The following stats compare October 2016 to October 2015
Sold Single Family Homes DOWN 4% (25 vs 26)
Sold Condominiums DOWN 43% (21 vs 37)
Sold Single Family Vacant Lots DOWN 46% (7 vs 13)
Pending Condominiums DOWN 6% (32 vs 34)
Pending Single Family Vacant Lots UP 64% (18 vs 11)
(Pending means it went under contract but has not closed yet)
Inventory:
313 Single Family Homes (UP 21 % from 2015)
362 Condominiums (UP 47% from 2015)
319 Single Family Vacant Lots (UP 9% from 2015)
Summary:
A total of $47 Million dollars worth of real estate closed on Marco Island in the Month of September 2016. $48 Million dollars last month and $54 Million in September 2015 (last year). For the trailing 3 months we are at $141 Million this year compared to $153 Million last year. There is an overall slowdown in the market and I know why. The answer/reason sales have been down is academically explained by the rarely recounted "couch potato theory of economics." We all know about the election. Buyers were sitting on the couch, glued to their favorite T.V. news source like Fox (For Only Xenophobes), CNN (Crappy News Network) and MSNBC (More Socialist Nonsense & Bull Crap) and this prevented them from getting out and buying homes, lots or condos. Sure, the Libertarians and Green Partiers were buyers, but their lack of numbers show up in our lack of numbers.
I choose this month to not belabor the numbers. I told you we had to get this election behind us and it almost is. I predict that sales will be very strong this season, maybe even better than last year, maybe not. I predict that appreciation will be somewhere below 87%. I know that if you worked hard your whole life and want to enjoy yourself, Marco Island is THE place to do that. Even if there was only one sale next month, I would say that was one smart buyer.
Many of you have complained that I am late getting this October edition out. The reason is there has been quite an upheaval in Chateau Rosenblum. Our older daughter who we now call "Snowflake" and attends a new college, burned her bra, stopped shaving her armpits and legs and told us she would soon be hitchhiking to North Dakota was all in for Madame Secretary Clinton. Our younger daughter Lily, who is upset her name even remotely rhymes with Hillary, is proud of the fact that at 15 years old she has never paid one cent in taxes and swears she's so smart she never will. Mitzi our dog likes to do her business in the grass, so she's a sworn Green Party lover. Put these three women in one condo, throw in a healthy dose of Barb and I, sprinkle it with some rum, and anybody that knows us well, knows the sparks were flying and we have recently called a truce. We took a vote amongst ourselves, as soon as we recount the results I will tell you who the household Presidential winner was.
For the faithful 7.6 readers who beg to know each month's high and low sale, here you go: The highs for the month are... a Single Family Home for $5,400,000 (asking price was $7,495,000 which makes this statistically a great deal) at 820 South Barfield. For Condos, Belize 1708 closed for $2.1 Million (asking price was $2.2M). For Vacant lots, 1539 Heights Court closed for $5,300,000. That's a big'un, then you have to pay to build the house.....
For you bargain hunters out there, a Single Family Home at 255 Tahiti sold for $305,000 (3 bedrooms, no pool). In condos we have an efficiency unit in Seabreeze South for $118,000 and a Vacant lot at 230 Bermuda closed for $90,000. I can tell you that the lower priced condos and lots are selling like crazy. Two customers of mine, Bob and Sheila jumped in this month and got a great deal. They were smart, got themselves a starter condo and in a few years they will be movin on 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 that I will never be out thought or out fought.
GO PENN STATE!!!
I still await the dinner invitations.
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
