The following stats compare October 2021 to October 2020
Sold Single Family Homes Down 38% (33 vs 54)
Sold Condominiums Down 51% (38 vs 78)
Sold Single Family Vacant Lots DOWN 70% (9 vs 30)
Inventory:
92 Single Family Homes (DOWN 46% from 2020)
74 Condominiums (DOWN 77% from 2020)
67 Single Family Vacant Lots (DOWN 61% from 2020)
233 Total Homes, Condos, and Vacant Lots for sale. THIS NUMBER IS VERY LOW!
Summary:
A total of $80 Million dollars worth of real estate closed on Marco Island in October 2021. Last month we sold $81 Million and last October the number was $126 Million. Due to circumstances beyond my control, I have not been keeping my 7.6 faithful readers up to date on the market, and for that, I apologize profusely. In my last newsletter, I said there was unbridled enthusiasm in the market, well now that same horse is not only unbridled, but it also jumped the fence and is getting ready to run in the Kentucky derby, and my money is on it. The market is beyond hot, it is currently nuclear. In this market, just like my horse, you have to be fast. When properties come on the market they are selling in hours, not days, I kid you not. The demand and money are there to back this up. If you are looking to purchase you need to let me know and jump on it when something becomes available. Conversely, if you are looking to sell let me know and I will go over some of the strategies for each of you to make the deal a successful one.
Speaking of nuclear, I recently had a doctor's appointment that required the doctor to get up close and personal. In the middle of the exam she looked, what I thought was lovingly into my eyes and said, "I love your cologne, what is it called". I said "fear" and she said "who makes it?", to which I replied "me". She laughed and said I passed the sniff test, however, I failed the medical exam and I'm not talking about the one you take to become a doctor. Anywho, she sent prescriptions to my Publix pharmacy and it took a week until they called and said they were ready to be picked which is 6 days longer than it normally takes, which I found odd. I then showed up to pick them up and was informed the one script was $1,300 for ten days of pills and that is WITH insurance. When I heard this I almost had a heart attack and died right there. It then dawned on me that the insurance company does this on purpose because they want you to have a heart attack, think about it, it makes economic sense for them to get rid of you. Hah, nice try insurance company not to be named! When I came back to my senses I asked the pharmacist why they only give you 10 days worth of pills and she said "well, you know". I said, "what do I know?" She said, "you know". I said, "listen you dirty drug dealer, tell me what's going on". She said, "well, hopefully for you (not the insurance company), you show up next week and I'll give you another 10 days' worth, get it?" - the insurance company doesn't want to get in too deep because your family can't return any unused pills". After selling my one half-good kidney to pay for the pills I then strolled from the pharmacy department in Publix to the produce section and starred at the green bananas for a while until I decided that might be a bad investment. And, along the same vein, the insurance company has now assigned me a private nurse that checks in with me every day at 9:00 A.M. prompt. I don't know if I'm paranoid or not, but it certainly seems to me she is disappointed when she hears my voice each day when I answer the phone and say "hello". I think she gets paid by the closed cases. BTW, the side effects of the medication are constipation, diarrhea, insomnia, drowsiness, numbness, tingling, erectile dysfunction that lasts 4 hours, memory loss, blurred vision, tremors, and then more diarrhea. Luckily they gave me 10 days worth of some other stuff that is guaranteed to cure 3 of the side effects, I certainly haven't figured out which 3 yet.
Now, my faithful 7.6 readers know this fable has something to do with the current market and I hopefully have enough mental clarity at this moment to explain it. Here it is. No matter what something costs, sometimes you just have to take the plunge and go for it. Sure, the market is hot right now and what you want to buy is now 30% - 40% more than a year or two ago. Who cares! If you want something and have the money I say GO FOR IT! You will get to enjoy that new home or condo and be happy you took the plunge. Nobody ever looks back and regrets a purchase on beautiful Marco Island. This is what life is all about, no regurts, trust me. The world as we knew it has changed and Marco has turned out to be the epicenter for the new world. Kind of like the colony that will someday be started on Mars. As a matter of fact, I heard they were going to name the Martian colony "Marco" which is short for Martian Colony.
The inquiring 7.6 faithful readers demand to know The high and low Sales for February, and they are as follows:
Single-family home, 1061 Bonita Court for $2,900,000. Condo, Prince PH 1&2 closed for $3,200,000. The vacant lot at 1539 Heights Court closed for $6,100,000. Rumor has it that the purchaser of this lot has lots of problems, however, MONEY ain't one of them.
For the bargain hunters and those that are certainly in the money, a 3 bedroom home at 1061 Hartley closed for $310,000, A condo in Aquarius G8 closed for $175,000, and a vacant lot at 383 Morning Glory Lane closed for $575,000. Lots are starting to vanish on Marco.
If you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought.
Past boring newsletters can be viewed here: https://viewmarco.
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)
To View the Entire Marco MLS go to: www.viewmarco.com
