Tuesday, September 25, 2018

Marco Island Real Estate Report March 2018 | Inventory Down 13% From This Time Last Year

REAL ESTATE REPORT


Gary Elliott (Submitted Photo)

The inventory of homes, lots and condos for sale on Marco Island totaled one-thousand three (1,003), down 13% from a year ago. Along with that lower inventory came a decrease in sales and volume. A total of one-hundred one (101) properties sold in March, down 15% from last year. Total dollar volume sold was $68.6 million, down 14% from last year. One-hundred seventy (170) new listings came on the market in March, up 1% from a year ago.

March 2018 Statistics

Homes

There were three hundred twenty-three (323) active home listings in March, down 21% from March 2017. Twenty-nine (29) homes sold for $24 million compared to forty-two (42) and $38.7 million last March. Sales prices ranged from $375,000 to $2.25 million. Median price of a home sold on Marco Island in March was $725,000. Sixty-two (62) new listings came on the market in March compared to sixty-six (66) last year. List prices for a home on Marco Island range from $325,000 to $7.2 million.

Condos

Inventory for sale was three-hundred seventy-six (376) condos in March 2018, down 8% from last year. Fifty-six (56) condos sold for $32.1 million compared to fifty-nine (59) units and $27 million last March. Sales prices ranged from $122,000 to $1.8 million. Median price of a condo sold on Marco Island in March was $488,500. Eighty-seven (87) new listings came on the market compared to seventy-seven (77) last year. List prices for a condo on the island range from $110,000 to $6.9 million.

Lots

There were three hundred four (304) lots for sale on Marco Island in March 2018, down 6% from last year.  Sixteen (16) lots sold for $11.8 million compared to eighteen (18) and $13.3 million last year. Sales prices ranged from $85,000 to $2.9 million. Median price of a lot sold on Marco Island in March was $480,000. Twenty-one (21) new listings came on the market compared to twenty (20) 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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