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)
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To View the Entire Marco MLS go to: www.viewmarco.com