Seller comps — how do I price a Pelican Bay or Bay Colony unit when buyers also look at Kalea Bay and Infinity?

Key facts

• Metro context only (not a tower valuation): NABOR September 2026 (Collier excluding Marco): overall median closed price $575,000 (+4.5% YoY); inventory 4,240 (−17.3%); closed sales 623 (+2.5%); months of supply 5.5; average DOM 99. Use for seasonal timing narrative—never as a Mystique/Kalea/Infinity asking-price proxy. (NABOR via NaplesArea.com)
• Same NABOR September 2026 cycle (secondary summary of the official report): single-family median $747,500 (+3.1%); condominium median $400,000 (−2.4%); condo sellers received 94.0% of list (overall sellers 94.8%). Shows condo/high-rise is a distinct band from single-family—still not a Pelican Bay tower comp. (OS Florida summarizing NABOR Sep 2026)
• Official NABOR geography: reports cover Collier County excluding Marco Island via Southwest Florida MLS—every market figure in this post carries that scope. (nabor.com Market Statistics)
• Product geography honesty for seller narrative: Pelican Bay / Bay Colony = Naples Gulf-front / Pelican Bay masterplan (Foundation + optional clubs). Kalea Bay = North Naples waterfront (Vanderbilt Dr / Old Coast Rd). Infinity at The Colony = Bonita Springs / Colony / Estero Bay—competing lifestyle product, different city/county framing. Do not price as if they share one MLS micro-comp set without labeling geography. (pelicanbay.org; kaleabay.com; infinitycolony.com)
• Carry-cost transparency for PB/Bay Colony sellers: disclose Foundation FY2027 $3,435 + RCA $15,000 (buyer at closing) as mandatory master-HOA layer—separate from tower HOA and from Club Pelican Bay / Bay Colony Golf. Buyers comparing to Kalea/Infinity will ask; answer with estoppel figures, not guessed “monthly HOA.” (PBF Estoppel FY2027)
• Entity-stack honesty (PB sellers): Foundation (mandatory) vs PBPOA (voluntary) vs PBSD (MSTU) vs tower condo association vs private club—buyers shopping Kalea’s single-developer amenity story need this map so they do not misread Foundation beaches as Club golf. (PBPOA; pelicanbay.org/our-reason)
• Competitor marketing floors (label as marketing, not comps): Kalea—five towers, ~3,200 SF finished residences framing, 24-hr security, ~100k SF amenity center. Infinity—22 stories / 96 residences, ~3,000–4,000+ SF, marina/kayak/beach-club membership claims, “final release” pricing language. Use only to explain what touring buyers are also seeing—never as adjusted sale prices. (kaleabay.com; infinitycolony.com — marketing)
• Diligence sellers should refresh before pricing against those alternatives: current estoppel; SIRS/MI status; master policy summary; rental rules; special-assessment status; Foundation vs building layers (PB); honest marketing that Club membership does not transfer with the unit unless the club confirms. (DBPR Inspections; club eligibility pages)
• Pricing method claim (process only): CMA from closed Southwest Florida MLS comps in the same tower or truly comparable building, adjusted for view/floor/renovation/assessment overhang—metro condo median and competitor marketing are context, not substitutes for a tower CMA. (NABOR geography + process)

PB/Bay Colony vs Kalea vs Infinity (seller framing)

Lens	Pelican Bay / Bay Colony	Kalea Bay	Infinity at The Colony
Geography	Naples · Pelican Bay masterplan / Bay Colony	North Naples waterfront	Bonita Springs / Colony / Estero Bay
Master association	Mandatory Foundation (+ BCCA inside Bay Colony)	Developer / tower association stack (marketing)	Colony Foundation / PLCA membership claims (marketing)
Beach / marina claim	Foundation beaches; Bay Colony Beach Club; golf = eligibility only	Waterfront amenity center; no slip schedule assumed from public amenities page	Private marina + kayak park / beach club membership claims
What seller must disclose	Foundation FY2027 $3,435 / RCA $15,000; tower HOA; SIRS/MI; club non-transfer unless confirmed	Tower docs, assessments, rental rules from that association	Geography honesty + membership vs deeded marina interest
What is NOT a comp	NABOR $400k condo median as Gulf-front proxy; Infinity “final release” pricing; Kalea brochure floors	PB closed sales without geography labels	PB/Bay Colony tower CMA without Bonita label

