Friday, September 18, 2020

Dollar Volume in Real Estate Sales Up 16%

SUBMITTED PHOTO

SUBMITTED PHOTO

By Susan Ackerson

MLS statistics have been released by the Marco Island Area Association of Realtors® for Marco Island only properties comparing January – September 2015 to the same period of time 2014. According to Susan Ackerson, President, total dollars volume sold of the Marco Island real estate market increased 16.31% from $544,120,403 (2014) to $632,901,691 (2015).

  • Fewer new single family listings came on the market in the January – September 2015 time frame vs. the same months of 2014 by a small 0.63% (467 v. 470). Pendings of single family properties in the comparison decreased 32.44% (431 v. 638). Single family homes closed since January show a decrease of 9.66% (327 v.362) from the same period in 2014.
  • The average sale price (total sales in dollars divided by the number of sales) and median sale price (50% of sales were above and 50% of sales were below) for closed single family homes was up 25.54% ($923,456 v. $735,562) while the median sale price was up 13.28% ($695,000 v. $613,500). Total dollar volume sold for single family homes was $301,970,062 for January – September 2015, up 13.40% from the same time frame in 2014 ($266,273,589).
  • In regard to condo activity, number of new listings on the market comparing year-to-date for 2015 with year-to-date for 2014 increased 2.04% (549 v. 538). The number of pendings in the condo category decreased 19.45% in the same comparison (596 v.740).
  • Number of condos closed in the comparison is up 4.59% (478 v. 457). Average sale price is up 14.97% ($559,317 v. $486,481 in 2014) while median sales price is up 10.67% ($409,500 v. $370,000 in 2014). Total dollar volume sold for condos year-to-date for 2014 was $222,321,614 vs. $267,353,466 in 2015) up 20.25%.
  • Number of new lots coming on the market 2015 increased 5.41% from 2014 (253 v.240). The number of lots pending decreased 2.28% (171 v. 175). Number of lots closed increased by 24.36% (148 v. 119). Average sale price decreased 1.86% ($405,812 v. $413,504 in 2014). Median sale price increased 28.71% ($323, 082 v. $251,000 in 2014). Total dollar volume sold increased 22.05% ($60,060,163 v. $49,206,950 in 2014).

For all properties, average sale price is up 14.86% ($657,219 v. $572,156 in 2014) and median sale price is up 6.09% ($470,000 v. $443,000 in 2014).

As always, please contact a local Realtor® professional if you have any questions.

Susan Ackerson is President for the Marco Island Area Association of Realtors®. Call 239-394-5616.

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