MLS statistics have been released by the Marco Island Area Association of Realtors® for Marco Island only properties comparing the third quarter of 2016 (July – September) to the third quarter of 2015. According to President Dick Shanahan, total sold volume dollars for all property types was $149,832,451 in third quarter 2016 v. $152,254,501 in third quarter 2015 (down 1.59%) as the market stays steady.
The number of new listings for all property types that came on the market in the third quarter comparison 2016 to 2015 increased 9.12% (347 v. 318). New single family listings coming on the market in the third quarter of 2016 vs. the third quarter of 2015 decreased 3.33% (116 v. 120). The number of new lots coming on the market in the comparison increased 4.48% (70 v. 67). The number of new condo listings coming on the market increased 29.66%
(153 v. 118).
The total number active listings for all property types in the quarterly comparison increased 24.15% (987 v. 795). Total active single family properties increased 16% (290 v. 250). Active lots listings increased 15.66% (325 v. 281) and active condo listings increased 49.33% (336 v. 225) in the quarterly comparison.
In the quarterly comparison, median sale price was up 5.56% from $450,000 to $475,000 for all property types, said Dick Shanahan. Median sale price for single family homes was up 1.56% in the quarterly year-to-year comparison from $640,000 to $650,000. Median sale price for lots was up 93.33% from $150,000 to $290,001, while median sale price for condos decreased 9.09% from $385,000 to $350,000. (Median sale price means 50% of sales were above, and 50% of sales were below.)
Total number of closed for all property types was down 8.43% in the third quarter of 2016 v. the third quarter of 2015 (228 v. 249). Single family closed was up from 79 v. 90; lots were down 25 v. 43 and condos were down 107 v. 123.
It is always a good time to buy on beautiful Marco Island! As always, please contact a local Realtor® professional if you have any questions.
This data has been provided by the Marco Island Area Association of Realtors.