Marco Island Real Estate Stats for July 2016

The following stats compare July 2016 to July 2015

Sold Single Family Homes UP 38% (33 vs 24)

Sold Condominiums DOWN 9% (42 vs 46)

Sold Single Family Vacant Lots DOWN 25% (9 vs 12)

Pending Single Family Homes UP10% (32 vs 29)

Pending Condominiums DOWN 7% (41 vs 44)

Pending Single Family Vacant Lots DOWN 50% (10 vs 20)

(Pending means it went under contract but has not closed yet)

Inventory:

305 Single Family Homes (UP 12% from 2015)

315 Condominiums (UP 27% from 2015)

331 Single Family Vacant Lots (UP 9% from 2015)

Summary:

A total of $56 Million dollars worth of real estate closed on Marco Island in the Month of July, 2016 - $81 Million dollars last month and $53 Million in July 2015, last year. 

I've been reading some of the other recent blurbs and blogs about Real Estate in our area and I can't help but notice that they pretty much are telling you this month, what I told you last month. So, after you read this, you will have an advance copy of what they will tell you next month. Get that? 

First, here is a warning. In August there were two condo sales, one for just over $7 Million and one for $4 Million. That means next month the average sale price is going to go off the charts and all the other prognosticators will tell you prices are taking off. IGNORE IT. Nothing is taking off, nothing is going crazy, it's not too late to buy, you didn't miss the boat, Marco isn't just for rich folks. However, when that time does come, you will know because my own condo will be listed and I will be cashing out of Marco, so until that happens, rest assured things here are still good; no boon or boom yet. So back to this month. We are in a really nice summer groove. $56 million sold this July vs $53 million last July. We all know the summer months are a bit slower for Real Estate (the liquor stores are always busy) and some people specifically come here in the summer thinking they will get a better deal. I'm really not sure if that is technically/factually true or not, but if it works for you, it works for me. I can technically/factually tell you that looking at properties in the summer is much easier as many of them are vacant this time of year. You can really do some serious tire kicking without the renter who is cooking beef tongue and garlic on the stove, giving you the stink eye pushing you out the door. Another little tidbit for those looking to deal is knowing that the notice of proposed property taxes just went out in the mail. That owner looking to sell his piece of Paradise, is sitting up north, opens that envelope, curses a few times and then calls their Realtor and tells them "get me an offer and let's sell". Often times that seller is looking to upgrade on Marco and they have the itch to make a deal. And as the Dalai Lama says, if you have an itch, scratch it. Sage advice, no? Summing up, things are very good, not great. Spirit Airlines has very cheap flights into Fort Myers if you want to come look at property. The inventory is much better than it was a year ago and much, much better than 2 years ago. Interest rates are dirt cheap. Tax notices went out. I'm here ready to help you. I have Tito's and Crown Royale if needed. So you understand where I'm coming from, I just received Annie's college tuition bill and my little one had her wisdom teeth out. Barb needs something I'm sure and Mitzi has a spa day coming up. I just want to sell Real Estate. 

For the faithful 7.6 readers who beg to know: The GOLD medal winners for the month are... a Single Family Home for $4.25 MILLION at 580 South Heathwood. For Condos, Belize 2403 closed for $2,455,00 and for Vacant lots, 230 Stillwater closed for $950,000. 

For you bargain hunters out there, a Single Family Home at 301 Old Marco Lake closed for $278,250. A condo in Island Manor sold for $139,000 and a Vacant lot at 617 Waterside in Hideaway closed for $100,000. As an aside, many of the lots in Hideaway are nicknamed "Club Lots" because folks that live elsewhere buy the vacant lot, pay the $10,712 per year Hideaway fee and the taxes, but this lets you use the private facilities within Hideaway that are outstanding. Just thought I'd let you know that tidbit. 

Brian Lochte has reviewed everything written above and assures you of it's accuracy. 

