July 2012 MLS Statistics for Marco Island Sales Activity Remains Strong

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties, show a very active market according to Gerry Rosenblum, President.  Here is a recap of what happened in the Marco Island Real Estate market during July 2012.

83 Total properties CLOSED for a total of $38 Million (including Time Shares and Commercial) as follows:

27 Single Family Homes for $18.4 Million – Avg. Sale price $684K

37 Condominiums for $16.3 Million – Avg. Sale price $440K

19 Vacant Home sites for $3.6 Million – Avg. Sale price $189K

92 Total properties went UNDER CONTRACT in July (including Time Shares and Commercial) as follows:

34 Single family homes

40 Condominiums

18 Vacant home sites

Inventory of what is currently on the market

287 Single family homes

506 Condominiums

270 Vacant home sites

Recap:

I am happy to once again report that Real Estate sales activity on Marco Island remains strong. The benchmark 30 year fixed rate mortgage continues to remain at historic lows BELOW 4% which continues to fuel the sales market. Smart buyers continue to take advantage of this “cheap money” and are jumping in to get their piece of Paradise. It also appears that many buyers are end users, not speculators. Currently, the strongest individual market segment is vacant home sites with the number of Year-To-Date sales at 114, compared to 59 for the same period last year. That is a 93% increase in the number of sold home sites!

Please contact a local Realtor® to help you with your Real Estate needs. There may never be a better time than now.