Quarter 2021
THIRD QUARTER 2021 $1,919,015
THIRD QUARTER 2020 $1,076,174
NUMBER OF CLOSED SALES
AVERAGE CLOSED PRICE
compared to 3rd Quarter 2020 with ($24,752,000). This was a 61% increase in volume.
THIRD QUARTER 2021
THIRD QUARTER 2020
33
23
Source: Southwest Florida MLS
www.gcipnaples.com www.gcipluxuryrentals.com
PELICAN BAY MARKET REPORT 2021 | 4
Villas Villas have become increasingly popular due to the exterior livable space, yet less to manage than a Single Family Home. An average 10 Days On Market in 3rd Quarter 2021 and the 21.9% increase sale price over 3rd Quarter 2020 makes this trend very clear. 3rd Quarter 2021’s Total Volume Sales
THIRD QUARTER 2021 $1,926,286
THIRD QUARTER 2020 $1,504,000
NUMBER OF CLOSED SALES
AVERAGE CLOSED PRICE
surpassed $13 Million ($13,484,000), which is an increase from $12,032,000 in 3rd Quarter 2020.
THIRD QUARTER 2020
8
THIRD QUARTER 2021
7 Source: Southwest Florida MLS
Low/Mid-rise Condominiums
The low and mid-rise residences in Pelican Bay total closed dollar volume was $29,480,800 for the 3rd Quarter, a gain of 33% over last year. The average price of the low and high-rise residences is $818,911, 24% over 2020 in the 3rd Quarter.
THIRD QUARTER 2021 $818, 911
THIRD QUARTER 2020 $623,872
NUMBER OF CLOSED SALES
AVERAGE CLOSED PRICE
Currently there are only five residences on the market and 18 are currently pending.
THIRD QUARTER 2021
36
THIRD QUARTER 2020
32 Source: Southwest Florida MLS
5 | PELICAN BAY MARKET REPORT 2021
Bay Colony Condominiums and Homes Bay Colony high-rises 3rd Quarter 2021 Closed Sales Volume was $35,220,000 and 3rd Quarter 2020 Closed Sales Volume was ($40,227,000). Even though that was a -14% decrease from last year the average prices in Bay Colony increased 64% with only eight properties sold compared to
THIRD QUARTER 2021 $4,402,500
THIRD QUARTER 2020 $2,681,800
NUMBER OF CLOSED SALES
AVERAGE CLOSED PRICE
15 residences sold the year before.
THIRD QUARTER 2020
15
THIRD QUARTER 2021
8 Source: Southwest Florida MLS
GCIP MARKET STATISTICS
2021
2020
YEAR TO DATE AS OF 10.11.2021
YEAR TO DATE 01.01.2020 - 12.31.2020
$836,500,610
$787,100,342
LISTED & SOLD | CLOSED SALES
LISTED & SOLD | CLOSED SALES
www.gcipnaples.com www.gcipluxuryrentals.com
PELICAN BAY MARKET REPORT 2021 | 6
High-Rise
GCIP Pelican Bay Sales
Montenero: 7575 Pelican Bay Boulevard, #1003
SOLD
$2,795,000
Represented the Buyer
Salerno: 8930 Bay Colony Drive, #904
SOLD
$2,200,000
Represented the Buyer
Dorchester: 6075 Pelican Bay Boulevard, #PH-B
SOLD
$1,995,000
Represented the Buyer
Marbella: 7425 Pelican Bay Boulevard, #1703
SOLD
$1,700,000
Represented the Seller
St. Laurent: 6849 Grenadier Boulevard, #1005
SOLD
$1,665,000
Represented the Buyer
St. Kitts: 6585 Nicholas Boulevard, #1705
SOLD
$1,300,000
Represented the Seller
St. Maarten: 6101 Pelican Bay Boulevard, #1402
SOLD
$1,020,000
Represented the Seller
St. Nicole: 5550 Heron Point Drive, #604
SOLD
$1,010,000
Represented the Seller
St. Nicole: 5550 Heron Point Drive, #1702
SOLD
$885,000
Represented the Seller
Grosvenor: 6001 Pelican Bay Boulevard, #503
SOLD
$850,000
Represented the Buyer
St. Nicole: 5550 Heron Point Drive, #1002
SOLD
$835,000
Represented the Seller
St. Nicole: 5550 Heron Point Drive, #304
SOLD
$735,000
Represented the Seller
St. Nicole: 5550 Heron Point Drive, #203
SOLD
$710,000
Represented the Seller
Single Family Residences Bay Colony Shores: 7190 Tory Lane
SOLD
$10,250,000
Represented the Buyer
Georgetown: 6513 Thomas Jefferson Court
SOLD
$6,850,000
Represented the Seller
Pelican Bay Woods: 714 Killdeer Place
SOLD
$6,600,000
Represented the Seller
Pelican Bay Woods: 715 Hollybriar Lane
SOLD
$6,325,000
Represented the Seller
Pinecrest: 800 Bentwood Drive
SOLD
$6,150,000
Represented the Seller
Oakmont: 812 Turkey Oak Lane
SOLD
$3,490,000
Represented the Buyer
Georgetown: 6605 George Washington Way
SOLD
$2,975,000
Represented the Seller
Pelican Bay Woods: 6561 Ridgewood Drive
SOLD
$2,200,000
Represented the Buyer
Pelican Bay Woods: 713 Teal Court
PENDING
$6,675,000
Represented the Seller
Pelican Bay Woods: 815 Buttonbush Lane
SOLD
$1,794,000
Represented the Buyer
Oakmont: 700 Pine Creek Lane
SOLD
$1,780,000
Represented the Seller
Carlton Place: 363 Carlton Place
SOLD
$1,810,000
Represented the Seller
Cocobay: 7807 Cocobay Court
SOLD
$1,800,000
Represented the Buyer
Bridge Way Villas: 655 Bridgeway Lane
SOLD
$1,675,000
Represented the Seller
Villa Lantana: 7070 Villa Lantana Way, #12
SOLD
$1,050,000
Represented the Seller
Las Brisas: 19 Las Brisas Way
SOLD
$950,000
Represented the Buyer
Villas At Pelican Bay: 6631 Trident Way, #D-3
SOLD
$895,000
Represented the Buyer
Villas
LIVE EXCEPTIONALLY
SOLD! 715 Hollybriar Lane
® www.gcipnaples.com www.gcipluxuryrentals.com
239.434.2558 OLD NAPLES: 1144 Third Street South ◆ 691 Fifth Avenue South ◆ Naples, Florida 34102 PELICAN BAY: Waterside Shops ◆ 5415 Tamiami Trail North, Suite 19 ◆ Naples, Florida 34108 BOCA GRANDE: 411 Park Avenue ◆ Boca Grande, Florida 33921
The most comprehensive luxury real estate network in the world. Source: Southwest Florida MLS as of 10.01.2021. All information is deemed reliable, but not guaranteed. ©2021 by Gulf Coast International Properties® An equal opportunity company. If your property is presently listed with another Agency, or is currently being marketed by Gulf Coast International Properties®, please consider this a matter of information and not an intent to solicit.