Tuesday, October 22, 2019

Location, Location, Location

A View of South End Condos. SUBMITTED PHOTOS

A View of South End Condos. SUBMITTED PHOTOS

CONDO REPORT
Gary & Sandy Elliott
www.marcoislandcondoguy.net
www.SandyElliottInteriors.com

Location, Location, Location is a familiar rule in real estate and the best locations come at a price. Marco Island is a great location with world class beaches, accommodations, amenities and restaurants creating a fabulous lifestyle with a commensurate price tag. Condos on the island are located in four distinct geographic areas. There are 4,200 condos on beaches, 3,000 on canals and waterways, 700 on the Gulf side and another 2,800 inland. For the last three years about 5% of all the condos on the island change ownership each year. That’s an average of 565 condos per year.

For people who enjoy strolling, swimming, fishing, sunning and shelling then a condo at South Beach, Tigertail Beach, Hideaway Beach or Marco’s Crescent Beach is for you. 124 beachfront condos are listed for sale this week.

Beachfront condo.

Beachfront condo.

These condos tend to average 2,000sqft in size and are listed for an average of $562/sqft. The median price is $620,000. The lowest priced beachfront condo is $219,000.

Condos on the south or Gulf side of the island have great views of the Gulf and most come with fishing piers, swimming pools and lots of amenities. There are 18 Gulf condos for sale this week averaging 1,700 sqft with an average list price of $464/sqft. The median price is $700,000. The lowest price condo on the Gulf is $569,000.

For people who like boating and water views then a waterfront condo is for you. Water direct condos have open access to the Gulf and back waters. Water indirect condos have one or two bridges for your boat to go under on the way to open water. This week

A view of the Commodore Club.

A view of the Commodore Club.

there are 65 waterfront condos for sale. On average they are 1,400sf and are listed for an average of $340/sqft. The median price is $390,000. The lowest priced condo on water is $169,000.

For people who want to enjoy the lifestyle of Marco island with access to boating and Residents Beach there are 60 inland condos are for sale this week. Inland condos listed for sale tend to be just over 1,000 sqft with an average list price of $254/sqft. The median price is $220,000. The lowest priced inland condo is $89,500.

From a location point of view it appears that a beachfront condo is likely to be twice as expensive on a $/sqft basis and twice as large as an inland condo. No matter what location you choose Marco Island provides a great lifestyle for everyone lucky enough to afford it.

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