The following stats compare July 2015 to July 2014
Sold single family homes DOWN 21% (23 vs 29)
Sold condominiums UP 15% (46 vs 40)
Sold single family vacant lots UP 20% (12 vs 10)
Pending sales of condominiums DOWN 41% (44 vs 75)
Pending sales of vacant single family lots UP 5% (20 vs 19)
Inventory:
264 Single family homes (DOWN 10% from 2014)
243 Condominiums (DOWN 24% from 2014)
297 Single family lots (UP 1% from 2014)
Summary:
A total of $52 Million dollars worth of real estate closed on Marco Island in the Month of July, 2015. ($91 Million dollars worth in June 2015 and $44 Million in July 2014).
You want to know what is going on in the Marco Island Real Estate Market? I'll tell you what...the high end market is doing great and the rest of the market is slow because of lack of inventory. ( I know, I know, I keep repeating this inventory issue, but it's true) Of the 81 sales in July, 16 of them were OVER $800,000, with the winner coming in at $3,550,000. (Inquiring minds want to know; the $3.550MM sale was a townhouse on the beach in Hideaway, (1 of 6 that exist) and the lowest price sale was a $50K lot on Bahama Ave). The Collier County notice of proposed Real Estate taxes went out this week, that means a whole bunch of owners are going to list their properties in the near future because there is nothing like opening that letter to light a fire under you if you are on the fence about selling. We are also in the dog days of summer when things are a bit slower due to buyers enjoying their summers up north, but we all know old man winter is right around the corner and now is good time to buy something to prevent frost bite in February. Another general observation driving around the island is that there is a tremendous amount of new home construction going on. My advice is to sell some of that Apple stock you're holding and buy property on Marco Island. The Marriott reopened while their transformation to a JW Marriott continues, things are looking up.
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
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
