Pelican Bay Market Perspective:
During the fourth quarter of 2024, 158 new listings were added to the Pelican Bay market, up 41% from the previous year. Partly due to this spike in new listings, as of December 31, 10.13 months of supply posted, up from 6.38 months at the end of the third quarter. Closed sales for 2024 were down 10%, consistent with the year-over-year decline for the Naples market-at-large.
As our Fourth Quarter report for Pelican Bay denotes, conditions vary by market segment. Comparing months of supply, Single family homes at both Bay Colony and Pelican Bay posted the longest, at 60 and 14.82 months, respectively. While the shortest months of supply was 7.38 for the low- and mid-rise Pelican Bay condo category, and Pelican Bay Villas with 8.5 months.
With an increased number of options for buyers in this market, sellers should price units carefully, generally in line with recent like-kind closed sales and competitively with other available units in order to garner showings and especially offers. Regardless of market conditions, an informed pricing strategy combined with a comprehensive marketing plan like that offered by agents with John R. Wood Christie’s International Real Estate will position sellers for success.
We are pleased to announce that, for 2024, John R. Wood Christie’s International Real Estate, once again, was the top brokerage in total sales volume, listings sold, and transactions in Southwest Florida!*
*Broker ranking according to SWFLA MLS for residential improved property excluding manufactured housing in Lee and Collier Counties.
Click on either of the links below to view the Q4 2024 Market Report.
Q4 2024 Pelican Bay Market Report – flipbook
Q4 2024 Pelican Bay Market Report - for print
