MLS statistics have been released by the Marco Island Area Association of Realtors® for Marco Island only properties comparing January – May of 2016 to January – May of 2015. According to Dick Shanahan, President, total sold volume dollars for all property types was $278,119,440 for the period January – May 2016 v. $389,607,765 for the same time frame in 2015 as the market continues to stay steady.
The number of new listings for all property types that came on the market in the January – May comparison 2016 to 2015 increased 7.87% (959 v. 889). New single family listings coming on the market in the January – May comparison of 2016 vs. 2015 increased 8.62% (340 v. 313). The number of new lots coming on the market in the comparison increased 12.57% (179 v. 159). The number of new condo listings coming on the market increased 5.37% (412 v. 391).
The total number active listings for all property types is currently 1025. Total active single family properties 333; active lot listings 347 and active condo listings 345.
In the five-month year-to-year comparison, median sell price was up 9.26% from $480,500 to $525,000 for all property types, said Dick Shanahan, President. Median sell price for single family homes was up 3.80% from $722,500 to $750,000. Median sell price for lots was up 24.62% from $329,000 to $410,000 while median sell price for condos decreased 0.82% from $423,500 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 in the January – May 2016 v. the January – May 2015 comparison as the market stabilized (420 v. 565). Single family closed was down from 195 to 150; lots were down 87 to 39 and condos were down 278 v. 221.
It is always a good time to buy your piece of Paradise 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.