Marco Island Real Estate Stats and Commentary January 2023 Big Year End Review

Total Value of All Property Sold on Marco Island DOWN 8% ($1.206 Billion vs. $1.312 Billion)

Total Number of Sales on Marco Island (All Property Types) DOWN 14% (817 vs. 947)

Number of Sold Single Family Homes UP 5% (345 vs. 328)
Number of Sold Condominiums DOWN 20% (398 vs. 495)
Number of Sold Single Family Vacant Lots DOWN 40% (65 vs.109)

Average Sale Price of a Single Family Homes Sold was $2,159,000 UP 003% from $2,153,000
Average Sale Price of a Condominium Sold was $967,000 UP 6% from $905,000
Average Sale Price of a Single Family Vacant Lot was $1,085,000 DOWN 12% from $1,229,000

The overall List to sell Ratio was 95%. This means that on average properties sold within 5% of their asking price. Put another way, the average sale price was negotiated down 5% from the asking price.  

Average days a sold property was on the market INCREASED from 50 days to 75 days.
This means properties were on the market 25 days longer than last year.

Current Inventory of Single Family Homes is UP 38% (176 vs.110) 
Current Inventory of Condominiums is UP 47% (205 vs.109) 
Current Inventory of Vacant Single Family Lots is UP 9% (90 vs. 82)


State Of The Real Estate Market Address

2023 was an outstanding year overall for Marco Island Real Estate.  However, 2022 was a little bit better, but that was then, and this is now. Without regurgitating the numbers above, I have for you here a synopsis and crystal ball prognostication. The market cooled off a tiny bit compared to 2022, probably due to the interest rate increases.  Even though about 70% of our deals are cash and the purchases are not directly affected by interest rate increases, many local buyers need to sell their properties elsewhere before they pay cash here.  Where they are selling up north, buyers are interest rate sensitive, hence, sales slow up north, and that causes a trickle-down slow down here.  It's that simple. Now, interest rates are cooling off a bit so I'm optimistic things will trend back up here.  However, this is a Presidential election year.  And you know what? I don't know what the heck is going to happen and I'm not touching that one with a 10-foot pole. These are some crazy times politically speaking and I'm glad I live here in my little bubble.  I can tell you that nobody is getting any younger, so if you have the money in the bank and you're thinking about buying your piece of Marco paradise, do it now. 

And now a little something for my faithful 7.6 readers. Recently I had a heart CAT scan and I went to a new cardiologist for the results. (So, yes, I do have a heart.) He was staring at me, then staring back at the computer screen with the results.  Finally, he said, "So you're really 60 years old?" I said "Yes".  He replies "Well you look about 48 to me, but your heart looks about 73". "You need to learn to relax, and here, take more pills" "That'll be $875 thank you and I'll see you in six months unless...".  So, I told my boys, Andy and Willy, who happened to be in town checking to make sure my will was all up to date, what the doctor said.  Andy said, "You should get some medical marijuana Dad it'll calm you down".  Well, I don't have a medical marijuana card so I couldn't go to the local pot store.  I don't know any drug dealers, so I couldn't go buy some in a dark alley either.  But, it turns out a new store opened on Marco and they advertise "No medical card needed".  I figured this was some scam, but hey I'm game, so the boys and I went into the store.  The tie-dyed shirt-wearing girl working there tells me there is some loophole in the law that allows them to sell their products and she guarantees the results, or my money back.  Again, I figure it's all just a scam and nothing is going to happen, but I hand over $60 and get 20 little gummy bear candies that are supposed to calm me down.   She gives me strict instructions to eat half of one, wait 1-2 hours, then maybe take another half if necessary.  I put them in a cabinet and forgot about them.  One night I remembered they were there and I decided to eat 4 of them, no training wheels for me. About 21 minutes later I'm staring at the TV screen and I'm watching a show.  That show features me and some people I've met in my life.  First, there was my neighbor Emerson from Long Beach Island, we used to call him Uncle Em.  Then there was my friend, Kenny, he was a skinny little kid and always afraid of everything. There was my other friend Richie who always wore a flannel shirt and a Cat hat, and was the dumbest kid in 3 counties, never saw him without a little bar straw in his mouth he chewed on. Another friend in the show was Michael, he always wanted to be a stupid doctor, specifically a heart transplant specialist, the kid never had any goals in life. At some point in the show, we were all walking on a sandy beach and some pygmy yoga goats started singing and dancing.  Wow, talk about entertainment. Out of nowhere my mom appeared on the show and she looked just like a beautiful angel, she told me to beware of some bad woman that I would meet along the way. Unfortunately, I thought she said bad cumin, so I just never ate Indian food. Anyway,  as Kenny, Richie, Michale, and I sang with the goats, we all skipped along the winding beach and ended up in Beach Haven New Jersey at the Deerskin Leather shop where I bought some soft faux leather slippers.  Right next door to this store is an antique shop called The Wizard of Odds. The owner was a funny little old man who was the mayor and called the shots in town. Throughout the show, some bad woman tried to take many things from me, especially those slippers, but while she got a lot, I hung onto those slippers. At the end of the show, a huge flood came and the bad woman was washed out to sea and could be seen melting into the western sunset.  Also, at the end, Kenny started taking steroids and grew to be big and strong. Richie enrolled in night school, learned his letters and numbers, and became an astrophysicist.  Micheal, well, he's now sticking hearts in people and every time he sees me he tells me he can fix mine. And, as the credits started to roll at the end of the show, the song "Africa" started to play, and we all know the band that does that song is Toto. Suddenly my phone rang and I was jolted back into consciousness and realized I wasn't watching a TV show about my life, I was merely hallucinating like Timothy Leary.  Wow, I looked down at my feet and was overjoyed to see my toasty faux deer skin slippers were on.  I answered the Facetime call and it was my boys Andy and Willy.  I told them about the crazy thing that had just happened to me, and at the same time, they both said "It's okay Dad, there's no place like home when you've had too many gummies". 

