The following statistics compare September 2018 to 2017
Sold Single Family Homes UP 43% (20 vs 14)
Sold Condominiums UP 129% (39 vs 17)
Sold Single Family Vacant Lots DOWN 23% (10 vs 13)
Pending Condominiums UP 133% (21 vs 9)
Pending Single Family Vacant Lots DOWN 33% (4 vs 6)
(Pending means it went under contract but has not closed yet)
Inventory:
261 Single Family Homes (DOWN 16% from 2017)
309 Condominiums (DOWN 7% from 2017)
286 Single Family Vacant Lots DOWN 1% from 2017)
856 Total - Not much!
Summary:
A total of $40 Million dollars worth of real estate closed on Marco Island in the Month of September 2018. $56 Million dollars last month and $22 Million in September 2017 (last year). For the first three quarters of 2018 we are at $563 Million compared to $546 Million for the same time period last year which is a 3% increase. Interestingly enough, the average sale price is up 3% during the same period. This month there were 3 single family home sales over $2M and 4 over $1M. The high-end market remains strong. As an aside, I had a preview of the inside of the new tower the Marriott built and it is simply amazing. I imagine plenty of cold folks will come spend a night or two and end up falling in love with our island and become future Marconians.
Now, my faithful 7.6 readers are looking at the above numbers and seeing some big green figures and turn to me to interpolate things in my own way. Well here goes. Ever been through a bad breakup or divorce? When you are in the moment things are pretty bad, but as they say, time heals all wounds and your memories of that no good cheating blankety-blank begin to fade. Well in this case, the no good blankety-blank was Hurricane Irma. She threw a hurting on the Real Estate Market and things really came to a halt last September. But ya know what? She ran off with Hurricane Michael and hopefully they never return. Things here on Paradise are 98.44% back to normal and the market is too. As the "season" approaches I am predicting the Real Estate market will remain very healthy, but we have to keep an eye on the upward creeping interest rates. While over 60% of our deals are cash, rising interest rates could keep a rein on the market with lenders looking at things with a more stringent approach.
So, the reason I am a little late with the newsletter this month is that my current wife and I celebrated our 25th wedding anniversary. (pause for applause) As usual, I received a lovely card from my first wife honoring our anniversary and it was filled with some lovely quotes such as "Silver means honoring twenty-five years of caring and sharing and teamwork". "Silver means coming so far and yet knowing the best years have just begun". My current wife read the card and said "what does silver mean to you?" and after much thought, I replied "second place".
Speaking of second place, Guido Kratschmer represented West Germany in the 1976 Olympics in the Decathlon which had Caitlyn Jenner (a.k.a. Bruce Jenner) win the gold medal while Guido won the silver medal. I met Guido at an Italian/German bar not long ago and asked him why he had recently turned to a life of drinking. His reply in an Italian/German accent was "it hadda beena badda enough all zee years having to live wit zee fact dhat I came und second in zee Decathlon, and now I find out I lost tu-a woman". (go back and read it slow a few times. It was hard for me to understand him too.)
By now you are wondering "what does this have to do with Real Estate" and I will tell you. We have two things to think about this month. The first is commitment. Choosing the right Realtor is like a marriage, it has it's ups and downs and rough patches, but you need to try and work things out because typically another one isn't any better. Communication is the key, but in case of a fight, I do try to avoid the makeup part with my customers. (wink wink). I have a good friend HP who called me regarding my 25-year commitment and said "big deal - I've been married over 40 years" to which I replied: "Yes, but to 3 different women". So, for most of you, I hope I am the one Realtor that can get the job done, but I understand for others, sometimes one isn't enough. The second precept this month is coming in second place. Sometimes in Real Estate you don't win and get exactly what you want. You may pay a little more, or get a little less. Not every deal is/has a flat out winner, but coming close isn't too bad. And ultimately, you need to remember you did better than the person that had the other Realtor and got Bronze...
For the faithful 7.6 readers who beg to know each month's high and low sale, here you go: The highs for the month are... a Single-Family Home for $2.55M at 161 Beach Dr. in Hideaway. For Condos, Cozumel 903 closed for $1,610,000. For Vacant Lots, 226 Edgewater Ct. closed for $625,000.
For you bargain hunters out there, a 3 bed/2 bath Single Family Home at 1301 Riverhead Ave. closed for $305,000. In Condos, we have a 1 bedroom Marco Villa closing at $122,500 and a Vacant Lot at 1872 Dogwood Dr. closed for $55,000!!!!!
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.
Barb and I are open to anyone that wants to take us to dinner so we can share the secret of our 25 years of bliss.
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
