The following stats compare May 2020 to May 2019.
Sold Single Family Homes DOWN 48% (24 vs 57) 11 HOMES CLOSED THAT WERE EACH OVER $1,000,000.00
Sold Condominiums DOWN 52% (22 vs 46)
Sold Single Family Vacant Lots DOWN 13% (13 vs 15)
Pending Single Family Homes DOWN 2% (47 vs 48)
Pending Condominiums DOWN 19% (35 vs 43)
Pending Single Family Vacant Lots UP 157% (18 vs 7)
(Pending means it went under contract but has not closed yet)
Inventory:
244 Single Family Homes (DOWN 24% from 2019)
352 Condominiums (DOWN 16% from 2019)
216 Single Family Vacant Lots (DOWN 32% from 2019)
812 Total Homes, Condos, and Vacant Lots for sale.
Summary:
A total of 48 Million dollars worth of real estate closed on Marco Island in May 2020. $65 Million dollars last month and $80 Million in May 2019 (last year). We are knee-deep in the virus but the Real Estate Market is doing well. The stock market is BOOMING for whatever reason and that money is finding its way into Real Property. The high-end home market is doing very well with 11 of the 24 sales this month over $1 Million. The vacant lot market is on fire as people are land banking or getting ready to build the dream of their home now or in the future. l recently went up to the Jersey Shore and there isn't a vacant lot to be found. On Marco, you can still find a nice WATERFRONT lot for in the $300,000's. I'd be jumping on that if I were you. The condo market is doing okay and part of the weakness there is low inventory. If you are thinking of listing your property, now is a great time as not only is the condo inventory low, all of the inventory is low. Again, if you currently have a mortgage now is a great time for you to look at refinancing it as rates are at record lows. All in all the virus has not had a devastating effect on our Real Estate market and if anything our warm climate and a healthy lifestyle has opened many people's eyes as to another great reason why it is great to live here. Come on down and join in!
As many of you know I have been living in the Port Marco Trailer Park next to the Snook Inn for a few months now and I am learning a lot about Trailer Park life from my neighbors. I would like to share some of this information with my 7.6 faithful readers because some of you may someday be living in a Trailer Park and you should know some ground rules. First, when living in a Trailer Park you don't refer to it as The Trailer Park, you simply say "The Park" and your neighbors are "Park People". Now, when I was a teenager we went to the town park to sneak beers, make out, and play basketball or baseball and we referred to that as going to "The Park", There are no courts in my new park, no making out, nor are there beers, there is however hard liquor because that is what big girls and boys do. In "The Park" you don't need a clock or a watch, except for when it's 4:30, because that is when Happy Hour starts. Now 4:30 does not mean 4:29 or 4:31, it means exactly 4:30 sharp. If for some reason our biological time clock is off, we use the Cesium Atomic Clock located in Boulder Colorado to synchronize ourselves to the start of Happy Hour. Next, Happy Hour does not in any way mean 1 hour in duration. It means you must be Happy for 1 Hour. Now, if it takes you 47 drinks and 6.5 hours to get Happy for 1 Hour, then that is how much time you must spend working on your happiness. Happiness does not come easy and sometimes you really have to work at it. This is serious business and nobody wants a grumpy Park Person so everyone helps everyone to be Happy. Also, in case someone chokes or has to activate the defibrillator (about 3 times per month) there is one Park Person that must drink half as much as everyone else and be the responsible party that day. If there are no volunteers, then each Park Person must sign a waiver stating they do not want to be resuscitated during Happy Hour. Special guests may be invited to Happy Hour, but there is a prerequisite that they previously lived in The Park or were related to someone that did. Next, never discuss politics, religion, current medications, and medical conditions, race, sex, spouses, (be they current, ex, living or deceased), favorite sports teams, physics, cuss, swear, talk about your home state, flip anyone the bird, tell dirty or clean jokes, or speak of anything controversial for that matter, UNLESS, of course, everyone is Happy at the same time. Now, being that your happiness is 100% guaranteed when living in The Park during Happy Hour, all of the aforementioned taboo items are discussed every day without fail. Next is clothing. As we live in close quarters and the trailers are like fish bowls with lots of glass, it is recommended that you at least wear underwear when cooking or cleaning. If it is laundry day and you are out of underwear, please shut your blinds or at least don't