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 March 2012.
117 Total properties closed for a total of $63 Million (including Time Shares and Commercial)
41 Single family homes for $28.6 Million – Avg. Sale price $698K
54 Condominiums for $29 Million – Avg. Sale price $535K
20 Vacant homesites for $5.3 Million – Avg. Sale price $269K
85 Total properties went under contract in March
34 Single family homes
11 Vacant homesites
Inventory of what is currently on the market (as of April 13, 2012)
326 Single family homes
289 Vacant homesites
Sales continued at a feverish pace in March with 117 total properties closing.
With mortgage rates dipping below 4% many buyers are realizing their dream of owning a piece of Paradise.
With the total inventory of Homes, Condos and Vacant Lots down to 1,181 available properties, real estate buyers are having to look a little harder with their Realtor® to find what they want.
Comparing the quarterly numbers of this year to last, I can tell you that Home Sales are up 7.4%, Condos Sales are up 6.48% and Vacant Lot Sales are up a whopping 117%. If you are thinking of buying a lot to build on now or in the future, now would be a great time to do that.
Many people think that after Easter there is a slowdown in the market, but I think that many buyers that have been sitting on the fence are purchasing, and I predict that April may eclipse March in sales.
If you are thinking of buying or selling Real Estate, I encourage you to contact a Marco Island Realtor®.