Hello Naples Friends!
I've had my nose in the Park Shore beachfront statistics all day and wanted to share my outstanding findings! By the way, this post was provoked by the person who was searching Naples beachfront properties $300,000 and less (since I knew while they found my site, they were not successful in finding anything in Park Shore for that price. So let's start with what's available on the beach in Park Shore Naples Florida:
- 38 Park Shore beachfront homes and condos are on the market right now which is .01% of the entire Park Shore beachfront inventory.
- The lowest priced unit is on the market for $525,000 in Solamar at Park Shore
- The highest priced unit is on the market for nearly $14,000,000
- The least expensive unit with remodeling is $625,000 located in Terraces at Park Shore
- 12 of 38 have had extensive remodeling
- 157 Park Shore beachfront units have sold during the past 12 months
- There's less than 2 months of inventory on the market right now
- 160 units closed between 12 and 24 months ago
- Closed price per square foot values increased 6% over the year before
- On average Park Shore beachfront property buyers paid $33,491 more this past 12 months
- Average list price 2 years ago was $1,464,528 or $523/foot
- Average list price during last 12 months was $1,461,557 or $544/foot
- Average list price for current inventory $2,508,963 (not a typo)
- Average list price for current inventory is $2,508,693 or $606/foot
Le Ciel Park Tower experienced not just the highest priced unit to sell in its whole history but the second highest as well. 604 sold for $2,900,000 in June and PH201 sold for $2,800,000 3rd place sold for $2,565,000 in 2013.
Of the 38 active Park Shore beachfront listings, there are 10 units that have been on the market for 90 days or less. That's great news! We need more. Unfortunately, there are 16 units that have been on the market for well over a year. Granted so have recognized price corrections down but you would marvel over the idea of how many have increased their price over the duration of the listings....but that's Naples.
Here's what you can you expect going forward into 2015 for Park Shore Beachfront. Provided nothing crazy happen, I believe prices are going to continue to go up. With less than 3 months of inventory, most owners know they have the upper hand.
- I expect there to be more investor driven traffic this year in the form of remodeling and flipping.
- I expect buyers who are serious about purchasing are hovering over their favorite Naples real estate websites waiting for what they want. If you are one of them, I highly encourage you to contact me direct so I can place you on a VIP notification system that will alert you the moment something you like hits the market. There are others like you and your timing will make the difference between getting it and missing it this year.
- I believe a portion of our buying prospect base for this type of product is going to punt out due to pricing and the hassles of competing this year...probably around 25%.
- I hope but I don't guarantee we will have an influx of properties hit the market around October but I doubt the number of listings to be typical...I expect fewer listings especially if the long range weather forecasts are accurate. Our east coast friends and areas like Chicago and Michigan are supposed to see very cold weather this year. This type of weather makes people happy they have a place to escape and makes buyers anxious to purchase. It really could be a perfect storm.
What you can do if you're a buyer for Park Shore Beachfront:
The best thing you can do: If there's anything on the market that looks like your objective. Do it now! I can shoot video, FaceTime or Skype you through the unit and answer questions. We can make it ridiculous easy for you to purchase from afar.
If there's nothing now: Get on my VIP list and be prepared to strike when the property you like goes on the market. I can help you with the numbers so you can decide if this is a good value and you're making a wise purchase.
Last call: If you are just too busy or uninterested in Naples now, know the large majority of buyers feel the same way you do and you'll be fighting each other in line at the airport and wondering why there isn't a Realtor answering their phone at the height of season. Plan ahead by scheduling your dates with your Realtor so we can accommodate you the best possible way. If more owners will be in residence it will be difficult to get showing appointments without a 24 hour notice.
There is a whole batch of new real estate agents who do not know product, negotiating strategies or have relationships with listing agents. While they may be the distant cousin of your best friend's god daughter, this may not serve you well in negotiations. Go with a pro to avoid unnecessary drama. Call me. I will take great care of you.
What to do if you are a Park Shore Beachfront property owner who wants to sell: We need you and everybody with a license wants you. That's why if you call 3 different real estate agents you're going to get 3 different prices which may all be inflated. They know the way to your heart is through dollar signs and they will risk taking an overpriced listing in hopes to talk you down midway when you haven't sold. While you should be able to get some great money for your unit, don't be like those old tired 16 properties that have made a career in hanging out in the market. Our buyers are sophisticated and astute and you will be amazed at how educated they are. In fact some buyers are more educated than many of the agents. Your best bet is to price your property realistically judging on the condition of your unit. There is great value for properties that have been remodeled but there is a limit to what a unit will bring.
My team has an outstanding market knowledge and fantastic working relationships with the other agents who sell Park Shore. Contact me today to get a detailed description of our marketing program, pricing strategy and our step by step philosophy on how we can successfully sell your home while making you money and keeping you out of trouble.
Ok, that's all for today.
Enjoy the rest of your summer after all, there's only 125 days til Winter!
Shannon Lefevre PA
Your Naples Smart Girl!