Marco Island Real Estate Statistics for August 2014

The following stats compare August 2014 to August 2013

Sold single family home sales UP 35% (42 vs. 31)

Sold condominium sales DOWN 14% (38 vs 44)

Sold single family vacant lots UP 25% (10 vs 8)

Pending single family home sales up 7%  (49 vs. 46)

Pending condominium sales up 4%  (59 vs 57)

Pending single family vacant lot sales up 10%  (11 vs. 10)

Inventory:

262 Single family homes (Down 18% from 2013)

297 Condominiums (Down 26% from 2013)

288 Single family lots (Up 21% form 2013)

Summary:

A total of $41 Million dollars worth of real estate closed on Marco Island in the Month of August, 2014. ($45 Million dollars worth in July 2014 and $53 Million in July 2013). 

The operative word right now regarding Marco Island Real Estate is INVENTORY, or the lack of it for that matter.  Currently there are 262 single family homes, 288 condominiums and 297 single family lots for sale. These numbers are very, very low and it is becoming increasingly difficult to find a property at an acceptable price due to this low inventory.

There are buyers waiting in the wings for many properties and they are jumping in rather quickly when something new comes to market. In the last few weeks I have seen many instances of properties going under contract within a day or two of being listed. Again, if the price is fair, there are buyers out there waiting. The average number of days properties are on the market for the trailing 12 months is 241, and that number keeps dropping.

What does this mean? It means that if you are thinking about listing your property for sale, now is a great time to do so.  Prices have certainly moved up from the lows a few years ago and there is a demand right now. The stock market is strong and many people are cashing out of stock to buy a second home or investment property.  Couple that with very low interest rates for mortgage buyers, and it's a great time to be a seller.

As always, please reach out and contact me if you have any real estate questions.

Stay cool and dry and let me go to work for you.

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 

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