Sales continue to remain strong and are stimulated by the fact that the 30 Year Mortgage recently dipped below 4%. Overall, buyer confidence seems to be steadily increasing as the stock market is rising.
Here is a recap of what happened in the Marco Island Real Estate market in January –
70 Total properties closed worth $34 Million (including Time Shares and Commercial)
22 Single family homes for $19.3 Million – Avg. Sale price $880K
31 Condominiums for $10.5 Million – Avg. Sale price $341K
15 Vacant home sites for $3.2 Million – Avg. Sale price $214K
73 Total properties went under contract in the month of January
29 Single family homes
12 Vacant home sites
Inventory of what is currently on the market
365 Single family homes
342 Vacant home sites
January 2012 and January 2011 Activity Comparison –
Inventory on Marco Island continues to decrease. Total new listings, single family homes, is down in the January 2012 to January 2011 comparison by 17.33%. New listings, multi-family are down 10.19% in the same comparison.
Total active listings, single family homes, is down 26.85% and total active listings multi-family is down 16.26% in the January 2012 to January 2011 comparison.
Pending listings, all property types, are up by 14.06%. Pending listings, single family homes is up 31.82%. Total all property types closed (Marco Island only) is up by 16.67%.