Less than three months of inventory!

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Florida: According to Corelogics, results  are as follows for single family prices, excluding distressed, for the period ending May, 2014: 12 month change up 9.6%, 3 month change up 3.5%, 1 month up 1.02%, peak to current down  28.69%, peak date May, 2006. Nationwide peak to current was down 9.3%. 

Pelican Bay:

Some fast statistics:  

We had 28 sales in July, down from the 29 in June, not significant.

However the drop in inventory has resulted in a drop to 2.85 months of supply from the 3.1 months supply in June.  According to economist Peter Brookvar at the Lindsay Group, nationwide the supply of homes for sale represents 5.8 months of demand (sales).

Average sale price for July was $1,227,919, the average for the three months ending July was $1,242,571 and the median for July was $982,500 and the median for the last three months was $825,000. The average days on the market for July was 121 with a low of 3 days and a high of 431, three month average was 97 days.