MLS statistics have been released by the Marco Island Area Association of Realtors® for Marco Island only properties comparing the second quarter of 2016 (April – June) to the second quarter of 2015. According to Dick Shanahan, president, total sold volume dollars for all property types was $217,865,724 in 2nd quarter 2016 v. $260,815,478 in 2nd quarter 2015, as the market remains steady.
The number of new listings for all property types that came on the market in the 2nd quarter comparison 2016 to 2015 increased 8.93% (427 v. 392). New single family listings coming on the market in the second quarter of 2016 vs. the second quarter of 2015 increased 2.19% (140 v. 137). The number of new lots coming on the market in the comparison increased 1.52% (67 v. 66). The number of new condo listings coming on the market increased 16.48% (205 v. 176).
The total number active listings for all property types in the quarterly comparison increased 14.91% (1,025 v. 892). Total active single family properties increased 16.55% (324 v. 278). Active lots listings increased 8.68% (338 v. 311) and active condo listings increased 25.78% (322 v. 256) in the quarterly comparison.
In the quarterly comparison, median sale price was up 11.17% from $470,000 to $522,500 for all property types, said Dick Shanahan, president. Median sale price for single family homes was unchanged in the quarterly year-to-year comparison at $710,000. Median sale price for lots was up 14.39% from $330,000 to $377,500, while median sale price for condos increased 2.44% from $410,000 to $420,000. (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 18.78% in the 2nd quarter of 2016 v. the 2nd quarter of 2015 (320 v. 394). Single family closed was down from 137 to 117; lots were down 49 to 28 and condos were down 204 v. 167.
It is always a good time to buy on Marco Island! As always, please contact a local Realtor® professional if you have any questions.
Dick Shanahan is President for the Marco Island Area Association of Realtors®. Call 239-394-5616.