The following stats compare April 2016 to April 2015
Sold Single Family Homes DOWN 19% (34 vs 42)
Sold Condominiums DOWN 28% (51 vs 71)
Sold Single Family Vacant Lots DOWN 40% (9 vs 15)
Pending Condominiums DOWN 16% (71 vs 85)
Pending Single Family Vacant Lots DOWN 60% (8 vs 20)
(Pending means it went under contract but has not closed yet)
Inventory:
369 Single Family Homes (UP 22% from 2015)
342 Condominiums (UP 14% from 2015)
363 Single Family Vacant Lots (UP 8% from 2015)
Summary:
A total of $66 Million dollars worth of real estate closed on Marco Island in the Month of April, 2016 - $43 Million dollars worth in March 2016 and $97 Million in April 2015, last year.
I told you last month the sky wasn't falling and all I can say is "what a difference a month makes". While there is a lot of red ink above when comparing last April to this April, I want to throw some numbers at you that show what a nice rebound we had in April 2016 compared to March 2016. Ready? here goes... 97 total sales in April compared to 79 in March, that's a 23% increase. Total dollar volume sold in April $66 Million compared to $43 Million in March, that's a nice big 54% increase in dollar volume. 133 properties went under contract in April compared to 106 in March, which is a healthy 25% increase. So, what gives you ask? I'll explain it with a story. To begin with, Bill and Hillary, my seller's, saw the market slowing because of unrealistic asking prices as I have been saying all along. Bill and Hillary, listened to me their listing agent, got smart and started to lower their asking price in response to a stalling real estate market. Donald, the buyer, who is one of my loyal 7.6 readers has been sitting on the sidelines patiently waiting for prices to enter his strike zone. Finally he felt comfortable with the reduced asking price and made his offer through me. I rolled up my sleeves and negotiated a win win situation for the buyer and seller's and I closed both sides of the deal and got a Payday candy bar. The moving truck was called, and soon, Donald will be moving into the house that was previously occupied by Bill and Hillary.
It's that simple folks. There lots of Buyers out there and if you price your property correctly they do just like their name states, they Buy. Sometimes you need to spruce up a place along with pricing it correctly, but in the long run, it's money well spent. Then you do like your name implies, you Sell.
For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are... a Single Family Home for $5,350,000 at 188 Beach Drive in Hideaway. The asking price was $8,950,000 which teaches you it never hurts to make an offer, the worst thing a seller can say is no. For Condos, Madeira 201 closed for $1,750,000 and for Vacant lots, 1045 Caxambas closed for $3,150,000, can't wait to see the house they build on that lot.
For you bargain hunters out there, a Single Family Home at 1331 6th Ave. closed for $254,800. A condo in Marco Villa (1 bed, 1 bath), on Tallwood Street closed for Short money at $81,000 and a Vacant lot at 143 Saxon closed for $129,000. As you see, there really is something for everyone here on Marco Island.
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 that 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