Now I know my 7.6 faithful readers are starting to see the Real Estate lessons that are embedded here, and they realize there are many.  First, and foremost your house or condo is your home.  Love it, take care of it, enjoy it, and hang onto it if someone or something tries to take it away. But, if that happens, know that you can get a new one. Second, just like you listen to your trusted pot dealer, listen closely to the instructions of your trusted real estate advisor as well. I can steer you out of trouble that you may unknowingly be heading into. Third, never under any circumstances eat 4 gummies. 

Now for the high and low sales for 2023.  First, the highest sale in the history of the Marco Island MLS was the Port Marco Trailer Park for $16,000,000, and yes as you know I was the listing and selling agent.  The most expensive home sale was 1589 South Barfield Court at $12,100,000.  The least expensive home was 201 Marco Lake Drive at $450,000.  Condos at Belize 2405 lead the way at $6,350,000 as the top dog, and Coquina Gardens #210 was the bargain at $170,000. For vacant lots we have 1071 South Barfield Drive closing at $11,000,000. WOW!  And for the least expensive lot we have 2043 Sheffield Ave closing at $190,000.  And a crazy side story to that lot is that at one time there was a home on that lot that I owned it and sold it for $425,000.  See, listen to me and you'll get rich.

Old nasty newsletters can be read at: https://viewmarco.blogspot.com/


Gerry Rosenblum

Broker Associate
Berkshire Hathaway HomeServices Florida Realty

2013, 2012 & 2007 President Marco Island Area Association of 
Realtors
2008 Realtor of The Year - Marco Island 

239-450-4770 (cell)
1-800-237-8817 (toll-free)
To View the Entire Marco MLS go to: www.viewmarco.com

Marco Island Real Estate Stats and Commentary October 2023

The following stats compare October 2023 to October 2022 

Sold Single Family Homes UP 24% (21 vs 17) 

Sold Condominiums DOWN 4% (23 vs 24) 

Sold Single Family Vacant Lots UP 200% (6 vs 2) 

Inventory: 

187 Single-family homes 

252 Condominiums  

88 Single Family Vacant Lots 

527 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS STARTING TO CLIMB! 

Summary: A total of $73 Million dollars worth of real estate closed on Marco Island in October 2023. Last October the number was $63 Million. The market is moving smoothly, nothing shooting up, no Chicken Little the sky is falling either. Interest rates broke the 8% mark, but with close to 70% of the deals on Marco being cash this does not impact our market much. However, those who need to sell their properties elsewhere and use tht money to buy on Marco, might be dealing with Buyers who are interest-sensitive and things could drag out for them. Remember, cash is King when it comes to Real Estate, and the Golden Rule is he who has the gold makes the rules. The stock market has had a nice run-up lately and when that happens all the cardiac patients start selling their stock to buy good old solid real estate. As a fringe benefit they can also then taper off on their Beta-Blockers and save money on prescriptions. Now, I'm not saying the stock market will make you die sooner, but why risk it? The average age of a Marco Island Resident is now approximately 109 years old, just saying it's some good living down here. We have some of the best doctors, dermatologists, dentists, podiatrists, bartenders, and plastic surgeons money can buy. Why just recently I had a nip and tuck done on my kidney and I swear it looks 20 years younger. 

