Gary & Sandy Elliott
The number of condo sales is up 11% this January over last January. Last week 404 condos were for sale on the island. Two bedroom condos remain the most popular segment of the condo market.
Half of these are two bedroom condos. The lowest priced two bedroom condo on the market last week is either a $129,900, 704 square foot Marco Manor or a 732 square foot Marco Villa condo. These condos are centrally located near businesses, shopping and restaurants. The most expensive two bedroom condo for sale is a two bedroom, extraordinary 2,945 square foot beach front cottage in Hideaway Beach listed for $1,695,000. There are only 11 of these beachfront cottages In Hideaway Beach – a unique 300 acre gated community with two miles of beach, executive golf course, boardwalk, tennis, fitness center, bocce, club pool with outdoor restaurant, pro shop and an unsurpassed club house offering fine dining with spectacular views of the gulf.
For comparison, there are 110 three bedroom condos on the market, starting at $249,900 for a townhouse style Estuary II to $4,095,000 for Madeira with panoramic views from Tigertail Beach to Cape Marco. The Madeira is Marco Island’s most luxurious beachfront community situated in the middle of Marco Island’s Crescent Beach. This condo is elegantly appointed with marble floors and with lavish resort style amenities.
Sixty-three listings are for one bedroom condos with a price range of $125,500 for a spacious 640 square foot Wexford Place to $497,000 for a 504 square foot beachfront weekly rental at Apollo. Studios account for 11 listings with a price of $118,000 for a beautifully remodeled studio at Seabreeze South to $299,999 for a totally updated and renovated Sunset House condo on the beach. Eighteen condos with four or more bedrooms are available and are appropriately priced at $863,500 for a 2,140 square foot light and bright condo with high ceilings at Mirage on the Gulf to $6,250,000 for an exquisitely furnished, magnificent penthouse residence with 7,165 square feet at Belize.
The median list price of a two bedroom condo last week is $495,000. Eighty-four of these two bedroom condos come furnished, 26 unfurnished, 10 partially furnished, 13 are listed with furnishings negotiable and 68 come turnkey. Furnished means all the big furniture will remain, but not necessarily the art, rugs and lamps; Unfurnished means the condo is being sold empty; Negotiable means the contents can be bought at an agreed upon price; Turnkey means everything (except personal items) is included in the sale.
Ninety-seven of these two bedroom condos are available on the beach, 45 inland, 44 on water and 14 on the Gulf. Two bedroom condos on the beach have a median list price of $635,000. Gulf two bedroom condos have a median price of $585,000. Two bedroom condos on the water have a median price of $420,000 and two bedroom inland condos are listed for a median price of $240,000.