MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare October 2014 to October 2013.
Marco Island MLS Statistics, for Marco Island only property, continues to be a seller’s market, according to Bette McGilvray, 2014 President, Marco Island Area Association of Realtors. Active inventory continues to decrease from a year ago and pending statistics for all property types are
- Single Family Home Activity: Fewer new single family homes were listed in October 2014 v. October 2013. The percentage was down 4.69% (61 v. 64). The total number of single family properties active on the market decreased by 18.95% (278 v. 343).
- The average sale price increased a whopping 81.28% ($979,620 v. $540397) while the median sale price for closed single family homes increased a substantial 39.22% ($710,000 v. $510,000).
- Total sold dollar volume for single family homes increased significantly from $15,671,500 in October 2013 to $29,388,587 in October 2014, an 87.53% increase!
- Condominium Activity: The number of new condo listings this October vs. last October increased by 7.14% (75 v.70) and total number of condos on the market is down from last year by 22.44% (311 v. 401).
- The average sale price for condos increased 31.96% ($434,843 v. $329,521), and the median sale price for condos was also up significantly by 46.00% ($365,000 v. $250,000).
- Total sold dollar volume for condominiums/ multi-family increased 12.65% from $13,510,350 in October 2013 to $15,219,490 in October 2014.
- Lot Activity: The number of new lots listed in October 2014 v. October 2013 increased 78.26% (41 v. 23).
- Total number of lots active on the market increased 21.86% (301 v. 247) from last year.
- Average sale price was up more than one-hundred percent at 121.76% ($459,667 v. $207,283) while median sale price was up 21.21% ($150,000 v. $123,750). (The 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.)
- Pending Sales: The number of pending’s for all property types is up 16.26%. Single family pendings in the comparison are unchanged at 43; Lots up 5.26% (20 v. 19); and multi-family up 21.67% (73 v. 60).
- Number of condos closed in the comparison is down 14.63% (35 v. 41). Number of single family homes closed is up 3.45% (30 v.29) in the October-to-October comparison while number of lots closed was down 25.00% (9 v. 12) in the same comparison.
- For all property types, average sale price was up 68.76% ($651,754 v. $386.210) while median sale price was up 35.94% ($435,000 v. 320,000).
The Marco Island Real Estate market has rebounded and is stronger than ever. We will continue to see shrinking inventory and a narrowing days on market for all property types.
Please consult a Realtor Professional for your Real Estate needs.
Bette McGilvray, President Marco Island Area Association of Realtors 2014.