20.5% of the Aqualane Shores Market is Pending Sale

06/9/16

 
The summer market in Naples is still going strong and Aqualane Shores is a good indication of this success. There are currently 31 active homes/lots in Aqualane Shores ranging in price from $2.329m at the bottom and peaking at a price of a bit over $10m. There are currently 8 pending sales in Aqualane Shores equating to 20.5% of the market, a very healthy statistic. Over the past two weeks (summertime) 4 homes have gone pending or 10% of the market. Aqualane has had 12 closed sales in the past 4 months with 2 of these homes selling for over $8m setting a new benchmark for this neighborhood.

Aqualane Shores had gone through somewhat of a lull through the season with some high-end sales but nowhere near the volume sellers had expected. This was due to overzealous pricing going into the season and resulted in a series of price reductions which only caused the market to become nervous. 

The comparative waterfront market of Moorings/Park Shore/ Coquina Sands has gone through a drought of available inventory on the water resulting in the least expensive property priced at $3.4m (not indicative of the true bottom compared to Aqualane). Aqualane has also lost ground in pricing to new homes and lot sales within the first few blocks to the beach. 

This summer will be a good time to get into the Aqualane Shores market if you look at the gap between its comparative neighborhoods. Also, considering that Aqualane is still below the lot value achieved in 2006-2007, where other like-kind markets have surpassed the previous highs set during that time.

For more information on this neighborhood or Naples in general please contact Adam Carriero at 239-641-3876 or adam@gcipnaples.com.

Please contact Adam Carriero at adam@gcipnaples.com or 239.641.3876. I am available for consultation on the Naples, Florida market.



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