The following stats compare April 2017 to April 2016
Sold Single Family Homes
UP 29% (44 vs 34)
Sold Condominiums
UP 12% (57 vs 51)
Sold Single Family Vacant Lots
UP 44% (13 vs 9)
Pending Single Family Homes
UP 16% (59 vs 51)
Pending Condominiums
DOWN 32% (48 vs 71)
Pending Single Family Vacant Lots
UP 113% (17 vs 8)
(
Pending means it went under contract but has not closed yet)
Inventory:
358 Single Family Homes (
DOWN 8% from 2016)
410 Condominiums (
UP 16% from 2016)
315 Single Family Vacant Lots
(DOWN 14% from 2016)
Summary:
A total of
$80 Million dollars worth of
real estate closed on
Marco Island in the Month of
April 2017 -
$80 Million dollars worth in March
2017 and
$66 Million in
April 2016, last year. Back to back $80 million dollar sales months is pretty impressive for lil'ol
Marco Island. I wonder what it is that we have here that so many people want? Perfect weather? nah. Great fishing? nah. Golf and Tennis? nah. The best
Real Estate newsletter? a strong maybe. More tall women per capita than any other
Island? (besides Amazon
Island)? could be. Great Happy Hours? Tito's on the rocks please. Our sugar sand beach? possibly. Well, I could go on and on, but the answer is
There is Something Great Here For Everyone. And as more and more people find out, they want to be a part of it. Remember, I view
Marco as a big fraternity and we all share a common bond. Now, if my faithful 7.6 readers tell two friends, and they each buy here, then those 15.2 people tell their two friends, then those 30.4 people tell their two friends....well you get the idea. It all simply means mo' money for me and my .37 Realtor friends and longer waits at the restaurants because eventually, the whole country will be living here. But I digress, back to the numbers. The $80 million in closed sales represents properties that were put under contract about 30,60, or 90 days ago when we were in the peak season. I'm sure May will have substantial closings as well, but when you look at the pending condo sales above and see the drop from 71 to 48 in
April compared to last year, I can see a bit of an easing in the condo market. Also upstairs you can see the inventory of condos for sale is on the rise which further solidifies a bit of a slowdown condo-wise. Why? I think the higher end of the condo market is fine. I think the lower end of the condo market crept up price wise to where folks may not be seeing the attractiveness of the lower priced condos. As time marches on some of these units are getting a bit tired, and when you go into some of them, see the condition, look at the asking price, it's sometimes hard to make the commitment. No, I'm not talking about Barbara. But, at the right price, everything sells and there were over 200 price reductions again in
April and hope springs eternal.
The third oldest woman in my condo, Lily, will be driving soon and we have been looking at cars for her. Tops on my list is a Subaru Impreza with Eyesight. This car has little cameras that "look ahead" on the road and can stop the car in an emergency and keep you in your lane if you "drift off". It also has a camera and sensors in the rear that "look behind" and will stop the car if you are going to back into something. Lastly, it has sensors that "look sideways" and will alert you if a snowbird is about to ram you. Fortunately, Bentley and Porsche don't have these safety features so I chalked them off our list. As always, about now you are wondering where this is heading and what it has to do with
Real Estate. Right? Well, stick with me. The objective is safety, whether you are buying a car, choosing a wife or buying
Real Estate. If you want a safe car, buy a Subaru. If you want a safe wife, I say choose a tall one. If you want a safe Realtor, choose one that can "look behind" in the market and tell you what happened, "look to the side" and tell you what is going on, then "look ahead" and make an educated guess as to what will happen. The object is to avoid having an accident and I'm your Subaru when it comes to that.
UPDATE: I was able to strong arm a Subaru dealer and we have leased Lily her first car. She named it Susanne Birdsong, thus giving the car the nickname Sue B. or Subie which Mr. Hall tells me is the Subaru street cred name.
And, the second oldest woman in our house finishes her third year of college today, which makes this the BEST DAY OF THE YEAR for Annie. Next year she gets to do her thesis.....
For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are a Single Family Home for $3,450,000 at 233 Polynesia Court. For Condos, Royal
Marco Point, Beach Cottage 20 closed for $1,500,000 and for Vacant lots, 741 Austin Court closed for $900,000.
For you bargain hunters out there, a Single Family Home at 1221 Samoa closed for $343,000. A condo in Seabreeze South, Unit P8 closed for $104,000 and a Vacant lot at 1903 Sheffield Drive closed for only $77,000.
As always, please reach out and contact me if you have any
real estatequestions or need advice on your Fantasy Baseball team.
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
