Monday, September 28, 2020

Real Estate Summary

By Susan Ackerson

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island-only properties compare October 2015 to October 2014. Inventory decreased 16.63% from a year ago for all property types, while at the same time the median sale price for all property types jumped 9.48% from $435,000 to $476,250, according to Susan Ackerson, president of the Marco Island Area Association of Realtors®.

  • The number of new single family listings that came on the market in October 2015 v. October 2014 decreased 16.39% (51 v. 61). The total number of single family properties active on the market in the year-to-year comparison decreased 14.69% (244 v. 286). The median sale price for closed single family homes increased 7.04% ($760,000 v. $710,000). Total sold dollar volume for single family homes decreased 11.54% in October 2015 to $25,997,500, from $29,388,587 in October 2014.
  • In regard to condo activity, number of new listings that came on the market this October v. last October decreased 19.74% (61 v.76). Total number of condos on the market from last year decreased 24.68% (238 v. 316). The median sale price for condos was down 19.18% ($295,000 v. $365,000). Total sold dollar volume for multi-family increased 12.86%, from $15,219,490 in October 2014 to $17,175,990 in October 2015.
  • Number of new lots coming on the market in October 2015 v. October 2014 decreased 26.83% (30 v. 41). Total number of lots active on the market decreased 5.9% (287 v. 305) from last year. Median sale price increased 100% ($150,000 v. $300,000). Total sold dollar volume increased 95.5% ($8,088,000 v. $4,137,000). (Median sale price means 50% of sales were above and 50% of sales were below.)
  • Number of pendings for all property types is down 48.25%. Single family pendings in the comparison down 39.53% (26 v. 43); Lots down 45% (11 v. 20); and multi-family down 53.42% (34 v. 73).
  • Number of condos closed in the comparison increased 5.71% (37 v. 35). Number of single family homes closed decreased 13.33% (26 v.30) in the October-to-October comparison while number of lots closed increased 44.44% (13 v. 9) in the same comparison.

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

Susan Ackerson is president of the Marco Island Area Association of Realtors®. Call 239-394-5616.

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