Saturday, September 19, 2020

May Real Estate Prices Up!

By Susan Ackerson

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare May 2015 to May 2014. With inventory decreasing 14.55% from a year ago for all properties, volume sold also decreased from $83,435,064 in May 2014 to $72,929,740 in May 2015, according to Susan Ackerson, President.

As always, please contact a local Realtor® professional if you have any questions.

(Average sale price is total sales in dollars divided by the number of sales and median sale price means 50% of sales were above and 50% of sales were below.)

The number of new single family listings that came on the market in May 2015 v. May 2014 increased 68.75% (54 v. 32). However, the total number of single family properties active on the market decreased 14.77% (277 v. 325). The average sale price increased 2.56% ($740,369 v. $721,918). The median sale price for closed single family homes also increased 4.93% ($660,000 v. $629,000). Total sold dollar volume for single family homes decreased in May 2015 to $31,095,500 from $42,593,164 in May 2014, a 26.99% decrease.

In regard to condo activity, number of new listings that came on the market this May v. last May decreased 3.64% (53 v.55), and total number of condos on the market from last year decreased 25.75% (274 v. 369). The average sale price for condos was up 31.89% ($606,888 vs. $460,147). The median sale price for condos was also up 34.51% ($477,500 v. $355,000). Total sold dollar volume for multi-family increased 7.04% from $31,750,150 in May 2014 to $33,985,740 in May 2015.

Number of new lots coming on the market in May 2015 v. May 2014 decreased 58.82% (14 v. 34). Total number of lots active on the market increased a slight 1.99% (307 v. 301) from last year. Average sale price was down 5.51% ($490,531 v. $519,118) while median sale price was up a whopping 111.81% ($381,250 v. $180,000). Total sold dollar volume decreased 11.07% ($7,848,500 v. $8,825,000).

Number of pendings for all property types is down 24.02%. Single family pendings in the comparison down 31.76% (58 v. 85); Lots down 13.64% (19 v. 22); and multi-family down 22.22% (56 v. 72).

Number of condos closed in the comparison is down 18.84% (56 v. 69). Number of single family homes closed is down 28.81% (42 v.59) in the May-to-May comparison while number of lots closed is down 5.88% (16 v. 17) in the same comparison.

Susan Ackerson is President for the Marco Island Area Association of Realtors®. Call 394-5616.

 

For all property types:

  • Average sale price
    was up 11.94%

    ($639,735 v. $571,473)
  • Median sale price
    was up 20.23%

    ($523,000 v. $435,000)

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