Local example

A Bay Colony seller pricing a unit in October 2026 hears that “buyers are looking at Kalea and Infinity instead.” Correct seller narrative: (1) pull a tower-level Southwest Florida MLS CMA—not the county condo median, (2) disclose Foundation FY2027 $3,435 / RCA $15,000 and tower assessment status up front, (3) explain that Kalea is a North Naples waterfront amenity product and Infinity is a Bonita / Colony marina + club product—lifestyle competitors, not automatic micro-comps, and (4) refresh SIRS/MI and master-policy summaries so shoppers comparing branded new product see document-ready inventory. Using NABOR’s $400,000 condo median as a Pelican Bay Gulf-front proxy is how listings miss both local buyers and relocators.

What this means for sellers

Lead with geography honesty and carry-cost transparency. Touring buyers who also visit Kalea and Infinity are comparing lifestyle stacks; your job is to price the building, disclose the Foundation, and refuse guessed luxury averages.

What this means for buyers shopping across these three

Ask for the seller’s tower CMA assumptions and the Foundation/tower document pack. If a listing agent prices from competitor marketing floors or county medians alone, keep walking until a building-level closed-comp set appears.

FAQ

Can I price my Pelican Bay unit off the NABOR condo median?

No. September 2026’s $400,000 condo median (secondary summary of NABOR) is metro context for Collier excluding Marco—not a Gulf-front tower valuation. Use same-tower or truly comparable closed MLS comps.

Why do buyers compare Bay Colony to Infinity if Infinity is in Bonita?

Lifestyle competition—marina/club amenity marketing vs Gulf-front / Foundation living. Geography and membership stacks still differ; label them honestly in pricing conversations.

What Foundation figures should sellers disclose for FY2027?

Annual Assessment $3,435 and Resale Capital Assessment $15,000 (buyer at closing for deeds recorded on/after Oct 1, 2026)—from the Foundation estoppel, separate from tower HOA and from any private club.

Does Club Pelican Bay or Bay Colony Golf transfer with my unit?

Do not assume transfer. Disclose that club membership is separate and confirm any transfer path with the club in writing.

What should I refresh before going live against Kalea/Infinity shoppers?

Current estoppel, SIRS/MI status, master policy summary, rental rules, special-assessment status, and clear Foundation vs tower vs club language.

Sources

1. NABOR September 2026 market release (via NaplesArea.com) (accessed 2026-10-28)
2. NABOR — Market Statistics (accessed 2026-10-28)
3. OS Florida — Naples FL Market Report October 2026 (condo-segment context) (accessed 2026-10-28)
4. Pelican Bay Foundation Estoppel Certificate FY2027 (accessed 2026-10-28)
5. Pelican Bay Foundation — Our Reason (accessed 2026-10-28)
6. PBPOA — Who Does What for Pelican Bay? (accessed 2026-10-28)
7. Kalea Bay — Home (accessed 2026-10-28)
8. Infinity at The Colony — Home (accessed 2026-10-28)
9. Infinity at The Colony — Amenities (accessed 2026-10-28)
10. Florida DBPR Condo — Inspections (accessed 2026-10-28)

Your next step: Pricing a Pelican Bay or Bay Colony unit while buyers also tour Kalea and Infinity? Reach Mike Pepple, Engel & Voelkers Naples, at 239-777-8870 or Mike@GulfAndGreens.com.

Last reviewed October 28, 2026.

Community rules, HOA and club terms, fees, and availability described here can change and should be verified directly with the community, association, or club before you make a decision.