No worries, I'm not hosting a Naples Real Estate throw down but I do want to bring some attention to The Dunes which is a high-rise/coach home development located at the corner of Bluebill Avenue and Vanderbilt Drive. While most of my clientele prefers Pelican Bay over The Dunes, an interesting percentage of you might consider The Dunes over Pelican Bay and this is the purpose of my post.
You might prefer The Dunes over Pelican Bay if you:
- have no/limited interest in a golf membership (because you know you can play golf at countless locations around the Naples area).
- prefer newer construction over older buildings.
- are interested in coach home or high-rise product only.
- like the idea of a drive-up beach club.
- likes a pool at their beach club.
- don't mind driving a short distance to entertainment etc.
- prefer to spend less and get more square footage for your money.
You might prefer Pelican Bay over The Dunes if you:
- loves the availability of 2 beach clubs with sand side umbrella and chair service.
- like the nature berm and boardwalk
- like close proximity to grocery, Waterside Shops, Philharmonic
- like in-building fitness centers (offered in most buildings)
- like the ability to join a stable golf club
- like kayaking, sailing, beachside aerobic classes
- like the ability to walk to the beach on quiet neighborhood streets
There are 68 properties for sale in The Dunes. That's about 10% of The Dunes. There's 7 pending and 48 sales year to date. That's 17 months of inventory which makes The Dunes nearly stable. The instability is reflective in the 88% sales price to list price ratio. The other point worth noting is the average price per square foot sold is only $323.00 and the average age of the unit sold is 2004. Average days on the market=209
Comparatively, I took all of the product in Pelican Bay except single-family homes and came up with 375 units on the market. That's about 5% of Pelican Bay. There's 18 pending and there have been 231 sales to date. That's a little over 19 months of inventory left on the market meaning that The Dunes is a little more stable than Pelican Bay right now. WHAT? Yes, it's true. Pelican Bay is also at an 89% list to sales price ratio but the average price per square foot is $391.00 and the average age of the unit sold is 1992. Average days on the market=216
It's just another fine example of how location can change everything...or some things anyway. So what does all this mean? Mostly this means that if you've not purchased a high rise on Pelican Bay Boulevard or a coach home in Pelican Bay because they're old and pricey...then maybe you should call me and we should go take a peek at The Dunes.
It also means that if you took a look at high-rises in Bay Colony but didn't purchase because they were too small, ready for an update and pricey that maybe we should go check out Moraya Bay...but that's a throw down for a different day.
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