Sold Single Family Home Sales UP 9% (47 vs. 43)
Sold Condominium Sales UP 5% (60 vs 57)
Sold Single Family Vacant Lots UP 267% (11 vs 3)
Average Sale Price Single Family Home UP 9% ($991k vs $967k)
Average Sale Price Condominium UP 20% (($593k vs $495k)
Average Sale Price Single Family Vacant Lot UP 74% ($421k vs $242k)
Total Dollar Value of all Single Family Homes Sold UP 12% ($36M vs $28M)
Total Dollar Value of all Condominiums Sold UP 26% ($75M vs $55M)
Total Dollar Value of all Single Family Lots Sold UP 539% ($4.6M vs $726k)
Current Inventory:
340 Single Family Homes (DOWN 6% from 2016
371 Condominiums (Up 3% from 2016)
304 Single Family Lots (DOWN 14% from 2016)
A total of $87 Million dollars worth of real estate closed on Marco Island in May of 2017 compared to $71 Million dollars worth in May 2016. This makes an $80 Million dollar 3-Peat for March, April, and May. This translates into lots of happy Buyers, Sellers, Realtors, Lawyers, Home Watchers, Landscapers, Pool Cleaners, Tax Collectors and the Liquor Stores aren't complaining either. Things are clicking, the stock market is up, interest rates are still down, gas is cheap and Barbs scars are healing up nicely. I don't know if Obama put the wheels in motion, or if Trump is causing all this really, really great stuff to happen, but I hope we can all agree that it beats having crappy markets. Next year we will shoot for a $90 Million Trifecta.
So, if you look at the numbers above you will see lot sales are up 539% dollar volume wise, 267% units sold wise and 74% average price wise. What the heck is going on with the lots! Well, if you looked back a few months ago at my newsletter you would see that I predicted that lots were heating up and the place to be. A couple of my faithful 7.6 readers heeded the Oracle of Marco's advice and made their moves. Brilliant is all I can say and I still think vacant land is a great investment. I have a few listed and one particular listing in Hideaway is a catch. DISCLAIMER: As I don't have a license to sell securities, technically I don't think I can talk about investments. Therefore, I am adjusting the sentence to read "My friend Vinny Boombats, has a friend, who has a cousin, who knows a guy on Marco, and he said you gotta buy a lot on Marco from Gerry because he said the time is right, and try the pasta over at Ciao Bella, Bada Bing." Now, when Vinny tells you to do something you do it, or bad things could happen. Just saying....
So, we hop in Sue-B (The name of Lily's car for the 7.6 that may have missed it last month) and we head out to visit some colleges up and down the eastern part of this great country. UF, USF, FSU and an FU to the guy that cut us off on route 75. We finally get out of Florida and hit some of the Southern schools in Georgia, Virginia and North Carolina. All beautiful and all great Schools. We end up as far north as New York and then we start to head back. (I went to Penn State but with what's been going on there the last few years, we crossed it off the list) On the way back I did something stupid and thought we should check out Princeton. We walked around and the architecture was highlighted by the setting sun and we all agreed it was the most beautiful campus we had seen. I guess if I donate a few million she might have a chance at getting in. Which brings up the next point, can someone lend me a few million? Or, maybe one of the 7.6 readers went there and is willing to adopt Lily so she can get in as a legacy. And like every month, you start asking yourself what does this have to do with real estate? Here is this months point. A house sold this year in Naples for $17,700,000 (the taxes are about $130,000 per year). Is it beautiful? Yes. Is the lady of the house tall? Probably. Can you get a beautiful house on Marco for $16 Million less than $17,700,00? Yes. Will it be beautiful? Yes. Will Barb ever live there? No, she doesn't meet the height requirement. (nor can she go on the big rides at the amusement park) As always, I digress. The moral is there are great schools in great towns with great campuses. There are also great schools in great towns that cost a lot less to attend, but in the end, you will get the same thing out of them and that is the key. Marco is a great place, we have homes to fit all shapes and sizes (referring to your budget of course) and when you live here you will be a part of the Marco Island Fraternity. Would it be nice for Lily to go to Princeton, sure. Is it feasible and/or realistic? Probably not. Can she find a beautiful campus somewhere and get a great education and become a huge success then buy a $20 Million dollar house in Naples? I hope! (I'll even give her a break on the commission) Annie, her sister, will graduate from the New College of Florida next year and will probably tell me she wants to go to Princeton for grad school... Come on people, help me!
------Ultimately, I just want my family to be healthy and happy and I wish the same for all of you!-----
The sold $$ leaders for the month are... a Single Family Home for $4.4 Million at 1711 South Ludlow (asking was $5.5 million). For Condos, Veracruz 1903 closed for $2,520,000 (it was beautiful) and for Vacant lots, 741 Austin Court closed for $2,300,000
For you bargain hunters out there, a Single Family Home at 159 Cyrus Ave. closed for $375,000. A condo in the age of Aquarius, Unit O3, closed for short money at $108,000 and a Vacant lot at 464 Worthington closed for $78,000! Again, 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 or want to take Barb and me out to dinner. We are busy saving up for college....
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
Renoir of Annie
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