Sold Single Family Home Sales up 10% (325 vs. 295)
Sold Condominium Sales up 13% (448 vs 398)
Sold Single Family Vacant Lots down 5% (142 vs 150)
Average Sale Price Single Family Home up 11% ($763k vs $689k)
Average Sale Price Condominium up 11% (($467k vs $423k)
Average Sale Price Single Family Vacant Lot up 32% ($386k vs 292k)
Total Dollar Value of all Single Family Homes Sold up 22% ($248M vs $203M)
Total Dollar Value of all Condominiums Sold up 25% ($210M vs $168M)
Total Dollar Value of all Single Family Vacant Lots Sold up 25% (55M vs 44M)
Current Inventory:
304 Single Family Homes (down .3% from 2012)
364 Condominiums (down 29% from 2012)
241 Single Family Lots (down 7% form 2012)
Summary:
Over a half BILLION dollars of real estate has closed on Marco Island during the first 9 months of 2013. Whew... Without question the appetite for Marco Island real estate was as strong as it's ever been during the past 3 quarters. Average prices were up, Dollar value was up, Median prices were up. However, the decrease in inventory has resulted in a bit of a let up over the last couple of months and our break neck pace is easing. Bank appraisals are keeping prices fairly in check and interest rates are still excellent with the 30 year fixed rate at about 4.5%. Other indicators of note are the average days a property is on the market is down about 10% from 299 to 269 and the list price to sales price ratio is up 2% from 90% to 92% (this means the average amount "negotiated" is 8%.)
The market seems healthy and buyers seem ready to get their piece of Paradise.
I keep reiterating that 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 for fairly priced properties.
As always, please reach out and contact me if you have any real estate questions.
Gerry Rosenblum
Broker Associate
2013,2012 and 2007 President Marco Island Board of Realtors
2008 Realtor of the Year
239-450-4770
Broker Associate
2013,2012 and 2007 President Marco Island Board of Realtors
2008 Realtor of the Year
239-450-4770
No comments:
Post a Comment