The following stats compare May 2018 to May 2017.
Sold Single Family Homes UP 11% (52 vs 47)
Sold Condominiums DOWN 13% (52 vs 60)
Sold Single Family Vacant Lots UP 27% (14 vs 11)
Pending Single Family Homes DOWN 22% (40 vs 51)
Pending Condominiums DOWN 7% (53 vs 57)
Pending Single Family Vacant Lots DOWN 27% (11 vs 15)
(Pending means it went under contract but has not closed yet)
Inventory:
274 Single Family Homes ( DOWN 22% from 2017)
375 Condominiums ( DOWN 1% from 2017)
304 Single Family Vacant Lots (DOWN 1% from 2017)
953 Total
Summary:
A total of $92 Million dollars worth of real estate closed on Marco Island in the Month of May 2018. $90 Million dollars last month and $87 Million in March 2017 (last year). Again we had 2 homes sales over $3 Million, 4 over $2 Million and 10 over $1 Million. It makes me think of a book I read a long time ago called The Millionaire Next Door. There were 2 vacant lot sales over $2 Million and the big boy award this month goes to a unit in the Madeira Condominium that closed for $6.2 Million CASH (naturally). These numbers clearly show a big commitment by some big hitters on our little island. However, all these rich folks are really starting to give me an inferiority complex, so if any of my 7.6 faithful readers are trained in Psychiatry I would appreciate a free consultation. I am willing to barter bad marriage advice....
After a big selling season, most of the Realtors on Marco are fat, rich and happy which is better than after the hurricane when they were skinny, poor and drunk. Or, was is it fat, poor and sober? Anyway, things really ended strong and as we head into the summer things still look very good. The stock market was/is strong and many buyers were/are selling some stock and paying cash for Marco Island Paradise. That makes me think about something. In the stock market there are things called Real Estate Investment Trusts or REIT's. I figure a couple of my 7.6 faithful readers have some serious dough and maybe we aught to start up an IPO and start buying up all of Marco Island. We could be hoarders and collect all the properties like real life Monopoly. Instead of Boardwalk and Park Place we could have Caxambas and Waterside Drives in our portfolio. We can only build houses, so it won't really be like the game, but some of the houses they are building here now are as big as hotels. The other change is we won't be using play money, we need real cashish to play and we don't pay anything to pass GO. So, who's in? Harold P., BoBoC., Barbie R.? As I ramble with this blog, my first wife, who also is my proof reader, tells me Fantasy Island should be the name of the REIT, because that's where I live, in a Fantasy world. Anyway, I can always count on her to ruin my Mojo and I guess I'll just keep selling them, just like I marry them, one at a time. A guy can dream, can't he?
So, what is the moral this month? I'll tell you what it is. Be happy with what you have. Sure that guy paid $6.2 Million cash for a condo, but little does he know the people living next door to him are nocturnal and make noise all night. The couple that paid $3.8 for the single family home? They could have bought it 6 months ago for $3.79 million and the folks that bought the expensive lot just found out that the lot isn't big enough to hold their 157' yacht, so they will have to sell the boat and get a 125 footer after they build the $10 million dollar house. Now those are real first world problems. And what is wrong in my perfect world, I'll tell you what, I just ate a big bowl of ice cream and forgot that I am lactose intolerant..... time for some paperwork.
Speaking of paperwork. Our eldest Andy graduated college and got the old sheepskin and I got some debt relief. The young'enWilly, is heading out on a road trip with me to evaluate colleges. Willy won the Wellesley College book award at her high school this year, but can't go there because apparently it is an all girls school which does not meet Wily's criteria.
The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of May, and they are as follows:
Single family home, 1629 McIlvaine Court closed for $3.8 Million. Condo, as mentioned above Madeira Estate 4 closed for $6,200,000 and a vacant lot at 405 Inlet Drive closed for $2,350,000.
For the bargain hunters, a 3 bedroom home at 1216 Fruitland Dr. closed for $285,000. A condo in Seabreeze West unit F8, closed for $118,000 and a vacant lot at 797 Whiskey Creek Dr. closed for $50,000, yes, that is correct and you can still get a great deal on Marco Island.
And, if you are thinking of using me as your Realtor, keep in mind that I will never be out-thought or out-fought. And, I would still love to have you take Babs and I out for dinner.
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