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

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: www.viewmarco.com

Marco Island Real Estate Statistics - First 6 months of 2016 vs 2015

The following statistics compare the first 2 quarters of 2016 to 2015

Sold Single Family Homes DOWN 23% (190 vs. 248)

Sold Condominiums DOWN 21%  (280 vs 355)

Sold Single Family Vacant Lots DOWN 47% (56 vs 105)

Average Sale Price Single Family Home UP 2% ($969k vs $948k)

Average Sale Price Condominium DOWN 12% (($497k vs $563k)

Average Sale Price Single Family Vacant Lot UP 33% ($566k vs 425k)

Total Dollar Value of all Single Family Homes Sold DOWN 22% ($184M vs $235M)

Total Dollar Value of all Condominiums Sold DOWN 30% ($139M vs $200M)

Total Dollar Value of all Single Family Lots Sold DOWN 29% (32M vs 45M)

Current Inventory:

297 Single Family Homes (UP 9% from 2015)

303 Condominiums (UP 22% from 2015)

325 Single Family Lots (UP 7% from 2015)

Summary:

$360 MILLION  dollars worth of Real Estate closed in the first 6 months on Marco Island. That's a 26% decrease when comparing this year to last, but folks that's still a lot of commissions. The Trump and Clinton camps both reached out to me to speak at their respective conventions to explain what is going on in the Marco Real Estate market. I understand America needs to know, but I respectfully declined as my faithful 7.6 readers of this newsletter tell me they love getting the inside skinny first. So, without further adieu here is how I want you to think about this 26% decline in sales. In 1961 Wilt Chamberlain averaged 50.4 points per game over the course of the season. As some of you may know Wilt was a very busy guy, but he still found the time to have a monster season. The next player after Wilt in the record books is a player some of you may have heard of, Michael Jordan. Mike averaged 37.09 points per game in 1986. That's 26% fewer points than Mr. Chamberlain had, BUT IT WAS STILL CONSIDERED A GREAT YEAR. Sometimes there is an epic "blip" and all the pieces fall together and something astounding happens. I know that records are meant to be broken, but sometimes there was nothing wrong with the year you have even if it's not a record breaker. So, I want you to know that last year was pretty epic, but things are still great this year.

Without Micro analyzing things here are some of the points you can take away from this.

1. There were a lot of very high end sales last year which puffed things up.

2. Inventory is coming back up and there are more choices; I think this gives buyers a little breathing room when pulling the trigger so things naturally slow down. (Second amendment/Real Estate joke here)

3. The buyer's are out there and the seller's continue to cut their prices trying to find that common ground.

4. Life is short, if you want it, can afford it, buy it.

For all you Democrats, Republicans and Others out there, I know you all want to know the monthly high and low sales regardless of your politics, so here goes. A home at 750 Rockport sold for $4,925,000.00 while a home at 161 Tahiti closed for $270,000. A condo in Coquina Gardens sold for $89,900 while Riviera PH925 in Hideaway closed for $1,950,000. A vacant lot in Hideaway sold for $187,500 while we had a tie for the high lot, 1136 Edington and 1011 Coronado both closed for $1,150,000. 

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)
1-800-237-8817 (toll free)
To View the Entire Marco MLS go to: www.viewmarco.com

Marco Island Real Estate Statistics - First 6 months of 2016 vs 2015

The following statistics compare the first 2 quarters of 2016 to 2015

Sold Single Family Homes DOWN 23% (190 vs. 248)

Sold Condominiums DOWN 21%  (280 vs 355)

Sold Single Family Vacant Lots DOWN 47% (56 vs 105)

Average Sale Price Single Family Home UP 2% ($969k vs $948k)

Average Sale Price Condominium DOWN 12% (($497k vs $563k)

Average Sale Price Single Family Vacant Lot UP 33% ($566k vs 425k)

Total Dollar Value of all Single Family Homes Sold DOWN 22% ($184M vs $235M)

Total Dollar Value of all Condominiums Sold DOWN 30% ($139M vs $200M)

Total Dollar Value of all Single Family Lots Sold DOWN 29% (32M vs 45M)

Current Inventory:

297 Single Family Homes (UP 9% from 2015)

303 Condominiums (UP 22% from 2015)

325 Single Family Lots (UP 7% from 2015)

Summary:

