The Signal. Four residences closed in coastal Naples this week, and three of them were never-occupied new construction: a 2025 Aqualane Shores waterfront at $18.25 million, a 2026 Moorings estate at $8.4 million, and a 2025 Lake Park home at $4.775 million, every one paid in cash. The three new-construction closes cleared at a blended 4.4% under their final asks, a tighter give than the market has asked of earlier-vintage resales, and what separated them was the asking arc rather than the build: the calibrated Lake Park ask cleared in 39 days at 2.5% off, while the ambitious Aqualane number waited 326 days for its buyer at 8.7% off.
Drawn from MLS of Naples records, current as of August 21, 2026.
The Tape
The week's record, $4M+ coastal Naples.
- Tracked: 12 residences — 4 new active, 3 new under contract, 1 contract with contingencies, 4 closed.
- Closed: 4 sales, $52.425M combined, all cash, a blended 4.4% below the final asks (5.3% below the original asks).
- New construction among the closes: 3 of 4 — 625 21st Ave S ($18.25M), 405 Putter Point Dr ($8.4M), 850 10th St N ($4.775M).
- Largest close: 7613 Bay Colony Dr, Strand at Bay Colony — a $21,000,000 resale at $1,679/SF, closed at ask.
- Largest number of the week: 2999 Rum Row, Port Royal — a $29,950,000 new-construction ask at $4,088/SF, now under contract with contingencies.
- Widest markdown of the closes: 625 21st Ave S, Aqualane Shores — $1,745,000 (8.7%) under its $19.995M ask, 326 days.
- Tightest spread of the closes: 850 10th St N, Lake Park — $120,000 (2.5%) under its $4.895M ask, 39 days.
- Fastest to a close: 850 10th St N, Lake Park — 39 days, the shortest market time among the week's four sales.
- New under contract: Pine Ridge's 12 Banyan Rd ($6.649M), Bay Colony's 248 Point Salerno ($5.495M), and Pelican Marsh's 1331 Little Blue Heron Ct ($5.249M), all firmed this week.
- New to market: 4 actives asking $27.09M combined, from Moorings' 3280 Crayton Rd ($7.25M) to Royal Harbor's 1535 Dolphin Ln ($5.898M).
- Financing: all four closes cash.
The Lens
New construction did the bulk of this week's closing work. Three of the four residences that reached a closing table were never-occupied new builds, and together they took $31.425 million in cash off the board: a 2025 Aqualane Shores waterfront at $18.25 million, a 2026 Moorings estate at $8.4 million, and a 2025 Lake Park home at $4.775 million. What the group has in common is not price, which spans a four-to-one range, but how cleanly it cleared against ask.
As a group they settled 4.4% under their final asks. That is a tighter give than earlier-vintage resales have typically needed to move at this level, and it says buyers are paying close to the number on finished new product rather than demanding the long markdown older inventory often requires. The buyers wrote cash for warrantable, never-lived-in houses and did not extract a deep concession to do it.
Inside the group, how each seller priced the ask set the pace, and this is the part worth sitting with. The Lake Park home at 850 10th Street North opened at $4.895 million and closed at $4.775 million in 39 days, 2.5% off, the fastest and tightest close of the week. The Moorings estate at 405 Putter Point Drive opened at $9.495 million, was brought to $8.95 million during its listing, and closed at $8.4 million after 145 days. The Aqualane Shores waterfront at 625 21st Avenue South carried a single $19.995 million ask for 326 days before it met $18.25 million, an 8.7% trim and the widest cut of the four. Same product category, three different clearing times, and the through-line is the distance between the opening number and the market: the calibrated ask met a ready bid quickly, and the ambitious one waited most of a year for its buyer to arrive at a lower number.
The fourth close stands slightly apart and is worth naming as a counterpoint. 7613 Bay Colony Drive is a 2000 resale, not new construction, and at $21 million it was the largest close of the week; it traded at its asking number through an office-exclusive channel. Set beside the three new builds, it draws the contrast the week is really about. A finished older estate cleared at its ask on privacy and a 0.98-acre Gulf-front footprint, while the new construction cleared at a modest discount on the strength of being brand-new and warrantable. Both found cash. The week's lesson is not that one vintage beat the other, but that in each case the clearing number tracked how the ask was set against the market.
Spotlights
What it is: A 2025 new-construction waterfront estate on Egret Channel in Aqualane Shores, built by Wilbrett Construction Company, designed by Kukk Architecture, and finished by Freestyle Interiors per the listing. It runs 6,585 square feet with a main-floor primary suite, four upstairs en-suite bedrooms around a central living area, a wine cellar and study, and a resort-style infinity-edge pool on deep, wide water with no-bridge access to the Gulf. It closed for $18,250,000 in cash at $2,771 a foot of living area, the highest per-foot number of the week's closes.
