Tuesday, September 29, 2020

February Real Estate Shows 36.80% Increase

 

 

By Susan Ackerson

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare February 2015 to February 2014. According to Susan Ackerson, President, volume sold in this comparison of the Marco Island real estate market increased in dollars from $52,837,265 in February 2014 to $72,280,450 in February 2015, a 36.80% increase. The number of new single family listings that came on the market in February 2015 v. February 2014 decreased 15.58% (65 v. 77). The total number of single family properties active on the market decreased 23.22% (324 v. 422). The average sale price decreased slightly by 5.61% ($828,137 v. $877,369) while the median sale price for closed single family homes decreased by 6.15% ($675,000 v. $719,250). Total sold dollar volume for single family homes jumped from $22,811,600 in February 2014 to $31,469,200 in February 2015, a 37.95% increase. In regard to condo activity, number of new listings that came on the market this February v. last February increased 18.99% (94 v.79), but total number of condos on the market from last year decreased by 20.49% (326 v. 410). The average sale price for condos was down slightly by 0.42% ($528,803 vs. $531,047), while the median sale price for condos was up by 21.79% ($427,500 v. $351,000). Total sold dollar volume for mutli-family increased 23.39% from $24,428,165 in February 2014 to $30,141,750 in February 2015. Number of new lots coming on the market in February 2015 v. February 2014 increased 19.23% (31 v. 26). Total number of lots active on the market increased 17.86% (330 v. 280) from last year. Average sale price was up 26.28% ($554,500 v. $439,091) while median sale price was up a whopping 81.27% ($455,000 v. $251,000). Total sold dollar volume increased over 100% for an 118.13% increase ($10,535,500 v. $4,830,000). (Average sale price is total sales in dollars divided by the number of sales and median sale price means 50% of sales were above and 50% of sales were below.) Number of pendings for all property types is up 1.14%. Single family pendings in the comparison are up 1.59% (64 v. 63); Lots up 3.85% (27 v. 26); and multi-family up 1.19% (85 v. 84). Number of condos closed in the comparison is up 23.91% (57 v. 46). Number of single family homes closed is up considerably 46.15% (38 v.26) in the February-toFebruary comparison while number of lots closed jumped up 72.73% (19 v. 11) in the same comparison. For all property types, average sale price was up 3.49% ($628,526 v. $607,325) while median sale price was up 23.05% ($504,500 v. $410,000). 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 394-5616.

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