As 7.6 of you have heard, I listed my own condo for sale, and not one of you stepped up to buy it, that's the thanks I get for years of writing this blog and making all of you rich by taking my advice. And for all you Wisenheimers who told me to get a new Realtor to sell my unit, I'll tell you this story.  I actually had someone call in who saw the listing online.  They asked me 1,547 questions about the unit, Association, and building, the only lie I told them was when they asked if the unit was haunted and I said "no", but that's a story for another day.  Anywho, their 1,548th question was to ask if I would represent them in the purchase of the unit. I said listen, the guy that listed that unit is a world-renowned realtor, his reputation is that he is a ruthless and shrewd negotiator and has been known to make other Realtors cry. They said, "That is exactly what we are looking for in a Realtor to represent us!"  I said "Then I'm your man, but I'm warning you, this guy is borderline crazy" -  "I know his shrink, and the shrink lays on the couch when this guy comes in for a session".  Well, we put together a solid offer, they signed it, and I told them I would do my best.  I then went to my kitchen and made a Manhatten knowing this was going to be a tough negotiation and I needed to calm my nerves. I then went into the living room looked at the signed offer on my condo and said out loud for me to hear "What is this agent nuts? Coming in at 10% off the asking price, the Seller is now insulted". The Seller and his agent were so upset by the offer that I went into the kitchen and made a Manhatten to calm myself down.  I then called the Buyers and said "Listen, the other agent said the Seller was offended by the offer, it is so low he wouldn't even counter it, you'll need to come up".  The potential Buyer's husband said, "First, I need to go take a Metoprolol because I feel a bit of angina coming on and I don't want my stent to blow out".  30 minutes later they called back and said "We can come up to 95% of the asking price".  I said, "That sounds great, I'm pretty sure I can get the Seller to take that, he's nuts if he doesn't".  In reality, I wasn't so sure what the Seller would do, so I figured I better go to the kitchen and make a Manhattan to put me on my game.  I returned to the living room and looked at the new numbers on the contract. I said out loud to myself " Are you nuts?, there is no way I'd accept that" "you keep pissing me off and I'm going to have to punch you or something". I slapped myself in the face and retreated to the kitchen for another Manhattan to ease the pain and embarrassment.  I called the Buyer back and said "No go on the offer, this agent is living up to his reputation and is like a brick wall I can't break down, I don't know what it will take to get him to cave". The Buyers asked me what I thought and I said "There are some other units for sale, let's take a run at one of them, I know we will have an easier time with another agent'.  They agreed and thanked me profusely for the wise guidance. I then went to the kitchen and made a Manhattan to celebrate making these future customers happy by showing them my prowess as a negotiator. After that Manhattan, I had to have one last one to celebrate the fact that I stuck to my guns and wasn't going to let some agent bully me into taking an offer I didn't like. The next day I was bragging to my lawyer buddy Christopher Palmetto about how I showed myself who the boss was, and Attorney Chris said "A Realtor that represents himself has a fool for a client". I said, "I agree, and my shrink is going to have to sort this one out."

So, after visiting with Dr. J, here is what he came up with and I think it's an excellent lesson for life and Real Estate. Doc says "Sometimes you need to remove emotions from the situation and just be practical." Buying or selling a property can cause you to become emotional and that can sometimes lead you to make a bad decision.  Sometimes as a Buyer, you are offended that a Seller doesn't accept your offer and you walk away, and vice versa, sometimes as a Seller you are offended by the offer and refuse to counter. To get a deal put together you have to have a "meeting of the minds" and if they are both "sound minds" the deal will come together. And as I've said before "a great deal is one in which both sides think they won."  And, if we don't have sound minds, we always have Manhattans. Doc also said, "Let me freshen up your prescription for Pristiq, as a matter of fact, let's increase the dosage a bit while I'm at it".  

My record of having only been wrong once in my life stands intact, and let me remind you that one time I said I was wrong, I was actually right, so it turns out I was really only wrong for saying I was wrong when I was right.  Think about that.... 

On the personal side, My boy Andy will be cooking up the Thanksgiving poultry again this year. The kid went to Publix and got the biggest 3-pounder you've ever seen. Mmmmm Good, I like mine rare. Willy is still in Columbia and still can't speak a word of Spanish. However, the nearby sushi restaurants have written me and said they will chip in and pay for the tuition and rent for him to stay and get a Ph.D. if I simply agree to continue to pay for the daily sushi deliveries. Now, that's an example of a win-win. 

The inquiring 7.6 faithful readers demand to know The high and low Sales for October, and they are as follows: Single-family home, 999 Spruce Court $6,000,000 which may be a record for an indirect water access home. Condo, Tampico 505 closed for $2,700,000. The vacant lot at 812 Milan Court closed for $1,025,000.   For the bargain hunters, a 2-bedroom home at 201 Marco Lake Drive closed for $450,000,  A 2/1 condo in Seabreeze Soutn, unit N1 closed for $285,000, and a vacant lot at 1385 Merrimac closed for $340,000. I'm telling you there are still value deals to be had. 

If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought. 

