Sunday, May 19, 2019

Marco Island Real Estate Report, Year End 2018

Inventory up 8% from Last Year

The inventory of homes, lots and condos for sale on Marco Island totaled one-thousand twenty-five (1,025), up 8% from a year ago. A total of sixty-five (65) properties sold in December, which decreased 23% from December last year. Total dollar volume sold was $50.2 million, down 7% from December last year. One-hundred-fifty-seven (157) new listings came on the market in December, up 5% from last year. On a year-to-date basis, there were nine-hundred seventy-six sold listings during the year, which was down 4% from the previous year and total dollar volume for 2018 was $709.7 million, up just over 1% from 2017.

December and Year-end 2018 Statistics

Homes

There were three-hundred eighteen (318) active home listings in December, which was up 5% from December 2017. Twenty-four (24) homes sold for $24.5 million compared to thirty-three (33) and $31.7 million last December. Sales prices ranged from $371,000 to $2.4 million. Median price of a home sold on Marco Island in December was $863,500. Sixty-four (64) new listings came on the market in December compared to fifty-four (54) last year, which is an increase of 18.5%. List prices for a home on Marco Island range from $329,999 to $7.5 million. On an annual basis, there were three-hundred sixty-one (361) homes sold in 2018 versus three-hundred eighty-five (385) in 2017, a decrease of 6%, and total dollar volume for single-family homes sold was $363.6 million compared to $365.5 million in 2017, which is a 0.5% decline.

Condos

Inventory for sale was three-hundred eighty-five (385) condos in December 2018, up 14% from last year. Thirty-two (32) condos sold for $23.3 million compared to thirty-five (35) units and $18.6 million last December. Sales prices ranged from $100,000 to $5.7 million. Median price of a condo sold on Marco Island in December was $445,000. Sixty (60) new listings came on the market compared to sixty-two (62) last year. List prices for a condo on the island range from $105,000 to $9.9 million. On a year-over-year basis, there were four-hundred eighty-five (485) condos sold during 2018 versus four-hundred sixty-nine (469) in 2017, a 3% increase, and total dollar volume was $290.5 million compared to $255.5 million the previous year, which was a 14% increase.

Lots

There were three-hundred (300) lots for sale on Marco Island in December 2018, compared to two-hundred eighty-three (283) last year. Nine (9) lots sold for $2.5 million compared to fifteen (15) and $3.6 million last year. Sales prices ranged from $48,000 to $630,000. Median price of a lot sold on Marco Island in December was $212,000. Thirty-two (32) new listings came on the market unchanged from last year. List prices for a lot range from $49,900 to $5 million. On an annual basis, there were one-hundred eight (108) lots sold during 2018 versus one-hundred forty (140) in 2017, a 23% drop, and the total dollar volume was $51.2 million compared to $73.4 million the previous year, which was a 30% decline.

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 Steve Josselyn, 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.

Leave a Reply

Your email address will not be published. Required fields are marked *