The following statistics compare April 2014 to April 2013.
Sold single family home sales UP 10% (54 vs. 49)
Sold condominium sales UP 5% (89 vs. 85)
Sold single family vacant lots DOWN 52% (11 vs. 23)
Pending condominium sales EVEN (100 vs. 100)
Pending single family vacant lot sales DOWN 43% (24 vs. 42)
Inventory:
360 Single family homes (Down 3% from 2013)
362 Condominiums (Down 28% from 2013)
291 Single family lots (Up 11% from 2013)
Summary:
A total of $96 Million dollars worth of real estate closed on Marco Island in the Month of April. ($76 Million dollars worth in March and $101 Million in April 2013). Historically April is one of the biggest months for closings here on Marco Island. Please keep in mind that if a property closed in April it probably went under contract in February or March. If you compare the $96 Million this April to the $101 Million last April it is safe to say the market, dollar volume wise, is pretty even when compared to last year. House sales remain strong as do condominiums because the average sales prices are not escalating dramatically. Since the beginning of 2014 the average Home sale is up 1.86% and Condos are up 6.7 percent compared to the same time period last year. (Jan 1 thru May 15) Lot sales however have slowed down dramatically. This let up in lot sales is simply due to the prices escalating for vacant lots. For the trailing 12 months compared to the trailing 12 months before that, the average lot sale price is up 40% from $300,000 to $419,000. It would seem buyers are not as willing to purchase lots at the new price points. However, there are buyers out there and when a seller becomes motivated the lot won't last long. People often ask if the summer brings a "slow" season, and to that I say no. While sales in March, April and May are "crazy", the summer certainly isn't slow by any means. The inventory continues to remain low and there is still a healthy appetite for property that is competitively priced. Interest rates are still excellent at under 5% for a 30 year fixed (although over 60% of the deals closed are for cash). If you're thinking of selling, the demand is there. If you're thinking of buying, we just need to find the right deal.
AS always, call, text, e-mail, fax or send a smoke signal or whatever you need to do to contact me.
For 2014 Trip Advisor ranked Marco Island the #1 Island in the United States and #4 in the WORLD! Click here to see for yourself http://www.
Gerry Rosenblum
Broker Associate
Berkshire Hathaway HomeServices Florida Realty
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
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
