Sunday, February 24, 2019

Marco Real Estate Activity Grows, Prices Vary

 

 

REAL ESTATE REPORT By Gary Elliott, President Marco Island Area Association of Realtors®

Marco Island real estate activity continues to grow in units sold and in sales volume. Inventory is down and prices of homes, condos and lots are as varied as ever. Year-to-date (YTD) trends:

Total number of property sales up 5%
YTD, and total market sales volume
up 8% YTD
2017 YTD sold homes 352/$334m;
2016 YTD sold homes 333/$318m
2017 YTD sold condos 434/$237m;
2016 YTD sold condos 429/$220m
2017 YTD sold lots 125/$70m; 2016
YTD sold lots 102/$54m
2017 YTD total sold 911/$641m;
2016 YTD total sold 864/$592 million

November Inventory is down 17% from last November

Active listings for single family homes are 291 compared to 366 last year or 20% less. Condo listings are 324 compared to last year’s 392 or 17% less. Lot listings are 279 compared to 316 last year, or a decline of 12%. November Prices

Median sales price of a single-family home rose to $840,000 compared to $792,000 last November. Median sales price of a condo is $359,000 compared to $377,500 last year. Median sales price of a lot is $115,000 versus $334,000 last year.

Marco Island has a wide range of prices for homes, condos and lots sold as indicated by these stats for November:

Home sold prices ranged from
$295,000 to $8.5 million.
Condo sold prices ranged from
$112,500 to $3.5 million.
Lot sold prices ranged from $80,000
to $3,625,000.
Home list prices ranged from
$330,000 to $8,950,000.
Condo list prices ranged from
$110,000 to $8,500,000.
Lot list prices ranged from $49,900 to
$4,995,000.

Data courtesy of the Marco Island
Area Association of Realtors® Multiple
Listing Service. Please contact your local
Realtor® to find your best buy on the island. Call 239-394-5616.

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