Sold Single Family Home Sales DOWN 15% (28 vs. 33)
Sold Condominium Sales UP 10% (33 vs 30)
Sold Single Family Vacant Lots DOWN 53% (7 vs 15)
Average Sale Price Single Family Home UP 34% ($940k vs $704k)
Average Sale Price Condominium UP 23% (($661k vs $538k)
Average Sale Price Single Family Vacant Lot DOWN 12% ($516k vs $588k)
Total Dollar Value of all Single Family Homes Sold UP 13% ($26M vs $23M)
Total Dollar Value of all Condominiums Sold UP 35% ($22M vs $16M)
Total Dollar Value of all Single Family Lots Sold DOWN 59% ($3.6M vs $8.8M)
Current Inventory:
245 Single Family Homes (DOWN 25% from 2017)
323 Condominiums ( DOWN 8% from 2017)
291 Single Family Lots (DOWN 3% from 2017)
859 Total Homes, Condos and Lots for sale, which isn't much.
A total of $52 Million dollars worth of real estate closed on Marco Island in July of 2018 compared to $48 Million dollars worth in July 2017. The market is hot, the weather is hot and my first wife is hot too. The market is hot because it seems the Buyers all want a piece of Marco Island. There are many theories floating around as to why the market is so strong and here is what I have to say. First, many Buyers think they will get a better deal in the summer when the Sellers are up north and they feel less attached to their property down here. They believe the Sellers might be caught in a weak moment and sell a bit cheaper. Is this true? If you want it to be true, it could be. If it's not true, we won't tell the Buyers. Second, the stock market only knows one direction lately and that is up. What do folks do when they have a few extra million laying around from the sale of their Apple stock? They come get'sum Marco. Is this true? If you had a ton of Apple stock and sold it, you should come talk to me and I will show you how it works. Third, living on Marco will make you taller, thinner, prettier, handsomer (is that even a word?), smarter and happier. Is this true? This is a fact and here is the proof. When I moved here my first wife was 4'8" and when she got some new sandals she was 4' 8-1/4", we had no money to buy food so she lost 10 pounds and the more I drank, the prettier she got, which proved how smart I was, which made me happy. You too can live this dream by buying a piece of Paradise. Now, going back to the beginning here $52 million dollars worth of Real Estate closing in the dog days of summer is impressive. Even more impressive is that year to date $467 Million dollars worth of Real Estate has closed on Marco. I believe I will round that up to HALF A BILLION dollars worth of closings. And I cringe a bit as I type this one, but look at the average selling prices up above for homes and condos. Things aren't getting any cheaper at this time. So yes Virginia, everything down here is hot....
Football season is just around the corner and as some of you don't know, I am an avid player of Fantasy Football. Hey, if you can't do it in real life you may as well do it Fantasy style. Each year starts out with a draft and deciding who to pick can be a nerve-wracking problem. Is Tom Brady the best Q.B? Is it smarter to go with a Running Back, and if so, do I gamble on a rookie like Saquan Barkley, a fellow Penn Stater? There are many decisions to be made and I put a lot of thought into the draft and who I want on my team. Now, I always have a moral to how things in life mimic Real Estate buying, and here is this months melange. In Fantasy sports you are pretty safe if you go with a proven player who has been at the top of the game year in and year out. In Real Estate you need a Realtor, say me, that has been a Top Producer, year in and year out. I've been on some good teams, and I've been on some bad ones, but no matter what, I could be counted on to get the job done. Rookies are for those that want to play long shots and hope they get lucky. Having a key player that anchors your team is critical to being a winner and minimizes your need to rely on luck. I know every home, every condo and every lot, which is equivalent to me knowing the playbook inside and out. I know what to look for and I know how to protect my customers from taking a hit. No Hail Mary's, no trick plays, and definitely no taking a knee. I just strap on my pen and hit the computer hard each and every day, because I believe that hard work and determination are the keys to everything. If you're looking to draft a Realtor, think of me as I still have to support my expensive first wife along with Andy and Willy. It's hard to get by with 7.6 faithful customers, but somehow we manage. And hey, I just really love buying and selling Real Estate, it's that simple.
Now, back to business for the faithful 7.6 readers who always want to know the high and low sales for the month. The sold $$ leaders for the month are... a Single-Family Home for $4.825 Million at 306 Seabreeze Dr. on the Beach in Hideaway. For Condos, Veracruz 802 closed for $2,380,000 and for Vacant lots, 1011 Coronado Ct. closed for $1,250,000.
For you bargain hunters out there, a Single Family Home at 1336 Bayport closed for $330,000. We have a tie in Condos with Aquarius S-9 going for $115,000 and Wexford Place Unit 5 selling for $115,000. I declare Wexford the winner because it had 2 bedrooms to the Aquarius's 1 bedroom. And a vacant lot at 397 Century Court closed for $170,000 - 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 me and my first wife out to dinner. And don't worry, she doesn't eat much.
And, if you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought, or out played.
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
