Strong Sales in Six Month Comparison of 2011 and 2012

Marco Island MLS comparison stats for the first six months released by the Marco Island Area Association of Realtors® for Marco Island only properties show a strong market according to Gerry Rosenblum, President.

 

597 Total Sales in 2012

514 Total Sales in 2011

 

$508,000 Average Sales Price in 2012

$541,000 Average Sales Price in 2011

 

203 Single Family homes sold in 2012 with a total dollar volume of $148 Million with an average Sales Price of $729,000

201 Single Family homes sold in 2011 with a total dollar volume of $139 Million with an average Sales Price of $689,000

 

287 Condominiums sold in 2012 with a total dollar volume of $123 Million with an average Sales Price of $428,000

257 Condominiums sold in 2011 with a total dollar volume of $124 Million with an average Sales Price of $483,000

 

95 Vacant Lots sold in 2012 with a total dollar volume of $30 Million with an average Sales Price of $311,000

49 Vacant Lots sold in 2011 with a total dollar volume of $15 Million with an average Sales Price of $312,000

 

Current Inventories as of July 10th compared to last year:

 

Current                                    Last Year

Single Family Homes            274                                     396

Condominiums                          480                                     665

Vacant Lots                          259                                     327

Total                                    1,073                                   1,478

 

Of Interest:

Total number of sales is up 16.14%, Total volume of sales is up 8.94%, Average sales price is down 6.2%.

The list to sell ratio is 89.89%, this translates into 10.11% being the amount “negotiated” off the listed asking price.

 

Recap:

Sales continue to remain strong and it seems apparent that the Real Estate Market on Marco Island is strengthening.

With 30 year interest rates at ALL TIME LOWS below 4%, many people are taking advantage of the economic climate to purchase their piece of Paradise. The most telling statistic may be the current inventory which is very, very low. With only 1,073 total Homes, Condos and Lots for sale it may be difficult to find the perfect property in your price range and it is more important than ever to have a Marco Island Realtor® working for you.