$360 MILLION  dollars worth of Real Estate closed in the first 6 months on Marco Island. That's a 26% decrease when comparing this year to last, but folks that's still a lot of commissions. The Trump and Clinton camps both reached out to me to speak at their respective conventions to explain what is going on in the Marco Real Estate market. I understand America needs to know, but I respectfully declined as my faithful 7.6 readers of this newsletter tell me they love getting the inside skinny first. So, without further adieu here is how I want you to think about this 26% decline in sales. In 1961 Wilt Chamberlain averaged 50.4 points per game over the course of the season. As some of you may know Wilt was a very busy guy, but he still found the time to have a monster season. The next player after Wilt in the record books is a player some of you may have heard of, Michael Jordan. Mike averaged 37.09 points per game in 1986. That's 26% fewer points than Mr. Chamberlain had, BUT IT WAS STILL CONSIDERED A GREAT YEAR. Sometimes there is an epic "blip" and all the pieces fall together and something astounding happens. I know that records are meant to be broken, but sometimes there was nothing wrong with the year you have even if it's not a record breaker. So, I want you to know that last year was pretty epic, but things are still great this year.

Without Micro analyzing things here are some of the points you can take away from this.

1. There were a lot of very high end sales last year which puffed things up.

2. Inventory is coming back up and there are more choices; I think this gives buyers a little breathing room when pulling the trigger so things naturally slow down. (Second amendment/Real Estate joke here)

3. The buyer's are out there and the seller's continue to cut their prices trying to find that common ground.

4. Life is short, if you want it, can afford it, buy it.

For all you Democrats, Republicans and Others out there, I know you all want to know the monthly high and low sales regardless of your politics, so here goes. A home at 750 Rockport sold for $4,925,000.00 while a home at 161 Tahiti closed for $270,000. A condo in Coquina Gardens sold for $89,900 while Riviera PH925 in Hideaway closed for $1,950,000. A vacant lot in Hideaway sold for $187,500 while we had a tie for the high lot, 1136 Edington and 1011 Coronado both closed for $1,150,000. 

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)
1-800-237-8817 (toll free)
To View the Entire Marco MLS go to: www.viewmarco.com

Marco Island Real Estate Statistics - First 6 months of 2016 vs 2015

The following statistics compare the first 2 quarters of 2016 to 2015

Sold Single Family Homes DOWN 23% (190 vs. 248)

Sold Condominiums DOWN 21%  (280 vs 355)

Sold Single Family Vacant Lots DOWN 47% (56 vs 105)

Average Sale Price Single Family Home UP 2% ($969k vs $948k)

Average Sale Price Condominium DOWN 12% (($497k vs $563k)

Average Sale Price Single Family Vacant Lot UP 33% ($566k vs 425k)

Total Dollar Value of all Single Family Homes Sold DOWN 22% ($184M vs $235M)

Total Dollar Value of all Condominiums Sold DOWN 30% ($139M vs $200M)

Total Dollar Value of all Single Family Lots Sold DOWN 29% (32M vs 45M)

Current Inventory:

297 Single Family Homes (UP 9% from 2015)

303 Condominiums (UP 22% from 2015)

325 Single Family Lots (UP 7% from 2015)

Summary:

$360 MILLION  dollars worth of Real Estate closed in the first 6 months on Marco Island. That's a 26% decrease when comparing this year to last, but folks that's still a lot of commissions. The Trump and Clinton camps both reached out to me to speak at their respective conventions to explain what is going on in the Marco Real Estate market. I understand America needs to know, but I respectfully declined as my faithful 7.6 readers of this newsletter tell me they love getting the inside skinny first. So, without further adieu here is how I want you to think about this 26% decline in sales. In 1961 Wilt Chamberlain averaged 50.4 points per game over the course of the season. As some of you may know Wilt was a very busy guy, but he still found the time to have a monster season. The next player after Wilt in the record books is a player some of you may have heard of, Michael Jordan. Mike averaged 37.09 points per game in 1986. That's 26% fewer points than Mr. Chamberlain had, BUT IT WAS STILL CONSIDERED A GREAT YEAR. Sometimes there is an epic "blip" and all the pieces fall together and something astounding happens. I know that records are meant to be broken, but sometimes there was nothing wrong with the year you have even if it's not a record breaker. So, I want you to know that last year was pretty epic, but things are still great this year.

Without Micro analyzing things here are some of the points you can take away from this.

