Vanderbilt Beach Naples Update

With a 95% list price to sales price ratio running for the last 12 months on Vanderbilt Beach, I'd say today is a great day to be a SELLER in Vanderbilt Beach.  Here are some beginning statistics:

There have been 40 (*real) Vanderbilt Beach beachfront sales during the past 12 months.  Here's the stats on the Vanderbilt Beach closed sales:

• Average list price - $2,438,859
• Average list price/sq.ft. $736
• Average sales price - $2,369,512
• Average sales price/sq.ft. $708
• Average days on the market 206

The inventories are low with only 6 months of inventory on the open market which reminds me...let's talk about that.  Vanderbilt Beach has fallen victim to false reporting of beach or Gulf front designations on properties that are absolutely NOT true beachfront or Gulf front locations.  The two biggest areas that are often tagged as such is Regatta which is located here...technically over a block away from the sand:

As you can see from the photo above the properties located on the right side of the photo is Regatta and while it is very much a short distance to the beach it is not beachfront.
The second offensive rich location is located on the north side of Vanderbilt Beach best described as Bluebill Avenue:

Once again...a short walk to the sand (but a longer jaunt than those properties listed across the street from the beachfront properties on Gulf Shore Drive...or is it Gulfshore Drive? Believe it or not the tax records available to the REALTORS through MLS show it both ways depending on what property you're viewing. When you search Vanderbilt Beach properties you'll see both ways on the listings because the address from our tax data auto populates into our listings.  The tax data is wrong, the listing data is wrong. Welcome to my world :).  It's little reasons like this that makes it important to have an expert on location helping your identify properties that fit your requirements and helping you with paperwork saving you time and money.
Back on course...
Vanderbilt Beach properties for sale statistics:

• 20 Active Vanderbilt Beachfront properties exist today.
• Average list price - $1,874,471
• Average list price/sq.ft. - $658
• Average market time - 165 days

If you're paying attention it appears that prices are going down by 11% yet days on the market is also going down by a whopping 20%.  Friends, that whole "if it looks to good to be true it probably is" philosophy rings true here.  The reason why there's such a weird discrepancy in the numbers is because an ENORMOUS supply of inventory in Moraya Bay has closed during the past 12 months and to me, this is the most compelling part of my message.
MORAYA BAY NAPLES Statistics:
A whopping 21 condos in Moraya Bay have sold during the past 12 months that's 29% of the building unless you want to count the other 7 units that are under contract right now bring the sales % for Moraya Bay up to 38%...SAY WHAT? Yes, my friends, people have been purchasing these super high end beachfront condos out of season as well. 4 in June and 3 in July alone...WOW.  That's amazing! While we're on topic, yes pricing is creeping up unless you want to count that one they're keeping at really low price to get you in the door.  It doesn't cost more to have somebody on your side going in...and it's a pretty good idea to do so.  My job is to get people stuff and I'm good at it :).
What I've talked about mostly is YESTERDAY'S news so let's talk about now.
Of course the 7 units still on the market in Moraya Bay are going to feel brand new. While much of Vanderbilt Beach has aged, some of these buildings are going to feel substantially better than say some of the older ones in Coquina Sands or Moorings (located south of this location and closer to Olde Naples). Which is good because most of you really like new. If you can't or don't want to afford the millions it takes to get into Moraya Bay then you still have some FABULOUS choices at some pretty decent pricing so don't feel to inflated about that just yet.  If you'd like a list of my favorite Vanderbilt beachfront listings, call or email me.  :)
With Mercato on the scene just a couple of miles away and still commanding a very young and active vibe this late in the summer, I have to comment that Vanderbilt Beach is showing serious signs of reaping the rewards of cool, sexy night life being SO much closer than it had before it opened. Vanderbilt Beach used to be a four letter word or a complete unknown to much of my clientele but since the opening of Mercato and continued success, it's clearly a destination spot today.  Did you know it's closer to the Fort Myers airport? Between 15 and 25 minutes depending on the location of other Naples beachfront destinations...not bad.
Hey since we're talking about traveling let's talk about the weather. I understand many of you are experiencing cooler and in some cases soggier weather than normal. Breckenridge, Colorado saw their first snow today.  That's 40 days earlier compared to last year.  The tone coming from several of you is anxiousness as you have expressed your desires to purchase in Naples this year. I can help but I need your help. By the uptick of my traffic on my Naples real estate website I'm betting many of you are coming down at or around Labor Day.  I've alerted my team and will make every attempt to accommodate you but you need to contact me so I can assess your objectives and get you on the schedule so I can best serve you.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!
Of course if you have any questions, comments or feedback...I LOVE it! It reminds me some of you are really out there reading :).
Thanks so much for your support! Those of you who have chosen to use my services in which I actually get paid are helping me put my kiddo through school and helping me support my community that I love.