Marco Island Real Estate Stats for April 2016

The following stats compare April 2016 to April 2015

Sold Single Family Homes DOWN 19% (34 vs 42)

Sold Condominiums DOWN 28% (51 vs 71)

Sold Single Family Vacant Lots DOWN 40% (9 vs 15)

Pending Single Family Homes DOWN 7% (51 vs 55)

Pending Condominiums DOWN 16% (71 vs 85)

Pending Single Family Vacant Lots DOWN 60% (8 vs 20)

(Pending means it went under contract but has not closed yet)

Inventory:

369 Single Family Homes (UP 22% from 2015)

342 Condominiums (UP 14% from 2015)

363 Single Family Vacant Lots (UP 8% from 2015)

Summary:

A total of $66 Million dollars worth of real estate closed on Marco Island in the Month of April, 2016 - $43 Million dollars worth in March 2016 and $97 Million in April 2015, last year. 

I told you last month the sky wasn't falling and all I can say is "what a difference a month makes".  While there is a lot of red ink above when comparing last April to this April, I want to throw some numbers at you that show what a nice rebound we had in April 2016 compared to March 2016. Ready? here goes... 97 total sales in April compared to 79 in March, that's a 23% increase. Total dollar volume sold in April $66 Million compared to $43 Million in March, that's a nice big 54% increase in dollar volume. 133 properties went under contract in April compared to 106 in March, which is a healthy 25% increase. So, what gives you ask? I'll explain it with a story. To begin with, Bill and Hillary, my seller's, saw the market slowing because of unrealistic asking prices as I have been saying all along.  Bill and Hillary, listened to me their listing agent, got smart and started to lower their asking price in response to a stalling real estate market. Donald, the buyer, who is one of my loyal 7.6 readers has been sitting on the sidelines patiently waiting for prices to enter his strike zone. Finally he felt comfortable with the reduced asking price and made his offer through me. I rolled up my sleeves and negotiated a win win situation for the buyer and seller's and I closed both sides of the deal and got a Payday candy bar. The moving truck was called, and soon, Donald will be moving into the house that was previously occupied by Bill and Hillary. 

It's that simple folks. There lots of Buyers out there and if you price your property correctly they do just like their name states, they Buy. Sometimes you need to spruce up a place along with pricing it correctly, but in the long run, it's money well spent.  Then you do like your name implies, you Sell.

For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are... a Single Family Home for $5,350,000 at 188 Beach Drive in Hideaway. The asking price was $8,950,000 which teaches you it never hurts to make an offer, the worst thing a seller can say is no. For Condos, Madeira 201 closed for $1,750,000 and for Vacant lots, 1045 Caxambas closed for $3,150,000, can't wait to see the house they build on that lot. 

For you bargain hunters out there, a Single Family Home at 1331 6th Ave. closed for $254,800.  A condo in Marco Villa (1 bed, 1 bath), on Tallwood Street closed for Short money at $81,000 and a Vacant lot at 143 Saxon closed for $129,000. As you see, 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.

And, if you are thinking of using me as your Realtor, keep in mind that I will never be out thought or out fought. 

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

Marco Island Real Estate Stats for the First Quarter of 2016 Compared to 2015

The following statistics compare the first quarter of 2016 to 2015

Sold Single Family Home Sales DOWN 34% (73 vs. 111)

Sold Condominium Sales DOWN 25% (113 vs 151)

Sold Single Family Vacant Lots DOWN 52% (27 vs 56)

Average Sale Price Single Family Home DOWN 3% ($917k vs $948k)

Average Sale Price Condominium DOWN 17% (($488k vs $591k)

Average Sale Price Single Family Vacant Lot UP 38% ($620k vs 448k)

Total Dollar Value of all Single Family Homes Sold DOWN 36% ($67M vs $105M)

Total Dollar Value of all Condominiums Sold DOWN 38% ($55M vs $89M)

Total Dollar Value of all Single Family Lots Sold DOWN 33% ($17M vs $25M)

Current Inventory:

399 Single Family Homes (Up 21% from 2015)

369 Condominiums (Up 18% from 2015)

365 Single Family Lots (UP 5% from 2015)

Summary:

$141,000,000 (That's $141 Million) worth of Real Estate closed in the first 3 months on Marco Island and there is lots of red ink above. Is the sky falling Chicken Little you ask? NO! is my emphatic reply.  Before I go into detail as to why I say no, I'm going to tell you a story with a moral as to why you need to believe me. So, here goes. I'm standing around at a party the other day sipping a Perrier (ok, that's a lie but the rest here is equally as partially true). I get introduced to a man who was a doctor. I asked him if he was a medical doctor to which he replied yes. I said good, I've had a sore throat for a few days, could you take a peek in my mouth and tell me what you see. He said okay and as he looked in his eyes got wide and he said "Oh, my - you've got two of the biggest hemorrhoids I've ever seen in the back of your throat". I take a swig off my Manhattan, I mean Perrier, and I ask "what kind of doctor are you?" to which he replies "I'm a proctologist"...

There are many morals wrapped up in this little story. The first one is, consult with an expert that knows what they are talking about and trust what they tell you. The second moral is don't trust someone's opinion just because they offer it up to you and pretend they are an expert (especially at a party where liquor is served). The third, people sometimes see what they want to see and believe it. In short, I know what I'm looking at when I look at real estate statistics on Marco Island, but that doesn't mean it applies to every part of the country. And no matter where you are, I would quit going to Zillow and looking at their "Zestimates" for they are as worthless as a proctologist looking in your mouth. 

