Monday, September 28, 2020

Marco Island Real Estate Summary

 

 

By Dick Shanahan

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island-only properties compare January-December 2015 activity to the same time frame for 2014. For all property types, volume sold listings calendar year 2014 was $677,384,744, compared to $765,914,381 in 2015, a 13.06% increase. Median sale price comparison year-to-year was up 8.04%, from $435,000 to $470,000 for all property types, according to President Dick Shanahan.

• The number of new listings for all property types that came on the market in 2015 compared to 2014 rose slightly by 2.24% (1,820 v. 1,780). New listings for single-family homes increased 2.02% (643 v. 656). New listings in the condo market rose 3.93% from 737 to 766, while new listings for lots that came on the market in 2015 was essentially unchanged from 348 to 345, a slight 0.86% decrease.

• Sold listings in the year-to-year comparison were nearly the same at 1,179 in 2015 and 1,177 in 2014, a 0.16% change for all property types. Number of single family sold listings decreased 10.70% in 2015 from 2014, from 439 to 392. Condo sold listings increased in the comparison from 569 to 590, a 3.69% increase, and lot sold listings increased 20.94% (179 v. 148).

• The median sale price rose for each property type. Single-family median sale price rose 10.39% from $630,000 in 2014 to $695,500 in 2015. Condo median sale price rose 11.11%. The median sale price in 2014 was $360,000 compared to the median sale price in 2015 of $400,000. Median sale price for lots increased 21.15%. Median sale price in 2014 was $260,000 and increased to $315,000 in 2015.

(Median sale price means 50% of sales were above and 50% of sales were below.)

• Volume sold listings for each property type was: for single family homes $338,203,676 in 2014 and $358,396,762 in 2015, a 5.97% increase; for condos volume sold listings was up 19.65% from $271,849,404 in 2014 to $325,287,456 in 2015; and lots increased 26.69% from $58,995,414 in 2014 to $74,746,663 in 2015.

As always, please contact a local Realtor® professional if you have any questions. Dick Shanahan is the president for the Marco Island Area Association of Realtors®. Call 239-394-5616.

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