Park Shore, Moorings, and Coquina Sands Single Family Home Market Information

 

Naples, FL real estate as a whole is in very high demand, resulting in a reduced inventory.  This demand in addition to a very strong economy has also brought incredible growth in both residential and commercial new construction. 
Luxury waterfront neighborhoods, such as in Park Shore, Moorings, and Coquina Sands, have experienced some of the greatest demand, lowest Days on the Market (DOM) for new listings, and the greatest amount of new construction.

Currently, Park Shore/Moorings/Coquina Sands has 66 active listings, with 23 of these being new construction, and 10 of these located on a bay with Gulf of Mexico access.  Within the past 6 months, closed sales in this area totaled 86, with 11 being new construction and 17 with gulf access.  This means that we currently have 4.6 months of total inventory in this area.

Days on Market (DOM) is also a good indicator of the demand.  Out of the 86 single family home closed sales in Park Shore/Moorings/Coquina Sands, 14 had 10 or less DOM, 27 had less than 30 DOM, and 42 properties had less than 60 DOM.

     Listing Price       Sale Price       Price/Square Foot   

                                Minimum           $2,595,000        $2,200,000             $519.73

                                Maximum          $3,145,000        $3,125,000 $761.08 

                                 Average            $2,910,556        $2,749,333              $674.81 

Sellers are getting very close to asking price, which is another indicator of Demand.  With new construction homes without gulf access, the sale price was an average of 94.24% of the asking price.

There was only 1 closed sale in Park Shore/Moorings/Coquina Sands within the past 6 months for a new construction waterfront single family home with access to the Gulf of Mexico.  Asking price was $5,995,000, while the home sold for $5,825,000, with 63 DOM. 

                              Minimum      $553,500         $550,000                         77.27%

                              Maximum   $1,195,000      $1,150,000                       100.79%

                               Average       $912,639          $861,016 94.81%

For these lot value properties with no gulf access, the average DOM was 139.  10 of these 31 listings had 10 or less DOM, 18 properties had under 30 DOM, and 25 of the 31 had 66 or less DOM.

                          Minimum      $1,875,000            $1,800,000                    81.13%

                          Maximum      $2,900,000            $2,750,000                    97.11%

                          Average        $2,548,000            $2,329,500                    91.69%

                                            Minimum      $2,250,000 $572.97

                                            Maximum     $3,595,000 $878.61

                                            Average       $3,083,381                     $737.63

The price difference for new construction is most often due to location, size of the home, and quality of the finishes.

 

There are 2 new construction single family homes listed in Park Shore/Moorings/Coquina Sands on the bay with gulf access.  One is asking $4,750,000 at $1,046.72/sq ft, while the other is listed at $5,950,000 at $1,316.08/sq ft.

                                         Minimum           $729,900                               $244.28

                                         Maximum        $4,295,000 $1,024.59

                                          Average         $1,870,880 $504.81

                                        Minimum         $2,499,000                       $629.65

                                        Maximum        $5,295,000                       $966.51

                                        Average $4,103,625                       $825.84

In Park Shore, Moorings, and Coquina Sands and other luxury waterfront neighborhoods, there are desirable properties on the market, albeit fewer than in the past years, and new listings continue to go on the market daily. I speak from experience that if you are looking for a property in one of these neighborhoods that are in high demand, please ack quickly. In the current Naples real estate market, buyers do not have the convenience of "thinking about" a property for a couple of weeks, or in some cases days. When the right property for you comes along, grab it with a sense of urgency. You'll be glad you did! I understand this market and would be happy to help you. Call Tricia Raynor at 239-961-1801, or email me at [email protected].