Bay Colony Naples Market Update

There were a total of 37 properties that closed in Bay Colony Naples Florida in 2009. That's just over half of what closed in 2008! Bay Colony like the rest of the Naples beachfront communities felt a little impact due to the economic downturn most likely from the dip in the stock market back in September 2008 among other factors.

Bay Colony was considered one of Naples shining stars when it came to real estate activity but sales traffic decreased considerably while we found inventories on the rise for the first time in years in 2009.

It's not just the economic downturn that kept buyers away. Feedback I received while showing and discussing options with buyers this year resulted in a small handful of rejections for Bay Colony. Most prevalent were the fees Bay Colony fees. Bay Colony lives like a country club. When you add in the Bay Colony beach club, Bay Colony tennis club and other amenities Bay Colony has to offer, you know all that has to come with a price but the price is just something some buyers weren't willing to pay this past year. It's always been a topic of discussion but I haven't actually see it prevent buyers from buying as often as I did in 2009. It's all part of that, "we're trying to pay closer attention to our money" movement going on right now.

Another drawback I heard about was that Bay Colony is starting to show her age. The grounds, beaches and amenities are still fabulous but the units and common areas in many of the buildings and some of the single family properties available are REALLY starting to show their age. Hey, aging gracefully isn't just for the ladies as we all know. Contessa at Bay Colony has already had a fabulous face lift and there are some other building that have made improvements and talks are in the works with some of the other ones but....that didn't stop some people from choosing other locations this year due to the perceived maintenance and construction issues down the road.

The other behavior I saw from buyers this year was that pricing in Bay Colony was too high. They expected buyers to either come way off their price during negotiations or they just simply went elsewhere. In some cases low offers were made, buyers split only to come back later and find either their selections had sold or sellers were still not as flexible as they'd hoped.

Here's a run down of each Bay Colony community now:

Overall there are a total of 55 Bay Colony Listings. That's just over 14 months supply...not too terribly bad but not typical for Bay Colony either.

Bay Colony Shores:
5 Active
1 Pending
6 Closed in 2009
Bay Colony Shores had an excellent year and although this location was sluggish in 2008, she recovered nicely in 2009. Bay Colony Shores is STABLE.

Biltmore at Bay Colony:
4 Active
1 Closed in 2009
Biltmore at Bay Colony has some challenges!

Brighton at Bay Colony:
4 Active
2 Closed in 2009
There's a nice opportunity in Brighton at Bay Colony!

Carlysle at Bay Colony:
4 Active
2 Closed in 2009
Carlysle at Bay Colony has some challenges and there is some opportunity here as well.

Contessa at Bay Colony:
3 Active
5 Closed in 2009
Contessa did GREAT in 2009 and has some beautifully remodeled units available!

Mansion La Palma at Bay Colony:
1 Active
1 Closed in 2009
Mansion La Palma is a STABLE community.

Marquesa at Bay Colony:
3 Active
1 Closed in 2009
Marquesa at Bay Colony is a little uneven but there is a terrific valued property available right now!

Remington at Bay Colony:
5 Active
1 Closed in 2009 and a beach cabana :)
Remington at Bay Colony has an oversupply of inventory right now.

Salerno at Bay Colony:
5 Active
2 Closed in 2009
Salerno has an oversupply of inventory right now.

Strand at Bay Colony:
1 Active
3 Closed in 2009
Strand at Bay Colony did exceptionally well in 2009.

Toscana at Bay Colony:
2 Active
5 Closed in 2009
Toscana at Bay Colony did very well in 2009

Trieste at Bay Colony:
11 Active
3 Closed in 2009
Trieste has an oversupply of inventory right now...still.

Villa La Palma at Bay Colony:
0 Available
2 Closed in 2009
Villa La Palma at Bay Colony did well in 2009

Vizcaya at Bay Colony:
5 Active
1 Pending
1 Closed
Vizcaya at Bay Colony has a an over supply of inventory right now.

Windsor at Bay Colony:
2 Active
1 Closed
Not much to say about the market here in a broadcast but you can call me direct for details. :)

If I were going to list my Bay Colony property right now I would start by calling me. Call me if you want to sell your Bay Colony property and I'll give you a few very compelling reasons why.

If I were considering purchasing in Bay Colony right now, I would call me. Call me and I'll give you a couple of compelling reasons why you want me to assist you with negotiating your Bay Colony purchase.

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!