1. There were a lot of very high end sales last year which puffed things up.

2. Inventory is coming back up and there are more choices; I think this gives buyers a little breathing room when pulling the trigger so things naturally slow down. (Second amendment/Real Estate joke here)

3. The buyer's are out there and the seller's continue to cut their prices trying to find that common ground.

4. Life is short, if you want it, can afford it, buy it.

For all you Democrats, Republicans and Others out there, I know you all want to know the monthly high and low sales regardless of your politics, so here goes. A home at 750 Rockport sold for $4,925,000.00 while a home at 161 Tahiti closed for $270,000. A condo in Coquina Gardens sold for $89,900 while Riviera PH925 in Hideaway closed for $1,950,000. A vacant lot in Hideaway sold for $187,500 while we had a tie for the high lot, 1136 Edington and 1011 Coronado both closed for $1,150,000. 

 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)
1-800-237-8817 (toll free)
To View the Entire Marco MLS go to: www.viewmarco.com

Marco Island Real Estate Statistics - First 6 months of 2016 vs 2015

The following statistics compare the first 2 quarters of 2016 to 2015

Sold Single Family Homes DOWN 23% (190 vs. 248)

Sold Condominiums DOWN 21%  (280 vs 355)

Sold Single Family Vacant Lots DOWN 47% (56 vs 105)

Average Sale Price Single Family Home UP 2% ($969k vs $948k)

Average Sale Price Condominium DOWN 12% (($497k vs $563k)

Average Sale Price Single Family Vacant Lot UP 33% ($566k vs 425k)

Total Dollar Value of all Single Family Homes Sold DOWN 22% ($184M vs $235M)

Total Dollar Value of all Condominiums Sold DOWN 30% ($139M vs $200M)

Total Dollar Value of all Single Family Lots Sold DOWN 29% (32M vs 45M)

Current Inventory:

297 Single Family Homes (UP 9% from 2015)

303 Condominiums (UP 22% from 2015)

325 Single Family Lots (UP 7% from 2015)

Summary:

$360 MILLION  dollars worth of Real Estate closed in the first 6 months on Marco Island. That's a 26% decrease when comparing this year to last, but folks that's still a lot of commissions. The Trump and Clinton camps both reached out to me to speak at their respective conventions to explain what is going on in the Marco Real Estate market. I understand America needs to know, but I respectfully declined as my faithful 7.6 readers of this newsletter tell me they love getting the inside skinny first. So, without further adieu here is how I want you to think about this 26% decline in sales. In 1961 Wilt Chamberlain averaged 50.4 points per game over the course of the season. As some of you may know Wilt was a very busy guy, but he still found the time to have a monster season. The next player after Wilt in the record books is a player some of you may have heard of, Michael Jordan. Mike averaged 37.09 points per game in 1986. That's 26% fewer points than Mr. Chamberlain had, BUT IT WAS STILL CONSIDERED A GREAT YEAR. Sometimes there is an epic "blip" and all the pieces fall together and something astounding happens. I know that records are meant to be broken, but sometimes there was nothing wrong with the year you have even if it's not a record breaker. So, I want you to know that last year was pretty epic, but things are still great this year.

Without Micro analyzing things here are some of the points you can take away from this.

1. There were a lot of very high end sales last year which puffed things up.

2. Inventory is coming back up and there are more choices; I think this gives buyers a little breathing room when pulling the trigger so things naturally slow down. (Second amendment/Real Estate joke here)

3. The buyer's are out there and the seller's continue to cut their prices trying to find that common ground.

4. Life is short, if you want it, can afford it, buy it.

For all you Democrats, Republicans and Others out there, I know you all want to know the monthly high and low sales regardless of your politics, so here goes. A home at 750 Rockport sold for $4,925,000.00 while a home at 161 Tahiti closed for $270,000. A condo in Coquina Gardens sold for $89,900 while Riviera PH925 in Hideaway closed for $1,950,000. A vacant lot in Hideaway sold for $187,500 while we had a tie for the high lot, 1136 Edington and 1011 Coronado both closed for $1,150,000. 

 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)
1-800-237-8817 (toll free)
To View the Entire Marco MLS go to: www.viewmarco.com