The following stats compare August 2013 to August 2012
Sold single family home down 6% (31 vs. 33)Sold condominium sales down 2% (43 vs 44)Sold single family vacant lots down 67% (8 vs 24)Pending single family home sales down 2% (46 vs. 47)
Pending condominium sales Up 24% (57 vs 46)Pending single family vacant lot sales down 52% (10 vs. 21)Inventory:307 Single family homes (up 3% from 2012)391 Condominiums (down 25% from 2012)233 Single family lots (down 12% form 2012)Summary:A total of $53 Million dollars worth of real estate closed on Marco Island in the Month of August. ($63 Million dollars worth in July 2013 and $48 Million in August 2012). The appetite for Marco Island Real Estate remains unabated as we move into the fall. The only thing at this time keeping the number of sales from increasing is the inventory. Simply put, the number of properties for sale at this time is probably the lowest in over a decade. Oddly enough, the rainy weather we have been having also puts a damper on sales as some buyers cancel showings due to it, or they postpone their visit to Marco until the weather clears. It appears the desire for people to live in our retirement/resort destination, is as strong as ever.If you are thinking of selling, it is a great time to do so, as the low inventory is creating a sense of urgency in buyers which is now compounded by the fact that interest rates are slowly rising.As always, please reach out and contact me if you have any real estate questions.
Phone: 239-450-4770
Gerry