Why it matters: It is the largest new-construction close of the week and the clearest read on where finished trophy new build clears in the boating streets. It carried a single $19.995 million ask for 326 days and met its buyer at $18.25 million, an 8.7% trim. That is the widest cut of the four closes and the longest road to a buyer, and it shows that even excellent new product, priced ambitiously out of the gate, takes most of a year and a real adjustment to find cash. The number that cleared is the useful comp; the asking arc is the lesson.
Tradeoff reality: The 326-day market time is a long carry for a finished house, and the $2,771 a foot reflects the water and the build year rather than a bargain entry.
Codex note: For a buyer who wants brand-new, never-lived-in construction on no-bridge Aqualane water and a house they can move into rather than build, a finished 2025 estate on Egret Channel rarely comes available already standing, and this close sets the working per-foot reference for it.
What it is: A 2026 new-construction estate by Diamond Custom Homes with interiors by Edge Interiors per the listing, on one of the Moorings' interior streets. It runs 5,045 square feet with a first-floor primary, a two-story layout, and a heated pool and spa, and comes with Moorings Beach Park access available through the community. It closed for $8,400,000 in cash at $1,665 a foot.
Why it matters: It is the middle of the week's three new-construction closes and shows the price mechanic between them. It opened at $9.495 million, was brought to $8.95 million during its listing, and closed at $8.4 million, 6.1% under the final ask and 11.5% under the original number, over 145 days. That arc, a mid-listing reset followed by a further trim to a cash buyer, is the working path for new product priced above the market's first read, and it cleared in roughly half the time the Aqualane waterfront needed.
Tradeoff reality: The lot carries landscaped rather than water views, and the clearing number came only after both a mid-listing reset and a further cut at contract.
Codex note: For a Moorings buyer who wants a finished 2026 house with deeded beach-park access a short distance from the water, this close marks where new construction on an interior Moorings street is actually trading, and the Beach Park access is a real neighborhood premium that is difficult to replicate.
Eyebrow-Raisers
A 2025 new-construction home in Lake Park, built by the Glendale Group of SW Florida per the listing, closed for $4,775,000 in cash at $1,069 a foot after 39 days, just 2.5% under its $4.895 million ask. It is the tightest spread and the fastest close of the week's four, and it is the calibrated-ask exemplar the Lens turns on: a builder who priced a finished 2025 house near the market got a near-full-price cash close in under six weeks, while the two new builds that opened higher took 145 and 326 days. At $1,069 a foot it is also the lowest per-foot number of the four closes, a reminder that in walkable-but-inland Lake Park the new-construction foot prices well below the waterfront and Moorings numbers above it.
A 2000-built beachfront estate on 0.98 gated acres in the Strand at Bay Colony closed for $21,000,000 in cash at $1,679 a foot, the week's largest number and its one resale among four closes. It traded at its asking price through an office-exclusive channel, so there is no discount story to tell here, only scale: at 12,505 square feet on a Gulf-front lot the sale works out to roughly $492 for each foot of the 42,689-square-foot parcel, land pricing that a 12,505-foot house sits lightly on. Set against the three new-construction closes below it, the contrast is the week in one line: a finished older estate cleared on privacy and beachfront acreage at its ask, while brand-new product cleared a few points under on the strength of being new. The listing references Bay Colony beach club and nearby resort access, details worth confirming directly with us before underwriting at this level.
The Ledger
What it is: A 2025 new-construction estate on the wide water of Treasure Cove in Port Royal, designed by Stofft Cooney Architects, built by Waterside Builders, and appointed by Jeffrey Fisher Home per the listing, with a four-car garage, a second-level VIP suite, and immediate Port Royal Club eligibility. It went under contract with contingencies this week off a $29,950,000 ask ($4,088/SF).
Why it matters: It carries the issue's largest figure and, at $4,088 a foot, its highest per-foot ask, and its move under contract is the trophy tier taking a step this week even as it stays a contingent agreement rather than a close. It has carried its number across a long marketing life, and the contract is still subject to contingencies, so where it settles against that ask is the figure worth waiting for. The Port Royal Club eligibility referenced in the listing is a detail worth confirming directly with us before underwriting at this level.
Tradeoff reality: The contract carries contingencies and sits on a long market history, so the clearing number is not yet set and the $4,088 a foot is where the ask stands, not where it trades.
