Sold Single Family Home Sales NO CHANGE (33 vs. 33)
Sold Condominium Sales DOWN 29% (30 vs 42)
Sold Single Family Vacant Lots UP 267% (15 vs 9)
Average Sale Price Single Family Home DOWN 13% ($704k vs $808k)
Average Sale Price Condominium DOWN 9% (($538k vs $591k)
Average Sale Price Single Family Vacant Lot UP 90% ($588k vs $310k)
Total Dollar Value of all Single Family Homes Sold DOWN 13% ($23M vs $27M)
Total Dollar Value of all Condominiums Sold DOWN 35% ($16M vs $25M)
Total Dollar Value of all Single Family Lots Sold UP 539% ($4.6M vs $726k)
Current Inventory:
311 Single Family Homes (DOWN 5% from 2016)
343 Condominiums (Up 3% from 2016)
291 Single Family Lots (DOWN 13% from 2016)
A total of $48 Million dollars worth of real estate closed on Marco Island in July of 2017 compared to $55 Million dollars worth in July 2016. Okay, everybody is looking at the red numbers above and wants to know what is going on. First, it's the middle of the summer and things slooooow down every summer. Second, the weather, it has been raining so much I just sold a big boat slip to a guy named Noah. Third, the inventory is down, just 945 Homes, Condos and Vacant Lots for sale, and that isn't many. The upside to the inventory story is that the 2018 proposed tax bills just went out. Do you know what that means? It means, that like every other year, folks up north that have been thinking about selling their property get that tax notice and say "now is the time to sell". Then they call their favorite Marco Realtor and list their property for sale. Then they decide they really love Marco and when their property sells they buy a bigger and better one. And then they are even happier and the cycle of real estate life continues. Getting back to the numbers above, this is typical market seasonality and Sellers don't need to panic, and Buyers can't get all crazy thinking they are going to swoop in and steal something. It's just another day at the office.
I mentioned earlier about people buying a newer property or a second property and sometimes even more than that. I have one customer right now that owns 17 vacant lots and if you look a the numbers above you will notice all green numbers concerning vacant land. I've been screaming at you all to buy vacant lots and a few of you listened. So, when you buy more than 1 of something that you really like, or if you buy one and sell one to get a better one, that makes you a collector. And as you always ask, what does this have to do with Real Estate? And here is my answer: The only people I know with collections are rich people. The only other place you find collections are museums, which were endowed by philanthropic rich people. Now some of you reading this are already rich, so you are now fondly thinking about your collections of real estate, art, jewels, stamps, coins, marbles, and ex-wives/husbands. Now, I'm a student of life and real estate, so I figure, if you like all the things on the list I just typed, you will notice it starts with Real Estate. Rich people collect real estate, hence, if you are not rich, you should start buying more real estate, and before you know it, you will be rich. The equation for this is OWNING MORE REAL ESTATE + TRUSTING ME AS YOUR REALTOR = (RICH & HAPPY). Personally, I am a wife collector. I got a pretty good one to start my collection and have been constantly working on adding to it. My kid collection, is like my Picasso's, I can't figure them out, but I figure they're valuable so I'll keep them.
The other thing I collect are customers. They come in all shapes and sizes. They come from all parts of the world and some are from other planets. I have customers that are car dealers, and to my pleasant surprise, are always a pleasure to deal with (I was afraid of them at first). I have countless doctors, lawyers, professors, executives, and my nightmare accountant customers. (Trust me, I understand the numbers never work, but the true bottom line is that they love Marco). I have customers that worked very hard for their money, and those that got it the old-fashioned way, they inherited it. I have smart customers that married their money, which I should have done because I have learned that when the love is gone, the money is still there. I have a customer that owns a company that makes the little plastic piece that only allows one butt wipe to come out of the dispenser. (He is really cleaning up now!). I have a customer that owns a bunch of liquor stores and one that works at a drug and alcohol rehab. (They've never met) I've had professional athlete customers and one that ran a Nuclear Power Plant, (he is very easy to spot at night because he glows). I have Stock Brokers, Pilots, and even other Realtors from out of town (second worse, only to the accountants), Real Estate Developers, a Senator, and one of my favorites, who is a "Poor Old Sod Farmer".
Just like America, Marco truly is a melting pot (speaking of pot, I have a few Colorado customers who are the mellowest to deal with). The one common denominator for all of my customers is their love of Marco. Well, two common denominators, their love for Marco and their excellent choice of me as their Realtor. When I really think about it, I don't collect customers, I collect friends, because that is how I view each and every one of them, as a friend.
Now, back to business. The sold $$ leaders for the month are... a Single Family Home for $3.18 Million at 540 Alameda Court. For Condos, Cozumel 1601 closed for $1,750,000 (nice view) and for Vacant lots, 794 South Barfield Drive closed for $2,550,000 in the Estates section.
For you bargain hunters out there, a Single Family Home at 357 Third Ave . closed for $270,000. A Condo in Seabreeze West unit G8, closed for short money at $99,000 and a Vacant lot at 1432 Leland Way closed for $100,000 (purchased by a Realtor) - 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 me and my first wife out to dinner.
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
Picasso of Andy and Willy
