Posted by: Ellie Penaranda / Downing-Frye Realty / 239-776-5077 Naples & Bonita Springs FL Real Estate
Naples, FL - Coquina Sands Market Report - Single Family Home Sales 2011 vs 2010
Coquina Sands is located just south of the Moorings and just across from Lowdermilk Park (on the Naples beach). It is the closest community to Olde Naples. Offering single family homes and condominiums, some of which are waterfront properties. With land values steadily increasing so many of the older homes have undergone renovations. Water sports enthusiasts can set cruise from Hurricane Harbor up through Doctor's Pass, and out to the Gulf of Mexico. Most homes are within walking distance to the beach, to the Naples Pier or to the Saturday's Fresh Market on 3rd St. Shopping or dining on the famous 5th Ave and 3rd Street are just a couple of minutes away.
Having closed out 2011 with the lowest real estate inventory in the Naples area in more than 5 years, it was an especially good year for single family home sales in Coquina Sands. First comes the sales activity, followed by a more stabilized inventory, and then appreciation always follows. In general, West of Route 41 (which is the coastal area), the market has stabilized as supply and demand reached an equilibrium.
- The number of sales almost doubled from 2010 to 2011 - a reflection of the increased activity level overall.
- The average sales price, though provided, is not a true measurement of the market in Cocquina Sands. One reason, Coquina Sands offers quite a range of homes and home prices - from older homes that require remodeling (in the $500,ooo range) to beachfront condos in the $3M.
- More distressed sales were removed from the market making those a rarity amongst single family homes in Coquina Sands, Moorings and Park shore neighborhoods.
- Sellers who ignored the market conditions and started at an unrealistic price, stayed on the market longer and, as a result, closed at a lower percentage of list price as they chased the market.
Lets look at some figures for Coquina Sands Home Sales 2011 vs 2010.
2010 / 2011
# of Closed Sales - Single Family 8 / 15
Average Sale Price - Single Family $880,625 / $784,937
# of Sales at Above Asking Price 1 / 1
Highest Closed Sale Price $1,450,000 / $1,875,000
Distressed Sales Share of Market 37.5% / 26.6%
If you are a buyer, taking your time and waiting till the end of season to pull the trigger on a home you like, or making low ball offers, might not work in your favor. Get yourself a good a gent, do your homework and be ready to negotiate a good deal. There are still some exceptional buys on the market but they are becoming so few and apart.
If you are a seller of a Coquina Sands home, you have chosen a more favorable time than the last few years to market your home and should expect better offers in 2012. Enter the market at the correct price from Day One and choose an agent that has strong Internet presence. You can look forward to a brighter 2012 but, keep in mind that buyers are keenly aware of market value - after all some of them have been watching for a while.
Search the MLS for Condos for Sale in Cocquina Sands
Search the MLS for Single Family Homes for Sale in Coquina Sands
Waterfront Homes for Sale in Coquina Sands
We are active in the sale and marketing of single family homes in the Pelican Bay, Park Shore, Moorings and Coquina Sands communities. You can benefit from our years of experience and local knowledge. Our strong Internet presence has attracted many buyers on the local, national and International levels.
