Marco Island Real Estate Statistics for October 2014

The following stats compare October 2014 to October 2013

Sold single family home sales UP 3.45% (30 vs. 26)

Sold condominium sales DOWN 15% (35 vs 36)

Sold single family vacant lots DOWN 25% (9 vs 12)

Pending single family home sales Even (43 vs. 43)

Pending condominium sales UP 22% (73 vs 60)

Pending single family vacant lot sales UP 5% (20 vs. 19)

Inventory:

279 Single family homes (Down 19% from 2013)

312 Condominiums (Down 22% from 2013)

301 Single family lots (Up 22% form 2013)

Summary:

A total of $50 Million dollars worth of real estate closed on Marco Island in the Month of October, 2014. ($35 Million dollars worth in September 2014 and $32 Million in October 2013). 

The overall pulse of the market right now is very strong and it does not appear that it will abate anytime soon. October is typically one of the slowest months for sales, but the pending sales were strong with 136 properties going under contract. Again, I will reiterate that the operative word right now regarding Marco Island Real Estate is INVENTORY, specifically the lack of properties for sale. Currently there are 279 single family homes, 312 condominiums and 301 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.

Repeating myself again, 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. 

This means that if you are thinking about listing your property for sale, now is a great time to do so. 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.

Have a Happy Thanksgiving!

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 my website: viewmarco.com
Email - Marcoislandflorida@gmail.com