What it is: A 2021 recent-vintage estate on 1.15 acres in Pine Ridge, with two attached two-car garages, a pool and spa, and award-cited interiors per the listing, that went under contract this week off a $6,649,000 ask ($1,449/SF) at 121 days.
Why it matters: It reads as an acreage-and-privacy buy inside a non-gated Pine Ridge address five minutes from the beach, and the contract at 121 days off an unchanged ask shows steady demand for recent-vintage estate product that was priced near its market from the start. Against this week's new-construction closes, it is the resale counterweight in the under-$10M tier: a 2021 house on land rather than a 2025-26 build, drawing its buyer without a reset.
Tradeoff reality: At a 2021 vintage on well-and-septic acreage the buyer weighs the ground and privacy against a house that is not brand-new, and the clearing number is not yet set.
A 1991 residence on a south-facing point lot in Vizcaya at Bay Colony went under contract this week off a $5,495,000 ask ($1,448/SF), a number brought down from $5.795M during its listing, at 161 days.
A 1996 residence in the Arbors at Pelican Marsh, extensively renovated per the listing, went under contract this week off a $5,249,000 ask ($1,225/SF), a number reset from $5.749M during its listing, at 164 days.
A 2026 new-construction Moorings home by SWF Construction and Real Estate came to market this week at $7,250,000 ($1,450/SF), with a residential elevator and Moorings Beach Park access.
What it is: A pre-construction corner residence in The Avenue, a mixed-use downtown Naples project delivering in 2027 per the listing, new to market at $7,150,000 ($2,373/SF), with a glass-enclosed sunroom, more than 1,300 square feet of outdoor living, and building amenities including rooftop pools and concierge service.
Why it matters: It is the week's clearest read on the downtown pre-construction condo tier, where the number is set by a 2027 delivery date and a walk-to-Fifth-Avenue address rather than by water frontage. At $2,373 a foot it asks well above this week's finished single-family new-construction closes on a per-foot basis, which is the premium the downtown-lifestyle low-rise product carries. It is pre-construction, so the buyer is purchasing a delivery date and a location, not a standing house.
Tradeoff reality: As pre-construction the residence is not yet built and carries a 2027 delivery, and the $2,373 a foot reflects the downtown address rather than any water view.
A 2023 recent-vintage Olde Naples residence by Provident Beach Houses, an HGTV Ultimate House Hunt finalist per the listing, came to market this week at $6,795,000 ($1,697/SF), a few blocks from the beach and Fifth Avenue South.
A 1974 direct-bayfront home in Royal Harbor came to market this week at $5,897,500 ($1,837/SF), positioned by the listing as a lot-value play on a wide, western-exposure stretch of Naples Bay with no-bridge water access.
The Question
If the asking arc separated a 39-day close from a 326-day one this week, does that discipline hold as more new-construction inventory reaches the market this fall?
My provisional read is that it does, and that pricing to the market rather than to the build cost is what will move the next wave of new construction. This week's three new-build closes settled 4.4% under their final asks, and the spread inside that group tracked the opening number almost exactly: the calibrated Lake Park ask cleared in 39 days at 2.5% off, while the ambitious Aqualane ask needed 326 days and 8.7%. If the fall's new-construction closes keep clearing within a few points of a calibrated ask while the high openers keep waiting out long markets, the signal is that buyers will pay near-ask for finished new product priced honestly. I would want a few more new-construction closes to print across the fall, calibrated and ambitious asks both, before treating this as an established rule rather than one week's clean example.
Codex Recap
This week's tell: New construction did the bulk of this week's closing. Three of the week's four cash closes were never-occupied new builds, a 2025 Aqualane waterfront at $18.25 million, a 2026 Moorings estate at $8.4 million, and a 2025 Lake Park home at $4.775 million, and as a group they cleared 4.4% under their final asks, with the asking arc rather than the build setting the clearing time. A $21 million Bay Colony resale was the largest single close, at its ask.
How to use it: Read the new-construction closes by their asking arc, not just their price: the calibrated Lake Park ask cleared in 39 days at 2.5% off, the ambitious Aqualane ask took 326 days and 8.7%. If you are pricing finished new product this fall, this week says the market will pay close to a number set honestly, and make you wait for one set high.
Jose & Renee Malachowski, P.A.
Naples Bay Luxury Homes at Premiere Plus Realty
(239) 319-8154 • Jose@NaplesBayLuxuryHomes.com
NaplesBayLuxuryHomes.com
Private advisory available by request.
MLS data is believed accurate but not guaranteed. Verify all details, dimensions, finishes, permits, HOA and condo rules, costs, club eligibility, boating specifications, and terms prior to transacting.
