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Park Shore & Moorings Market Review

The Park Shore, Moorings, and Coquina Sands neighborhoods of Naples have witnessed an exceptionally active real estate market over the past year, and one that will certainly remain strong through the remaining months of 2013 and well into 2014. With lower inventory levels expected to continue and measurable appreciation on the horizon, this is a great time to enter this real estate market.

I’ve divided pertinent statistics into four specific categories for accuracy and relevance. Below you will find current active and past sold statistics for Gulf front Condominiums, Bayside Condominiums, Bayside Single Family Homes, and Non-waterfront Single Family homes in the greater Park Shore, Moorings and Coquina Sands residential areas.

Average Statistics for ALL Gulf Front Condos

Currently there are 123 active Gulf Front listings on the market, and 246 residences sold in the last year on the Gulf.

  • Average Active List Price: $1,665,268.00Meridian Club 701-small-004-Gulf Night View-666x445-72dpi
  • Average Active List Price/Square Foot: $ 582.41
  • Average Sale Price/Past Year: $1,310,669.00
  • Avg. Sale Price/Sq. Ft. in Past Year: $480.77
  • Average Days on Market: 198
  • Sales Price/List Price Ratio: 92.78%

As the inventory numbers continue to fall, the Days on Market number follows suit. With less to choose from in the market place, Buyers are forced to make quicker decisions are risk losing the property.  On the flip side, sellers have a better idea of exactly where the market value is for their home so there is less guessing and price adjusting, thus less time on the market.

Two Bedroom Gulf Front Condos

Meridian Club 701-small-001-Living Room at Sunset-666x445-72dpi

  • Average List Price: $833,945.00
  • Average List Price/Square Foot: $436.35
  • Average Sales Price: $777,769.00
  • Average Sales Price/Square Foot: $437.40
  • Average Days on Market: 193
  • Sales Price/List Price Ratio: 93.70%

Three Bedroom Gulf Front Condos

  • Average List Price: $1,510,374.00
  • Average List Price/Square Foot: $512.51
  • Average Sales Price: $1,510,374.00
  • Average Sales Price/Square Foot: $512.51
  • Average Days on Market: 196
  • Average Sales Price/List Price Ratio: 92.13%

Four Bedroom Gulf Front Condos3991 Gulf Shore Blvd N Naples-small-008-Direct Unobstructed Gulf Views-666x445-72dpi

  • Average List Price: $3,548,333.00
  • Average List Price/Square Foot: $638.65
  • Average Sale Price: $3,206,719.00
  • Average Sales Price/Square Foot: $642.52
  • Average Days on Market: 262
  • Sales Price/List Price Ratio: 90.21%

Units with three bedrooms or more have really been very hard to find along the beachfront; especially with unobstructed Gulf views.  Those that have also been updated are one of the hottest tickets along the Gulf.

 Average Statistics for ALL Bay Front Condos

There are currently 48 Active Bay front Condos available and 154 sold within the last year.

  • Average Active List Price: $825,546.00View 2
  • Average List Price/Square Foot: $ 430.28
  • Average List Price in Past Year: $746,029.00
  • Average Sale Price in the Past Year: $692,728
  • Average Sale Price/Sq, Ft. in Past Year: $349.57
  • Average Days on Market: 187
  • Sales Price/List Price Ratio: 93.52%

We have seen a real resurgence in the bay front condo market in the last year.  Units priced under $350,000 are becoming almost impossible to find. Anything with updates are now priced in the high $500’s and $600’s.

Two Bedroom Condos on the Bay

  • Average Active List Price: $579,319.00
  • Average Active List Price/Square Foot: $381.95View
  • Average List Price in Past Year: $497,812.00
  • Average Sales Price: $467,920
  • Average Sales Price/Square Foot: $312.65
  • Average Days on Market: 177
  • Sales Price/List Price Ratio: 94%

Three Bedroom Condos on the Bay

  • Average List Price: $1,010,050.00
  • Average List Price/Square Foot: $465.41
  • Average List Price in Past Year: $1,111,407.00
  • Average Sales Price: $1,037,091.00
  • Average Sales Price/Square Foot: $430.00
  • Average Days on Market: 178Venetian Village
  • Sales Price/List Price Ratio: 93.26%

Four Bedroom Condos on the Bay

  • Average List Price: $2,897,500.00
  • Average List Price/Square Foot: $777.23
  • Average List Price in Past Year: $4,996,667.00
  • Average Sale Price: $4,400,000.00
  • Average Sales Price/Square Foot: $699.27
  • Average Days on Market: 136
  • Sales Price/List Price Ratio: 87.13%

Single Family Homes on the Bay

There are currently 13 Active Listings and 13 sold within the last year.

  • Average Active List Price: $3,357,231.00Naples/Marco Island
  • Average Active List Price/Square Foot: $ 864.01
  • Average List Price/Past Year: $2,991,615.00
  • Average Sale Price/Past Year: $2,734,385.00
  • Average Sale Price/Sq. Ft. in Past Year: $667.29
  • Average Days on Market: 251
  • Sales Price/List Price Ratio: 92.35%

New construction in both the waterfront and non-waterfront homes has been extremely robust over the last year.  Currently, there are over a dozen newly constructed or new construction projects on the market.  Driven by the rising prices for vacant lots and tear down homes, prices of these new construction homes have increased.

Non-Waterfront Single Family Homes

There are currently 59 Active Listings and 114 Closed within the last year.

  • Average Active List Price: $1,166,891.00796 Portside Drive Naples FL-small-001-Front at Night-666x445-72dpi
  • Average Active List Price/Square Foot: $ 497.75
  • Average List Price in Past Year: $1,115,597.00
  • Average Sale Price/Past Year: $1,056.139.00
  • Average Sale Price/Sq. Ft. in Past Year: $367.33
  • Average Days on Market: 100
  • Sales Price/List Price Ratio: 95.42%

 

This report is intended to give the reader a macro view of the beachfront and bay front condominium markets as well as the waterfront and non-waterfront single family home markets in Park Shore, Moorings and Coquina Sands. Prices vary widely among buildings and homes based on age, location and amenities. Contact Dustin for specific information on property in which you have a personal interest.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, LLC. Copyright 2013 SWFLMLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”