Past boring newsletters can be viewed here: https://viewmarco.blogspot.com/ 

Gerry Rosenblum 

Broker Associate Berkshire Hathaway HomeServices Florida Realty 2013, 2012 & 2007 President Marco Island Area Association of Realtors 2008 Realtor of The Year - Marco Island

239-450-4770 (cell) 

1-800-237-8817 (toll-free) 

To View the Entire Marco MLS go to: www.viewmarco.com

June 2022 Real Estate Stats and Commentary

The following stats compare June 2022 to June 2021 Sold Single Family Homes Down 62% (37 vs 97)  Sold Condominiums Down 38% (76 vs 123) Sold Single Family Vacant Lots DOWN 72% (9 vs 32) Inventory: 122 Single Family Homes  127 Condominiums   80 Single Family Vacant Lots  329 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS STARTING TO CLIMB! Summary: A total of $130 Million dollars worth of real estate closed on Marco Island in June 2022. Last month we sold $196 Million and last June the number was $232 Million.  Ok, Ok, it has been a while since I last wrote to my 7.6 faithful readers. Again, I will blame it on the meds they have me hooked on which have turned me into Rip Van RosenWinkle.  Luckily, for those that like to read this smut, (unluckily for those that don't) I have awoken and am here to report about the Marco real estate market. Speaking of pills, on the back of the huge vial of little blue pills I have, it states "what goes up, must come down". (Now that's a double entendre if I ever heard one).  The hot market sure was fun while it lasted, but we are getting back to a more flaccid state.  (I know what you're thinking...my mastery of the English vocabulary even amazes me sometimes). Speaking of states. Recently, my younger one Willy called me up all excited to say he got accepted to Graduate School at Columbia. I said "that is fantastic" as I scratched my head and thought to myself "Willy can barely speak Spanish, why is he going to attend school in Columbia down in South America?".  After I expressed my dismay, Willy said "no you idiot, Columbia as in Manhattan".  I googled Manhattan and see that it's a town in Kansas as well as a very refreshing cocktail.  I said, "are you going to get a dog, name it Toto, wear Louboutin sneakers, and move to Kansas?".  Willy said "you really are an idiot, Manhattan as in New York City, you know the Big Apple!"  Ahhhhh, now when I got divorced I lost half of my money and most of my sanity. Willy and  Andy are now working on whatever I had left. I should never have let them all attend that magician camp where they learned how to make things disappear.   In other news, I recently spent months in training to become a Guardian ad Litem (Google it if you don't know what it is). I got my first case and recently went to court to represent my child. In the courtroom they have you sit in a specific seat.  There is a point where the judge introduces all of the parties, and when he got to me he said "And your name is sir, and why are you here?".  I said, "Gerald Rosenblum as Guardian ad Litem your honor".  He repeated it and thanked me. Later on due to a technicality it was agreed that the case would be continued and everyone was dismissed.  There was a little chit-chat between the attorneys and the judge, and the case was called back to order.  Due to protocol the judge reintroduced everyone and when he got to me he said "Mr. Rosen......Berg?" I said, "It's Rosenblum, you had a 50/50 chance and blew it Judge Macafee" (his real name is Mcfee). He didn't laugh, said I embarrassed him and the court. I got out in 30 days and now know what Contempt of Court actually means. Luckily my cellmate was in for being a litter bug. Now, as excited as my 7.6 faithful readers are to have me back and have something to read while on the toilet, they are even more excited to figure out what Columbia, Manhattan, and Judge McFee have to do with real estate, and I'm just the person to tell you.  It's all about the name. There are multiple Columbias and a few Manhattans. (Fun Fact: the cocktails are like eyes and boobs, 1 is not enough, 2 is just right, and 3 is too many) and Luckily there is one mean old Judge Mcfee, and ONLY 1 Marco Island. There is no confusion that Marco Island is the greatest place to live, work, play, and drink Manhattans.  And when you are singularly, the one and only best place in the world, then people will always want to buy real estate there.  And when people buy and sell (I almost typed "cell" as a flashback to my jail days) you will always have a market.  Sure, the prices go up and down a bit, but you can't put a price or value on living in Paradise.  Right now rising interest rates and a declining stock market are causing the market to slow, but I can assure you there is only one Marco Island and there is no confusing this is where you want and need to be. (Fun Fact #2: Years ago Blood, Sweat and Tears had a song with the lyrics - "What goes up must come down".  I bet you never knew it was a song about Real Estate prognostication?)  In short, come get some.  The inquiring 7.6 faithful readers demand to know The high and low Sales for June, and they are as follows: Single-family home, 970 Partdrige Court $3,950,000. Condo, Hideaway Villa #6 closed for $6,500,000. The vacant lot at 921 Giralda Court closed for $1,350,000.    For the bargain hunters, a 2 bedroom home at 368 Castaways closed for $599,000,  A condo in Southwinds, unit B4 closed for $275,000, and a vacant lot at 2011 Sheffield closed for $250,000. I'm telling you there are still value deals to be had. If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought.    Past boring newsletters can be viewed here: https://viewmarco.blogspot.com/ Gerry Rosenblum Broker Associate Berkshire Hathaway HomeServices Florida Realty 2013, 2012 & 2007 President Marco Island Area Association of  Realtors 2008 Realtor of The Year - Marco Island  239-450-4770 (cell) 1-888-239-5131 (toll-free e-fax) 1-800-237-8817 (toll-free) To View the Entire Marco MLS go to: www.viewmarco.com

Copyright © 2022 Berkshire Hathaway HomeServices Florida Realty, All rights reserved. A fun way to follow the Real Estate Market on Marco Island. Our mailing address is: Berkshire Hathaway HomeServices Florida Realty 928 North Collier Boulevard, Marco Island, FL Marco Island, FL 34145 Add us to your address book

Marco Island Real Estate Stats and Commentary October 2021

The following stats compare October 2021 to October 2020

Sold Single Family Homes Down 38% (33 vs 54) 
Sold Condominiums Down 51% (38 vs 78)
Sold Single Family Vacant Lots DOWN 70% (9 vs 30)

Inventory:
92 Single Family Homes (DOWN 46% from 2020)
74 Condominiums (DOWN 77% from 2020)
67 Single Family Vacant Lots (DOWN 61% from 2020)
233 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS VERY LOW!