jump up and down like a contestant on The Price Is Right when a neighbor looks in.That leads me to cooking. Again, because we live in close quarters and the trailers are not airtight or bug tight, cooking bacon or curry is forbidden as everyone will smell it waft out and get hangry. Also, never EVER burn popcorn, as it stinks out the neighbors and they will also know they were not invited over to watch Trailer Park Boys on Netflix with you. Next, we have Sharing is Caring. What's yours is mine, is a way of life in The Park, unless of course, you don't want to share, then this rule can be ignored. This one is tricky so re-read it as there will be a test on this tomorrow. Next, we have bragging. First and foremost, nobody cares about what you have or don't have in The Park (unless it is bacon that you don't want to share during Happy Hour, I've seen knife fights break out over this). People are not living in The Park because they have to, it is because they CHOOSE to. Everyone in The Park is a millionaire in more ways than one. To prove this point, there are 16 owners and The Park is for sale for $16 million dollars. The last time an offer came in for $16 million cash they turned it down for no good reason other than to have something good to talk about during Happy Hour. Lastly, I would like to talk about the zoo factor. People go to the zoo to stare at the animals locked up in cages. When you live in The Park there are 1,876 signs up at the entrance that say "Private Property", yet all day, every day, people drive through to point and stare at the "Park People". Like the lions and tigers in the zoo, you eventually become desensitized to this and wait for the day that the caretaker accidentally leaves the cage door open and you can attack one of the visitors. This is just the tip of the iceberg when learning about Park Life. In the future, I will be hosting a week-long live away camp in trailer number 14 (it's the white one) for those that want to experience it first hand. Email me your selected weeks and proof that you are COVID free and I will send you an application with the fee structure.
Now, for the 1.6 of my 7.6 faithful readers who don't sign up for live away camp but want to know how the above applies to regular real estate, I will explain it. When living in a condominium building or neighborhood there are sometimes little idiosyncrasies that come with the community. Knowing these before you move in may help you acclimate quicker and be a better neighbor, or you may want to steer clear before you buy into that community. For Instance, it is widely known that the Bella Vista Condominium on Collier Boulevard is home to those with weak bladders. They keep their pool at precisely 98.6 degrees so there are no "warm spots" and they keep the chlorine content at 1,000%. Swimming with your mouth open is strictly forbidden and Happy Hour starts early at 10:00 A.M. Then we have the Rover Estates single-family home section of Marco. Most of the folks in that section have at least 3.4 free-range snowflake dogs. Reprimanding or controlling your dog is strictly forbidden and most of the residents there suffer from osteoporosis or sciatica which prohibits them from bending over and picking things up that have been left behind. For those anti-dogites, I would suggest the Kitty Hawk Condominium where the bylaws state you must have at least 12 or more house cats in your unit at all times. The Bird House Condominium used to be located next door, but due to escapism from the Kitty Hawk property, they now only allow owners to keep invasive iguanas or shotguns. But, in all seriousness, please know that condos have rules as does the City that must be adhered to. I know my 7.6 faithful readers want to be good neighbors and citizens so they abide by all the rules and if you are reading this you should too. Is it 4:30 yet?
The inquiring 7.6 faithful readers demand to know The High and Low Sales for the month of March, and they are as follows:
Single-family home, 1260 Marlin Court closed for $3,800,000 Cash. Condo, Madeira 1001 closed for $2,350,000 Cash by some Realtor that was shot in the belly 5 times. Vacant lot at 1311 Forrest Court Court closed for $2,225,000 Cash.
For the bargain hunters, a 3 bedroom home at 216 Castaways Street closed for $450,000. A condo in Coquina Gardens closed for $125,000, and a vacant lot at 1780 Granda Drive closed for $60,000, YES, you can still get a great deal on Marco Island.
If you want to invite out for dinner I will gladly take you up on the invitation. It's only half as fun now, but, it only costs you half as much too.
I won't be out fought or out thought!
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
239-450-4770 (cell)
1-888-239-5131 (toll-free e-fax)
1-800-237-8817 (toll-free)
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