MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties, show a continuing active market according to Gerry Rosenblum, President. Here is a recap of what happened in the Marco Island Real Estate market during October 2012.
73 Total properties closed for a total of $31 Million (including Time Shares and Commercial)
29 Single Family Homes for $15.3 Million – Avg. Sale price $528K
34 Condominiums for $14.3 Million – Avg. Sale price $422K
9 Vacant Home Sites for $1 Million – Avg. Sale price $103K
107 Total properties went under contract in October (including Time Shares and Commercial)
41 Single Family Homes
10 Vacant Home Sites
Inventory of what is currently on the market
298 Single Family Homes
254 Vacant Home Sites
The state of the Real Estate Market here on Marco Island is as strong as ever. The appetite for well priced property seems insatiable, and we continue to see strong sales numbers. The average sales price is holding steady, but we have not yet experienced any significant price appreciation. Inventories of available properties continue to hover around the 1,000 mark with the hope as season approaches more properties come on the market to meet the demand. I repeat, month after month, and quarter after quarter for 2012, the feverish pace of real estate sales continues on Marco Island. With mortgage rates still at historic lows now is a great time to buy.
As always, if you or someone you know is thinking of buying or selling real estate, please contact your local Realtor®.