Summary:

A total of $80 Million dollars worth of real estate closed on Marco Island in October 2021. Last month we sold $81 Million and last October the number was $126 Million.  Due to circumstances beyond my control, I have not been keeping my 7.6 faithful readers up to date on the market, and for that, I apologize profusely.  In my last newsletter, I said there was unbridled enthusiasm in the market, well now that same horse is not only unbridled, but it also jumped the fence and is getting ready to run in the Kentucky derby, and my money is on it. The market is beyond hot, it is currently nuclear. In this market, just like my horse, you have to be fast. When properties come on the market they are selling in hours, not days, I kid you not.  The demand and money are there to back this up.  If you are looking to purchase you need to let me know and jump on it when something becomes available. Conversely, if you are looking to sell let me know and I will go over some of the strategies for each of you to make the deal a successful one. 

Speaking of nuclear, I recently had a doctor's appointment that required the doctor to get up close and personal. In the middle of the exam she looked, what I thought was lovingly into my eyes and said, "I love your cologne, what is it called". I said "fear" and she said "who makes it?", to which I replied "me".  She laughed and said I passed the sniff test, however, I failed the medical exam and I'm not talking about the one you take to become a doctor.  Anywho, she sent prescriptions to my Publix pharmacy and it took a week until they called and said they were ready to be picked which is 6 days longer than it normally takes, which I found odd. I then showed up to pick them up and was informed the one script was $1,300 for ten days of pills and that is WITH insurance.  When I heard this I almost had a heart attack and died right there. It then dawned on me that the insurance company does this on purpose because they want you to have a heart attack, think about it, it makes economic sense for them to get rid of you. Hah, nice try insurance company not to be named!  When I came back to my senses I asked the pharmacist why they only give you 10 days worth of pills and she said "well, you know".  I said, "what do I know?" She said, "you know".  I said, "listen you dirty drug dealer, tell me what's going on".  She said, "well, hopefully for you (not the insurance company), you show up next week and I'll give you another 10 days' worth, get it?" - the insurance company doesn't want to get in too deep because your family can't return any unused pills". After selling my one half-good kidney to pay for the pills I then strolled from the pharmacy department in Publix to the produce section and starred at the green bananas for a while until I decided that might be a bad investment. And, along the same vein, the insurance company has now assigned me a private nurse that checks in with me every day at 9:00 A.M. prompt.  I don't know if I'm paranoid or not, but it certainly seems to me she is disappointed when she hears my voice each day when I answer the phone and say "hello". I think she gets paid by the closed cases. BTW, the side effects of the medication are constipation, diarrhea, insomnia, drowsiness, numbness, tingling, erectile dysfunction that lasts 4 hours, memory loss, blurred vision, tremors, and then more diarrhea.  Luckily they gave me 10 days worth of some other stuff that is guaranteed to cure 3 of the side effects, I certainly haven't figured out which 3 yet.

Now, my faithful 7.6 readers know this fable has something to do with the current market and I hopefully have enough mental clarity at this moment to explain it. Here it is.  No matter what something costs, sometimes you just have to take the plunge and go for it. Sure, the market is hot right now and what you want to buy is now 30% - 40% more than a year or two ago.  Who cares! If you want something and have the money I say GO FOR IT!  You will get to enjoy that new home or condo and be happy you took the plunge. Nobody ever looks back and regrets a purchase on beautiful Marco Island.  This is what life is all about, no regurts, trust me.  The world as we knew it has changed and Marco has turned out to be the epicenter for the new world.  Kind of like the colony that will someday be started on Mars. As a matter of fact, I heard they were going to name the Martian colony "Marco" which is short for Martian Colony.

The inquiring 7.6 faithful readers demand to know The high and low Sales for February, and they are as follows:

Single-family home, 1061 Bonita Court for $2,900,000. Condo, Prince PH 1&2 closed for $3,200,000. The vacant lot at 1539 Heights Court closed for $6,100,000. Rumor has it that the purchaser of this lot has lots of problems, however, MONEY ain't one of them.
 
For the bargain hunters and those that are certainly in the money, a 3 bedroom home at 1061 Hartley closed for $310,000,  A condo in Aquarius G8 closed for $175,000, and a vacant lot at 383 Morning Glory Lane closed for $575,000. Lots are starting to vanish on Marco.


