Marco Island Real Estate Stats and Commentary - April 2018

The following stats compare April 2018 to April 2017.

Sold Single Family Homes UP 7% (47 vs 44)

Sold Condominiums DOWN 2% (56 vs 57)

Sold Single Family Vacant Lots DOWN 23%  (10 vs 13)

Pending Single Family Homes UP 8%  (64 vs 59)

Pending Condominiums  UP 35%   (65 vs 48)

Pending Single Family Vacant Lots  DOWN 12% (15 vs 17)

(Pending means it went under contract but has not closed yet)

Inventory:

301 Single Family Homes ( DOWN 19%  from 2017)

371 Condominiums ( DOWN 7%  from 2017)

297 Single Family Vacant Lots (DOWN 6% from 2017)

969 Total

Summary:

A total of $90 Million dollars worth of real estate closed on Marco Island in the Month of April 2018. $69 Million dollars last month and $80 Million in March 2017 (last year).  

OMG - $90 Million dollars of sales in 1 single month, that is a lot of money changing hands and it was really focused in the single-family home market, as opposed to condos or lots. As a matter of fact $60 million of the $90 million were single family home sales. Playing a realtor dentist, I decided to drill down into the numbers until I hit a nerve and got a reaction that answered what happened. Here is what I can tell you. In the month of April there were 15 homes sold for over $1 million. Some rich person paid $4,000,000 and came in THIRD place. Yes, there was another sale at $6,325,000 and the winner who brought home the bacon this month and fried it up in a pan paid a whopping $7,225,000 for a beachfront home in Hideaway. (In the Port Royal section of Naples the same home would probably cost $37 Million, so I guess it's a deal in a sense). The $6,325,000 was also in Hideaway. So, if any of you out there are Fuller Brush or Electrolux salesperson's I would suggest you knock on the doors of the Hideaway folks. They have plenty of scratch in there. 

When I met my first wife she was pretty normal, nothing special. No money of her own, No dowery, No future prospects, brown mousey hair - like a 5 on scale of 1 to 10. On the upside she had a couple nice attributes and she was very tall and tan ( I used to say "worth the climb") but again, just a plain old Jane (except her name wasn't Jane). Anywho, while we were dating some other loser comes along and shows an interest in wife #1. I'm dating her and I'm scratching my head saying "what's this moron see in her?" I figure I'm missing something and it's making me crazy. I decide to spend more and more time with her, but, nope nothing, just plain old flameless Jane. Loser #2 (I'm #1) keeps sniffing around and it's driving me absolutely insane that I can't see what he sees in her. So, not being one to lose out at anything I slap a ring on her finger and declare myself the big winner and marry her. After a few years of pain and anguish it becomes crystal clear that the other guy really was an idiot because she had nothing to offer. I head for the hills and the rest is history. Recently someone told me she lost a few pounds and became a yoga instructor and still has a miserable very handsome and intelligent husband. Now, my faithful 7.6 readers of this newsletter know there is a moral to this story and are also thinking of old what's her name. Here is the connection. Nancy, my work wife, and I had a condo listed that was gutted to be remodeled and then the owner decided not to move forward with the remodel. So here we are selling a condo with no kitchen or anything in it. An offer came in within minutes of the listing hitting the MLS. Another agent called to show the unit and was told an offer had come in and they quickly wrote up an offer. Then a third agent jumped in with another offer. It's an offer frenzy folks and nobody knows why because we are selling a plain old Jane condo. So, the way we handled that is, we went back to the 3 agents and told them to bring us their best and final offer. The first offer came back at full price, cash as is. The second came back at $27,000 over asking, cash, as is. The third came back at $50,000 over asking cash, as is, close in 14 days. Winner Winner Chicken Dinner! 14 days later we are taking commission checks to the bank. The connection here to wifey #1 is that sometimes when somebody else wants what you want you might get a bit carried away and make a mistake. Or, sometimes you love something so much you just have to have it, no matter what it takes. (either way, you're stuck with it so you might as well enjoy it).

The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of February, and they are as follows:

Single family home, 1002 Royal Marco Way closed for $7,225,000.  Condo, Riviera Four Unit  628 closed for $1,350,000 and a vacant lot at 1628 Mcilvaine Court closed for $1,300,000.

 

For the bargain hunters, a 2 bedroom home at 1263 North Collier closed for $300,000. A 1 bedroom condo in Wexford Place unit 465, closed for $105,000 and a vacant lot at 393 Century Drive closed for $164,000, yes you can still get a great deal on Marco Island.

The dinner invites have been slow. M&S certainly showed us a good time and they aren't even customers, just folks that enjoy the newsletter and appreciate our company. (Company as in Barb and I, and company as in  Berkshire Hathaway Florida Realty Home Services)

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 

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