PELICAN BAY MARKET REPORT - Q3 2023
$5.8B+
IN WRITTEN SALES VOLUME
A LOCAL LEGACY OF ACHIEVEMENT
23
LOCATIONS FROM MARCO ISLAND TO PINE ISLAND
800+
AGENTS THROUGHOUT SOUTHWEST FL
#54
AMONG REAL TRENDS TOP 500 BROKERS (2021)
1958
YEAR ESTABLISHED BY VISIONARY JOHN R. WOOD
HEADQUARTERED IN NAPLES, FLORIDA
INDEPENDENTLY OWNED & OPERATED; NOT A FRANCHISE
PELICAN BAY
PELICAN BAY MONTHLY MARKET REPORT Q3 2023
Pelican Bay Single-Family Homes
2
Pelican Bay Villas
3
Pelican Bay High-Rise Condominiums
6
Pelican Bay Low-Rise and Mid-Rise Condominiums
8
Bay Colony Single-Family Homes
10
Bay Colony Villas
12
Bay Colony Condominiums
14
1
PELICAN BAY SINGLE-FAMILY HOMES MARKET REPORT - Q3 2023 Data Represented on 12-Month Rolling Basis.
2017
2018
2019
2020
2021
2022
2023
Listed
51
64
48
55
45
38
23
Sold
34
40
27
40
52
34
25
$1,613,551
$2,250,974
$1,846,019
$2,926,963
$3,171,434
$4,410,485
$4,247,506
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
23 39.47
25 26.47%
$4,247,506 3.70%
8
3.84
12 MONTH NEW LISTINGS AND CLOSED SALES
12 MONTH AVERAGE SALES PRICE $5,000,000 $4,500,000
70
$4,000,000 60
$3,500,000
50
$3,000,000 $2,500,000
40
$2,000,000 30 0
$1,500,000 2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$1,000,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 25 properties sold, sales were down 26.47% from the preceding 12-month period when 34 properties were sold. New listings were down 39.47%, from 38 to 23. The average sales price, at $4,247,506 was down 3.70% from $4,410,485. As of September 30, 2023, inventory stood at 8 units while months of supply was 3.84 months.
2
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties categorized in MLS as single-family in Pelican Bay, excluding Bay Colony.
PELICAN BAY VILLAS MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
33
38
51
47
35
31
34
Sold
27
32
33
43
41
28
31
$1,118,148
$1,305,397
$1,249,159
$1,351,930
$1,532,781
$1,949,161
$2,192,984
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
34 9.68%
31 10.71%
$2,192,984 12.51%
4
1.55
12 MONTH NEW LISTINGS AND CLOSED SALES
12 MONTH AVERAGE SALES PRICE
$3,500,000
70
$3,000,000
60
$2,500,000
50
$2,000,000 40
$1,500,000
30 0
$1,000,000 2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$500,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 31 properties sold, sales were up 10.71% from the preceding 12-month period when 28 properties were sold. New listings were up 9.68%, from 31 to 34. The average sales price, at $2,192,984 was up 12.51% from $1,949,161. As of September 30, 2023, inventory stood at 4 units while months of supply was 1.55 months.
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties categorized in MLS as villa-attached or villa-detached in Pelican Bay, excluding Bay Colony.
3
PELICAN BAY HIGH-RISE CONDOMINIUMS MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
123
123
159
155
170
121
129
Sold
87
72
97
92
190
127
90
$1,288,426
$1,219,461
$1,870,585
$1,438,306
$1,715,857
$2,067,764
$2,497,917
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
129 6.61%
90 29.13%
$2,497,917 20.80
39
5.20
12 MONTH NEW LISTINGS AND CLOSED SALES
200
12 MONTH AVERAGE SALES PRICE
$3,000,000 $2,500,000
150
$2,000,000
100
$1,500,000
50
0
$1,000,000
2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$500,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 90 properties sold, sales were down 29.13% from the preceding 12-month period when 127 properties were sold. New listings were up 6.61%, from 121 to 129. The average sales price, at $2,497,917 was up 20.80% from $2,067,764. As of September 30, 2023, inventory stood at 39 units while months of supply was 5.20 months.
4
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties categorized in MLS as high-rise in Pelican Bay, excluding Bay Colony.
