2015 MIAAOR President
MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare November 2015 to November 2014. Inventory decreased 10.02% from a year ago for all property types, while at the same time the median sale price for all property types jumped 18.87% from $408,000 to $485,000 according to Susan Ackerson, president.
- The number of new single family listings that came on the market in November 2015 v. November 2014 increased 68% (84 v. 50). The total number of single family properties active on the market in the year-to-year comparison remained virtually unchanged at 1.03% (293 v. 290). The median sale price for closed single family homes increased 31.85% ($890,000 v. $675,000). Total sold dollar volume for single family homes increased in November 2015 to $15,606,200 from $12,645,250 in November 2014, a 23.42% increase.
- In regard to condo activity, number of new listings that came on the market this November v. last November increased 8.97% (85 v.78). Total number of condos on the market from last year decreased 18.24% (269 v. 329). The median sale price for condos increased 39.62% ($370,000 v. $265,000). Total sold dollar volume for multi-family increased 20.93% from $13,020,100 in November 2014 to $15,744,900 in November 2015.
- Number of new lots coming on the market in November 2015 v. November 2014 increased 22.58% (38 v. 31). Total number of lots active on the market decreased 7.45% (298 v. 322) from last year. Median sale price decreased 4.63% ($324,500 v. $340,250). Total sold dollar volume increased 257.81% ($4,224,000 v. $1,180,500).
(Median sale price means 50% of sales were above and 50% of sales were below.)
- Number of pendings for all property types is down 26.61%. Single family pendings in the comparison down 51.22% (20 v. 41); Lots up 14.29% (16 v. 14); and multi-family down 20.90% (53 v. 67).
- Number of condos closed in the comparison decreased 3.23% (30 v. 31). Number of single family homes closed decreased 10.53% (17 v.19) in the November-to-November comparison while number of lots closed increased 150% (10 v. 4) in the same comparison.
As always, please contact a local Realtor® professional if you have any questions.
Susan Ackerson is President for the Marco Island Area Association of Realtors®. Call 239-394-5616.