Marco Island Real Estate Stats for the first 3 quarters of 2015 compared to 2014

The following statistics compare the first 3 quarters of 2015 to 2014

Sold Single Family Home Sales DOWN 10% (327 vs. 362)

Sold Condominium Sales UP 5% (478 vs 457)

Sold Single Family Vacant Lots UP 24% (148 vs 119)

Average Sale Price Single Family Home UP 26% ($923k vs $736k)

Average Sale Price Condominium UP 15% (($559k vs $486k)

Average Sale Price Single Family Vacant Lot DOWN 2% ($405k vs 414k)

Total Dollar Value of all Single Family Homes Sold UP 13% ($301M vs $266M)

Total Dollar Value of all Condominiums Sold UP 20% ($267M vs $222M)

Total Dollar Value of all Single Family Lots Sold UP 22% (60M vs 49M)

Current Inventory:

237 Single Family Homes (DOWN 13% from 2014)

218 Condominiums (DOWN 26% from 2014)

276 Single Family Lots (DOWN 2% from 2014)

Summary:

$633,000,000 worth of Real Estate closed in the first 9 months on Marco Island; I wonder if we will hit $1 Billion this year?! 

As the average sales price has crept up I have been screaming from the rooftops this has been a function of the amazing activity in the high end market and can't necessarily be applied to the rest of the market. The newspapers and most of my peers have finally started to look a bit closer at the numbers and are seeing the light. To elaborate, for the first 9 months of 2014 on Marco Island there were 98 sales from $1M to $2M, 15 sales from $2.1M to $3M and 3 sales over $3 Million with the highest sale in 2014 being $3,459,000 in 2014.  However, for the first 9 months of 2015 there were 115 sales from $1M to $2M, 21 sales from $2.1M to $3M, 13 sales from $3.1M to $4M, 2 sales from $4.1M to $5M, 1 sale from $5M to $6M, 2 sales from $6M to $7M and the grandaddy of them all is a sale at $7.5 million (1549 Heights Court for those that want to Google Earth it) This explosion in the rarified air of the high end market is astounding and as I mentioned it is pulling the average sale price across the board waaayyyy up. I can tell you that part of the reason for the sales activity of the high end market on Marco, is the relative bargain it represents when compared to Naples. The most expensive property for sale right now on Marco is the Belize Grand Penthouse with an asking price of $9.5M. In Naples there are currently 29 properties for sale over $10M with the most expensive property for sale being a home with an asking price of $68 Million dollars! (3100 Gordon Drive is the address and now is a good time for me to mention that if you are tired of slumming on Marco Island, I would be happy to help you buy this house) But seriously, the real estate market on Marco Island is as healthy as it has ever been and interest rates are still below 4% which bodes well for the near future.

Repeating myself again, if you are thinking of selling, it is a great time to do so, as the low inventory has buyers waiting for fairly priced properties. Advances in Internet Real Estate sites allow consumers to receive daily updates as new properties come on the market. When a good one comes up, they are jumping on it if the price is fair.  As I deal with buyers and sellers, I can assure you, I have the capability to assist you whether you are selling or buying. If you would like to be put on my daily update list of what is coming on the market, just send me an email and I'll plug you in.

And remember, I  won't 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)
1-888-239-5131 (toll free e-fax)
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To View the Entire Marco MLS go to: www.viewmarco.com