PELICAN BAY LOW-RISE AND MID-RISE CONDOMINIUMS MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
187
206
163
192
194
144
170
Sold
149
133
105
124
227
137
130
$605,281
$603,947
$577,385
$574,242
$683,112
$1,008,224
$1,067,619
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
170 18.06%
130 5.11%
$1,067,619 5.89%
30
2.77
12 MONTH NEW LISTINGS AND CLOSED SALES
12 MONTH AVERAGE SALES PRICE
$1,400,000 $1,300,000 $1,200,000
250
$1,100,000 $1,000,000
200
$900,000 150
$800,000 $700,000
100
$600,000 50 0
$500,000 2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$400,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 130 properties sold, sales were down 5.11% from the preceding 12-month period when 137 properties were sold. New listings were up 18.06%, from 144 to 170. The average sales price, at $1,067,619 was up 5.89% from $1,008,224. As of September 30, 2023, inventory stood at 30 units while months of supply was 2.77 months.
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties categorized in MLS as low-rise, mid-rise, or townhouse in Pelican Bay, excluding Bay Colony.
5
BAY COLONY SINGLE-FAMILY HOMES MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
9
6
9
10
13
1
7
Sold
2
4
5
1
14
3
1
$5,175,000
$3,537,500
$8,764,000
$14,700,000
$8,170,000
$6,794,000
$15,900,000
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
7 600.00%
1 66.67%
$15,900,000 134.03%*
6
72.00
12 MONTH NEW LISTINGS AND CLOSED SALES
12 MONTH AVERAGE SALES PRICE
18 16 $16,000,000
14
$14,000,000
12
$12,000,000
10
$10,000,000
8 6
$8,000,000
4
$6,000,000
2
$4,000,000
0
2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$2,000,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price*
SUMMARY With 1 property sold, sales were down 66.67% from the preceding 12-month period when 3 properties were sold. New listings were up 600%, from 1 to 7. The average sales price, at $15,900,000 was up 134% from $6,794,000. As of September 30, 2023, inventory stood at 6 units while months of supply was 72 months.
6
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties in Bay Colony Shores, Strand at Bay Colony.
BAY COLONY VILLAS MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
5
4
7
12
10
5
5
Sold
1
3
3
2
15
3
3
$3,200,000
$3,400,000
$2,300,012
$3,125,000
$3,331,000
$4,944,000
$4,134,358
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
5 0.00%
3 0.00%
$4,134,358 16.38%
1
4.00
12 MONTH NEW LISTINGS AND CLOSED SALES
12 MONTH AVERAGE SALES PRICE
16 14 12
$6,000,000
10
$5,000,000
8 $4,000,000
6 $3,000,000
4
$2,000,000
2 0
2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$1,000,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 3 properties sold, sales were static from the preceding 12-month period. New listings were also static, at 5. The average sales price, at $4,134,358 was down 16.38% from $4,944,000. As of September 30, 2023, inventory stood at 1 unit while months of supply was 4.00 months.
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties in Villa La Palma at Bay Colony, Vizcaya at Bay Colony.
7
BAY COLONY CONDOMINIUMS MARKET REPORT - Q3 2023
2017
2018
2019
2020
2021
2022
2023
Listed
53
57
45
61
47
23
19
Sold
23
33
33
32
62
24
13
$3,198,909
$3,144,879
$3,433,776
$2,573,156
$3,197,742
$4,522,193
$6,735,762
Avg. Sale $
SOLD
$
NEW LISTINGS
CLOSED SALES
AVERAGE SALES PRICE
CURRENT INVENTORY
MONTHS OF SUPPLY
19 17.39%
13 45.83%
$6,735,762 48.59%
5
4.62
12 MONTH AVERAGE SALES PRICE
12 MONTH NEW LISTINGS AND CLOSED SALES 70
$7,000,000
60
$6,000,000
50
$5,000,000
40
$4,000,000
30
$3,000,000
20
$2,000,000
0
2017
2018
2019 2020 2021 2022 2023
New Listings
Closed Sales
$1,000,000
2017
2018
2019 2020 2021 2022 2023
Average Sales Price
SUMMARY With 13 properties sold, sales were down 45.83% from the preceding 12-month period when 24 properties were sold. New listings were down 17.39%, from 23 to 19. The average sales price, at $6,735,762, was up 48.95% from $4,522,193. As of September 30, 2023, inventory stood at 5 units while months of supply was 4.62 months.
8
The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2023, and the proprietary compilation of that data by John R. Wood Christie’s International Real Estate, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data. Statistics include properties categorized in MLS as low-rise or mid-rise in Bay Colony.
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Celebrating 65 Years Serving Southwest Florida Founded in 1958, John R. Wood Properties is Southwest Florida’s longest running active real estate brokerage, widely recognized for our local expertise and legendary service.
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