Thursday, August 16, 2018

Marco Island Real Estate Report – July 2018

Inventory Down 13% from Last Year

The inventory of homes, lots and condos for sale on Marco Island totaled eight-hundred seventy-two (872), down 13% from a year ago. A total of sixty-seven (67) properties sold in July, down 15% from July last year. Total dollar volume sold was $51 million, down 6% from July last year. Ninety-two (92) new listings came on the market in July, up 5% from last year.

July 2018 statistics

Homes

There were two-hundred forty-two (242) active home listings in July, down 26% from July 2017. Twenty-seven (27) homes sold for $25.6 million compared to thirty-three (33) and $23.2 million last July. Sales prices ranged from $295,000 to $4.8 million. Median price of a home sold on Marco Island in July was $785,000. Twenty-two (22) new listings came on the market in July compared to thirty-six (36) last year. List prices for a home on Marco Island range from $375,000 to $6.5 million.

Condos

Inventory for sale was three-hundred seventeen (317) condos in July 2018, down 10% from last year. Thirty-three (33) condos sold for $21.8 million compared to thirty-six (36) units and $16.1 million last July. Sales prices ranged from $115,000 to $2.4 million. Median price of a condo sold on Marco Island in July was $500,000. Forty-one (41) new listings came on the market compared to thirty-five (35) last year. List prices for a condo on the island range from $115,000 to $9.9 million.

Lots

There were two-hundred eighty-seven (287) lots for sale on Marco Island in July 2018, compared to two-hundred ninety-five (295) last year. Seven (7) lots sold for $3.6 million compared to fifteen (15) and $8.8 million last year. Sales prices ranged from $170,000 to $1.4 million. Median price of a lot sold on Marco Island in July was $354,000. Twenty-two (22) new listings came on the market compared to thirteen (13) last year. List prices for a lot range from $55,000 to $5 million.

As usual there is a wide range of properties for sale on Marco Island. Please check with a local Realtor® to help you find that just right property.

Written by Gary Elliott, President, Marco Island Area Association of Realtors®. Call the Association at 239-394-5616 or visit www.marcorealtor.com. Data courtesy of Marco Island Area Association of Realtors® Multiple Listing Service.

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