If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought.   


Past boring newsletters can be viewed here: https://viewmarco.blogspot.com/



Gerry Rosenblum

Broker Associate
Berkshire Hathaway HomeServices Florida Realty

2013, 2012 & 2007 President Marco Island Area Association of 
Realtors
2008 Realtor of The Year - Marco Island 

239-450-4770 (cell)
1-888-239-5131 (toll-free e-fax)
1-800-237-8817 (toll-free)
To View the Entire Marco MLS go to: www.viewmarco.com

Marco Island Real Estate Stats and Commentary - February 2021

 

The following stats compare February 2021 to February 2020

Sold Single Family Homes UP 41% (45 vs 32) 
Sold Condominiums UP 73% (76 vs 44)
Sold Single Family Vacant Lots UP 127% (39 vs 13)

Pending Single Family Homes UP 41% (116 vs 82)
Pending Condominiums UP 122% (153 vs 69)
Pending Single Family Vacant Lots UP 113% (66 vs 31)
(Pending means it went under contract but has not closed yet)

Inventory:
86 Single Family Homes (DOWN 72% from 2020)
139 Condominiums (DOWN 63% from 2019)
81 Single Family Vacant Lots (DOWN 69% from 2019)
306 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS VERY LOW!

Summary:

A total of $142 Million dollars worth of real estate closed on Marco Island in February 2021. Last month we sold $139 Million and last February (A Leap Year February) the number was a measly $72 Million.  Unless you live under a rock, under the Jolley Bridge, or in a yurt, you have all been hearing about how hot the market is, but I'm telling you there are no words to describe the unbridled enthusiasm that is taking place. And, unlike runs in the past, I predict there won't be a pullback. I truly believe that once and for all the world has discovered Marco Island and people are seeing the value of living here. The Marco way of life comes at a price that thousands of people are willing to pay for and can afford. Here is an example, an agent listed a rundown waterfront home on Marco this week for $595,000 and within 6 hours she had 31 offers on the property, with the winner offering more than $200,000 over the asking price. Ultimately the Seller is happy, the Buyer is happy, and I'll bet you a roll of toilet paper both Realtors are happy too. If you are thinking of selling your property now is the time to list it. I don't see the market pulling back, but I do believe you will start to see resistance from Buyer's willing to keep pushing things much higher. The inventory is at an epic low and properties are selling within days of coming on the market, in spite of the flurry, I truly believe Marco Island still represents a great value when compared to other high-end waterfront communities in the U.S.

Speaking of toilet paper, my faithful 7.6 readers know I now live alone and I am happy to report that I finally figured out who the a$$hole is that wasn't replacing the toilet paper roll when it was empty all these years. I also now know who the a$$hole is that leaves empty milk cartons and half-open flat cans of soda (or pop for you midwesterners, or soder for us Jersey folks). I believe they are the same person and I feel sorry for him once I get my hands on him. However, I haven't figured out why the bed does not make itself, but I now realize, much to my sadness, there apparently is no bedmaking fairy. Because there is no bed fairy, I came to the conclusion there is no sense in making the bed since I'm just going to get it in it (when I'm not sleeping on the couch or floor) and mess it up. This made my mind take a quantum leap and I decided to only sleep on the couch or floor thereby never having to make the bed. (see what a deep thinker I am).  Now, sleeping in odd places causes me to have a bad back, forcing me to see a chiropractor which costs a lot of money, so I don't bother to go. Again, I hope you can keep up with how rapidly I problem-solve. With the money I saved on not going to the chiropractor, I started going to a psychiatrist. He tells me I am a "constant stream of consciousness and it's hard for him to figure out what I'm thinking about for more than 10 seconds" followed by "here, take this pill, it'll calm us both down". As a matter of fact, at my last visit, he told me he doesn't want to see me anymore as a patient because I'm driving him crazy, which seems to be what I do to everyone, hence, why I live alone. Back to living alone, I have to ask a question: Do you need to use air freshener in the bathroom when you live alone? This brings me back to the toilet paper subject. I have had a few surgeries now that have gone awry and I would like to personally thank the Charmin company for their concern for my bum during these trying times. Just like in Real Estate, the job isn't finished until the paperwork is all done, and you want that to go as smoothly as possible. That makes me think that toilet paper is made from trees, which are rough and barky; how do they end up getting is so smooth and absorbent?  Recently I went to my internist, Dr. BoBo, and told him "I pee every morning at 5:00 and poop at 6:00". He said "what's the problem?", I said, "I don't wake up until 7:00". I know that's an old one, but very apropos for my new lifestyle. Do you know you can buy a Banquet T.V. dinner at Walmart for $1.00? Stay away from the one titled "Backyard Barbecue", I'm not sure who's backyard they are talking about, but our dog used to poop in the backyard, just saying. Now, this paragraph is just a snippet of what goes on in my brain 24/7 so the 7.6 faithful can get a glimpse of what a constant stream of consciousness feels like. lt ain't easy being me and I now understand, as do you, why I live alone. This leads me to the next paragraph where I will explain how The Gerry's Fable (like Aesop's, only more disjointed) I just wrote about relates to Real Estate.


