Marco Island Real Estate Statistics - April 2015

The following stats compare April 2015 to April 2014

Sold single family homes DOWN 22% (42 vs 54)

Sold condominiums DOWN 20% (71 vs 89)

Sold single family vacant lots UP 36% (15 vs 11)

Pending single family homes DOWN 40% (55 vs 92)

Pending condominiums DOWN 15% (85 vs 100)

Pending single family vacant lot sales DOWN 17% (20 vs 24)

Inventory:

297 Single family homes (DOWN 21% from 2014)

295 Condominiums (DOWN 22% from 2014)

330 Single family lots (UP 13% from 2014)

Summary:

A total of $97 Million dollars worth of real estate closed on Marco Island in the Month of April, 2015. ($87 Million dollars worth in March 2015 and $96 Million in April 2014).

Another month goes by and again we have extraordinary sales numbers that need to be looked at a bit closer before we declare another boom. One undeniable fact is that the high end market is as strong as ever here on Marco Island. In the month of April seven single family homes sold ranging from $2.1M to $4.5M for a total of almost $21M. Two condos sold in the Madeira building, one for $3.4M and the other for $6.45M. (The third highest amount ever for a condo on Marco Island). I attribute the strength of the high end market to general strength in the overall economy, perceived value in these properties by these elite buyers and optimism that Marco Island is segueing into becoming a top tier location/destination. Just as the Marriott on Marco Island has long been considered excellent, it's upcoming transformation and elevated status into becoming a J.W. Marriott property follows suit with the status of Marco Island as a whole. I continue to see a lot of new construction of very large and very expensive homes further solidifying the high end market valuations. While many of these new homes do not appear in the MLS statistically, it is apparent that people are not hesitant to invest heavily in Paradise. As an aside and to add a little sass to this update, a statement I often make when someone asks me about wealthy customers, such as my friend HPG, is "They have a lot of problems too, money just isn't one of them".

Now, because I don't want to paint a picture of unbridled enthusiasm, I will point out that the average overall sale price for homes, lots and condos in April was $739K, if I subtract out the $30M for the 9 high end sales mentioned above, the average sale price in April was $541K. A bit closer to where the average buyer is looking. The biggest impediment to the overall market right now is a simple lack of inventory. The inventory just keeps decreasing and decreasing and it's hard to find matches for customers. The buyers are out there, so if you are looking to sell at a price within reason, now is the time.

As always, please reach out and contact me if you have any real estate questions. And if you are thinking of using me as your Realtor, keep in mind I will never be out thought or out fought. 

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)
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