The following statistics compare November of 2017 to November 2016
Sold Single Family Homes DOWN 25% (21 vs 28)
Sold Condominiums UP 33% (28 vs 21)
Sold Single Family Vacant Lots DOWN 71% (4 vs 14)
Pending Condominiums DOWN 19% (38 vs 47)
Pending Single Family Vacant Lots DOWN 11% (8 vs 9)
(Pending means it went under contract but has not closed yet)
Inventory:
291 Single Family Homes (DOWN 20% from 2016)
325 Condominiums (DOWN 17% from 2016)
280 Single Family Vacant Lots DOWN 11% from 2016)
Summary:
A total of $52 Million dollars worth of real estate closed on Marco Island in the Month of November 2017. $48 Million dollars last month and $43 Million in November 2016 (last year). We had some whoppers close this month (which you will have to wait until the end of this report to read about) which pushed the gross sales and average sales price way up. As discussed in earlier newsletters we have properties closing now that were delayed by the hurricane and our numbers are looking a bit like a skinny guy in a stuffed Santa suit. Ergo, they look good, but there is a bit of fluff in there.
My 7.6 faithful readers are now worried that their sugar plum Real Estate Market (what is a sugar plum anyway?) isn't dancing like it was through their heads. And to this, I say Bah Humbug! Things are fine. But I am always honest with the 7.6 faithful and I have to say I looked at the Christmas Season sales past, present and I will now predict the future, and I see a slow down of sorts for the next few months. Why? I'll tell you why -- inventory. The number of properties for sale keeps dwindling because Marco is so great; why would you want to sell unless you are upgrading to a better property? Another problem is that four letter word IRMA, and here is how she still affects us: Why just today I was showing 2 beautiful beach front condos to some past customers of mine. Years ago when their kids were small they bought a 2 bedroom. Now Ralphie (who wears an eye patch) and Randy don't want to share a bedroom so mom and dad are looking for a 3 bedroom. We took a look at 2 units in one building and what to our wondering eyes should appear, but some drywall that showed rain was here. The workers are working feverishly to get things buttoned back up and it will be better than new when done, but in the meantime, my customers would prefer to sit back and wait until the work is complete before they commit. (Ironically the Mr. here is in the waterproofing business, go figure). Now there are dozens of units on Marco that are currently on the market in this state of flux and I tell you that once they are all squared away the buyers are going to jump on them. Also, a few condos will require that all the windows in units be replaced with hurricane glass and while this will take some of the cheer out of the holiday money for the current owners, it will add value to their units once done. There are also quite a few homes that are awaiting new roofs and once they get them they will be scheduled to close.
The New Year is almost upon us, and being Jewish, this is my chance to make an annual confessional to whoever/whomever will read this. In short, I've got a few things I would like to get off my chest so I can start this year off with a clean slate. To my first wife, I'm pretty sure I could not have treated you any better and I'm sorry if you disagree....well, maybe I could have been a little nicer. To my favorite children Andy and Willy, you do nothing but make your mother and me proud. To my second favorite kids Annie and Lily, you are becoming more like Andy and Willy every day and we know you will catch up to them soon. I'm sorry to myself for cheaping out this year and buying a bottle of Canadian Club to make my Manhattans instead of Crown Royale. Note to self, never do that again. I'm sorry I don't get enough sleep and I exercise too much. (I might have that one backward). I'm sorry that Irma came to town, but the roofers sure aren't. I'm sorry I sold some of my Apple stock before it hit a record high. I'm sorry I cursed 3 or 4 times........in the past 5 seconds. I'm really sorry I don't have more past customers like JCS who treat Barb and me to a lavish dinner every year. I'm sorry for my freestyle punctuation. I'm sorry for....uh, nope, that's it, it was a boring year.
With that off my chest, you ask, as always, "what does this have to do with Real Estate?" and true to form I will tell you. The past is the past and you can't change it, but the future is ours to see. And in your future I see you buying that dream home, condo or lot on Marco Island. I see you finally being happy and relaxed. I see your years of work, toil, scrimping, saving and suffering all coming together in the one magic moment when you stand on Residents Beach and see a Green Flash for the first time. (If you don't see it you're not drinking enough) Sure, you could have sent your kids to a private college, but you were fiscally smart and sent them to a State University and now you have money to play with. True story here: My grandmother once told her friend I was at the State Penn and I would get out in about 4 years. At the time, I was really an undergrad at Penn State. But I digress, listen folks, look around Marco and see how much happier people are here compared to, say, Nome, Alaska. We get 23 hours of sunshine each day while they get polar bears and stuff like that. And if you're not buying a piece of this, for some of you, I see me selling your home, lot or condo here on Paradise (if we price it right). And if I can't sell your property I give you these words. "It is great to be the first born, the second wife, and the third listing agent."
I wish you all Health, Peace, Love, and Happiness in 2018.
For the faithful 7.6 readers who beg to know each month's high and low sales, here you go: The highs for the month are... a Single-Family Home for $8.5 Million at 1440 Caxambas Court and another for $4.35 Million at 316 Seabreeze. (I should have married for money the first time.) For Condos, Belize PH2402 closed for $3.5 Million and Madeira 503 closed for $3.2 Million. For Vacant Lots, 350 Seabreeze closed for $3.625 Million. That is some serious coin folks.
For you bargain hunters out there, a Single Family Home at 372 Third Street closed for $274,800. In Condos, we have Seabreeze South M-8 closing at $112,500 and a Vacant Lot at 685 Sixth Street closed for $80,000. It bears repeating, we really have something for everyone including tall women.
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.
I still await the dinner invitations.
CLICK ON THIS LINK TO GET INTO THE SPIRIT OF THE SEASON
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