This one is a bit trickier than explanations of the past, but here is how the above applies to Real Estate. Sometimes, not all the time, you yourself are the problem. I have clients that overthink things, underthink things, don't think about things, could care less about things, and the worst are those that wonder about things. Such as, " I wonder how much they will take" ... "I wonder what you think they will take"... "I wonder if they are highly motivated and are looking to dump this property and I am about to get the greatest deal in the history of Real Estate".  Now, the faithful 7.6 know I am a master grammartist and word inventor extraordinaire, and you will notice none of those 3 previous statements ends with a question mark. While they seem like questions, they are just thoughts that travel through the customer's brain, they go nowhere, mean nothing, and end up in the random consciousness of their brain. My job is to let those thoughts rattle around in their head for a while, then use my magical powers to read their mind, then subliminally get the deal worked out in their head without the use of any Charmin. Folks, I can certainly attest to the fact that life is difficult sometimes, Real Estate does not have to be difficult, and if you put your trust in my brain I can almost guarantee a successful result. After all, I was only wrong once and that had nothing to do with Real Estate. 

The inquiring 7.6 faithful readers demand to know The high and low Sales for February, and they are as follows:

Single-family home, 985 Caxambas drive for $3,875,000. Condo, Veracruz 2401 closed for $3,700,000. The vacant lot at 1411 Caxambas  Drive closed for $3,500,000. 3 is a magical number.
 
For the bargain hunters and those that are certainly in the money, a 3 bedroom home at 1495 Bermuda closed for $390,000,  A condo in Seabreeze F8 closed for $99,900, and a vacant lot at 1872 Dogwood Drive closed for 85,000. YES, you can still get a great deal on Marco Island, but these will start to vanish.

Yes, I am growing my hair because the last thing the Shrink told me to do was to get a hobby. I tried taking up shooting guns, but that ended up in a bloody mess. I tried becoming a Vodka taste tester at the Tito's factory, but they fired me for taking my work home with me. I almost applied to be a quality control inspector at the Charmin plant, but I heard the working conditions there were crappy.  My boys Andie and Willy suggested I grow my hair as it would take all day every day, and I could do it while I take my daily walk. They know I like to multitask so it turned out to be the perfect hobby for me. Sometimes I even chew gum and triple task. If it looks like I'm losing weight it's because of all the Banquet T.V. dinners I now eat because nobody invites me out, I hope that's due to covid and not my personality.  Lastly, to all my faithful 7.6 readers, please tell all your family members you love them...because you can. 

If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought.   


Past boring newsletters can be viewed here: https://viewmarco.blogspot.com/



Gerry Rosenblum

Broker Associate
Berkshire Hathaway HomeServices Florida Realty

2013, 2012 & 2007 President Marco Island Area Association of 
Realtors
2008 Realtor of The Year - Marco Island 

239-450-4770 (cell)
1-888-239-5131 (toll-free e-fax)
1-800-237-8817 (toll-free)
To View the Entire Marco MLS go to: www.viewmarco.com

 

Marco Island Real Estate Stats and Commentary December 2020 YEAR END

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Gerry Rosenblum	2:29 PM (26 minutes ago)
The following stats compare December 2020 to December 2019 Sold Single Family Homes UP 40% (569 vs 406)  Sold Condominiums UP 34% (621 vs 462) Sold Single Family Vacant Lots UP 127% (272 vs 1200) Pending Single Family Homes UP 76% (58 vs 33) Pending Condominiums UP 123% (89 vs 40) Pending Single Family Vacant Lots UP 169% (43 vs 16) (Pending means it went under contract but has not closed yet) Inventory: 117 Single Family Homes (DOWN 60% from 2019) 246 Condominiums (DOWN 36% from 2019) 113 Single Family Vacant Lots (DOWN 60% from 2019) 476 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS VERY LOW! Summary: A total of $1.137 BILLION dollars worth of real estate closed on Marco Island in 2020. Yes folks, that is a B there for Billion. In 2019 the total was $708 Million. I want you to read that last sentence a few times and let it sink in, $1,137,455,174.00 was the actual number and that is a big booty number. For a visual I want you to think of Dr. Evil from Austin Powers saying "1 Billion Dollars". What makes it all the more remarkable is that the "C" word (that is Covid for you deplorables) descended upon us and everyone was thinking we were in for a world of hurt Real Estate wise. The great minds in the US Treasury started sending out checks for $600 dollars to everyone to stimulate the economy, which I personally thought was fruitless. But, I am here to tell you that I was 100% wrong! The ingenuity of the American public is not to be underestimated. Somehow people took that $600 and were able to figure out a way to purchase homes, condos, and lots with it. I'm still scratching my head a bit on this one, but they know something I don't know. I can tell you that lots of people started working from home and realized they will keep working from home since their companies can save money on water coolers, coffee, and office rent. The really smart workers figured they might as well work from home on Marco Island because they can play hookey once in a while from the job and enjoy Paradise year-round instead of a few weeks a year. Those that weren't as bold bought vacant lots and will wait and see if this thing works, and if it does, they will start building homes here with nice offices in them I guess.  Moreover, being a prognosticator, I am a bit concerned that all the new people I see lollygagging around on the beach all day are really supposed to be home on their computers working on the cure for cancer or how to send manned rockets to Mars and back. I have a bit of fear that this work at home thing might backfire a bit. Regardless, back to the subject, the Real Estate Market on Marco was absolutely on fire this year. The numbers will start to drop off a bit now, not because the demand is down, but because there is a low inventory of property available to purchase. SO, IF YOU WERE THINKING OF SELLING YOUR PROPERTY THERE IS NO BETTER TIME TO DO IN THAN RIGHT NOW!. Besides an on-fire market, we are now actually entering what is usually the busy and strongest time of the year so it would seem there is no let-up in sight. Interest rates are low, the stock market is strong, and the Treasury just started sending out more $600 checks, so hold on to your seats. I have been remiss in sending out this newsletter to my faithful 7.6 readers for the past few months and the .6 reached out to me recently and said "listen, I know you've had a very tough year with getting sick and divorced, and whatever else happened to you, but those are your problems, not mine. And when you let your problems become my problems, then we both have a problem and I'm not standing for that. So, why don't you make like all the stay at home workers, get your butt over to the computer, and start typing some Real Estate facts and figures so I know whether to sell my condo or buy another as an investment". I took those words to heart and am now hammering away at my keyboard with my lame hand so all of you are informed and entertained at my expense. For the other 7 out of the 7.6, who care more about a story with a real estate moral than the facts and figures, here we go. With the C-word going on, I have all kinds of doctor visits that are done via Zoom and Facetime instead of in person. Now, I am all for keeping people safe and all that, but it is hard to be dealing with medical issues online.  I recently was chatting it up on Facetime with my Urologist, whom I really like, regarding something I am smuggling in my body. We have a nice chat, go over some test results, talk about some new pills and whatnot, and about life in general. Now, for all of you men out there, you know that a normal visit to the Urologists office always ends with the one-finger salute to check your prostate. As we are wrapping up our conversation my doctor said "so you live alone now", to which I replied "yes". He said, "do you have any close neighbors or friends nearby that you could call on to lend a hand?" I said "what for?", he said, "you know, we need to check your prostate". I said "it's good", he said, "oh, you checked it yourself?". I said, "no, but I'm pretty sure it's okay". He said, "okay, I'll let it go this time, but next time you need to have somewhere with you when we Facetime".  I let it go, but about 2 weeks later my neighbor called up who sees the same doctor and said "hey, can you stopover for a minute and lend me a hand, Dr. G is on the phone?". I think this whole telemedicine thing has some kinks that need to be worked out. Now the moral of the story, without question, is that in Real Estate, just like medicine, you want a trained professional to help you. Stop listening to what your friends, family, and neighbors tell you about the market and speak to a licensed Realtor (preferably me). Please believe me when I tell you Zillow and Trulia are not the experts. Quit listening to every Tom, Dick, and Harry, and no matter what, don't take matters into your own hands and try to do it yourself. The inquiring 7.6 faithful readers demand to know The high and low Sales for 2020, and they are as follows: Single-family home, 475 Gate House Way in Hideaway closed for $10,500,000. It was on the market for 25 days. Condo, Belize 2305 closed for $5,124,000 and it was on the market for 25 days. and a vacant lot at 350 Seabreeze Drive closed for $3,350,000 and it was on the market for 302 days.   For the bargain hunters and those that are certainly in the money, a 2 bedroom home at 168 Dogwood Drive closed for $325,000 (76 days on the market) A condo in Coquina Gardens closed for $95,000 (43 days on the market), and a vacant lot at 185 Dogwood Drive closed for 55,000, (138 days on the market). YES, you can still get a great deal on Marco Island, but not like these anymore. I want to make a little public service announcement to thank everyone that has gone out of their way these past few months, feeding me, driving me, and checking on me. (now I know what it feels like to be a common house plant).  I especially want to thank my sons Andy and Willy who have done more for me than I could ever have dreamt of. And to all my faithful 7.6 readers, please tell all your family members you love them...because you can. If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought.    Past boring newsletters can be viewed here: https://viewmarco.blogspot.com/ Gerry Rosenblum Broker Associate Berkshire Hathaway HomeServices Florida Realty 2013, 2012 & 2007 President Marco Island Area Association of  Realtors 2008 Realtor of The Year - Marco Island  239-450-4770 (cell) 1-888-239-5131 (toll-free e-fax) 1-800-237-8817 (toll-free) To View the Entire Marco MLS go to: www.viewmarco.com Copyright © 2021 Berkshire Hathaway HomeServices Florida Realty, All rights reserved. A fun way to follow the Real Estate Market on Marco Island.