Now for those of you that pay for this vital newsletter each month, I keep hearing and reading that the market is crashing, burning and armageddon is just around the corner. But, I'm here to tell you it's not true. Sure, the market cooled off but it's healthy now. The inventory is creeping back up. The average sale prices are correcting because there hasn't been a lot of very high end sales. And I'll point out that those prior very high end sales skewed the market to a point whereby everyone looking at average price was screaming the market is on fire. That mentality spilled over to the sellers who kept jacking up asking prices in an attempt to keep up with perceived escalating average sale price increases. This in turned caused the buyers to stop buying, because they too can read the same articles and decide this is a bad time to buy. So, now what is happening? I'll tell you what... and my faithful 7.6 monthly readers will back me up on this because I called this one months before any of the other pundit Realtor proctologists figured it out. The lower and middle markets were not on fire, even though the average sale price was increasing and the smart sellers who read my newsletter started lowering their prices. Now, many properties are being put back into the selling strike zone and I predict sales will remain nice and healthy. For example I recently did a deal where the seller was asking $499,000 for months... and months... and months... and it's a beautiful unit. He wakes up one day and scratches his head and decides to lower the price to $475,000, then he waits a bit longer with no action and lowers it again to $450,000. Within a week he gets an offer and sells for about $420,000. This may or may not have been an actual loss for him, but, he moves on down the road with one less headache in his life besides the one from toooo many Manhattans. 

By example, in the numbers way above, I report the average sale price of lots is up 38% for the quarter. This is because one very, very wealthy Marconian bought two lots for $4 million dollars in January to add to his collection and that pushed the average WAY up. Does that mean everyone with a lot for sale should jack their price up 38%, no, but I guarantee you some will see that number and do just that. Here is another tip, if the rich guy is buying, it may be a good idea to follow his lead.

Now for the high and low sales for the month. A home at 267 Shadowridge closed for $270K on the budget end and a home at 1286 Orange Court closed for $3,300,000 in the caviar section of Marco. A 2 bedroom condo in Marco Manor closed for $126k and beautiful beachfront unit in the Princess closed for $1,515,250. (Glad he squeezed that buyer for the extra $250). And in the lot world 1160 Bluebird closed for $115,000 and 900 Caxambas closed for $514K. Keep in mind folks that no matter how much you spend you still get to eat dinner at any of the great restaurants here on Marco Island.

Repeating myself for the millionth time, if you are thinking of selling, it is a great time to do so, as long as you price your property correctly. The old days of there being a distinct "season" have diminished and property sells year round. If you would like to be put on my daily update list of what is coming on the market, just send me an email and I'll plug you in.

And remember, I won't be out thought or out fought. 

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

Marco Island Real Estate Statistics - February 2016

The following stats compare February 2016 to February 2015

Sold Single Family Homes DOWN 13% (33 vs 38)

Sold Condominiums DOWN 37% (36 vs 57)

Sold Single Family Vacant Lots DOWN 53% (9 vs 19)

Pending Single Family Homes DOWN 36% (41 vs 64)

Pending Condominiums DOWN 35% (55 vs 85)

Pending Single Family Vacant Lots DOWN 85% (4 vs 27)

(Pending means it went under contract but has not closed yet)

Inventory:

380 Single Family Homes (UP 13% from 2015)

367 Condominiums (UP 9% from 2015)

355 Single Family Vacant Lots (UP 6% from 2015)

Summary:

A total of $53 Million dollars worth of real estate closed on Marco Island in the Month of February, 2016 (and this was a Leap year with a whole extra day to sell Real Estate!) - $46 Million dollars worth in January 2016 and $72 Million in February 2015, last year. 

The March 9th Headline of the Naples Daily News was - Forecast: SWFL home prices will rise, become overpriced. Being that I am the self proclaimed, and legendary without peer expert in our market statistics, I was captivated by this headline, especially since I didn't write it. So, as I sat and ate my Cheerios I went on to read that the firm, Local Market Monitor, making this prognostication is out of Cary, North Carolina. Further into the article I read that they base their numbers on "Mortgage data the company tracks". I then ran a top secret report on my computer (with PZ's help) and discovered that of the 116 total properties that closed in our MLS in February, 73 were for CASH, no mortgage. So I think their numbers may be a bit off to say the least based on their sample. I then folded up the paper and put it in the bottom of Polly's cage. The New Jersey in me then figured the folks from Cary, NC fly around the country and visit all of the beautiful 315 markets they track, spend a few enjoyable days there, then write it off as a business expense. I thought long and hard about how they make a living and have since sent them my brief resume. I want in. 

Here is what I can factually tell you. In February there were 295 price reductions out of 1,138 total listed properties. (Some properties had more than 1 reduction so I can't say that 26% of the properties had a price change). BUT, for those of you that are ever the optimist, there were 12 brave sellers that RAISED their asking price in February. Makes sense to me that if a property won't sell at X price, why not try X plus Y and blame the dang Realtor for not having enough open houses or full page color ads if it does not sell. This reminds me of a wine glass a friend of mine had that had a line in the middle with Optimisto written above the line, and Pessimisto written below it. The more I drank the more Optimisto I became. I also learned it is more important to know how much was left in the bottle than what was in the glass. Then I learned not to worry about what was left in the open bottle but how many unopened bottles were still left. Then I learned not to worry about how many unopened bottles there were, but what time the liquor store closed. So, the moral here is to look at the big picture and not just the little bit in front of you. 

With that said, I think it is crystal clear that seller's understand the market is pushing back on asking prices and the seller's are responding appropriately by lowering their prices. $53 million dollars worth of property closed on little old Marco Island in February so there are still some happy Seller's, Buyer's and Realtors. We need to sorta kinda ignore the average, mean, median and mode of the overall market and really look at the segment you are selling and buying in. Find yourself a Realtor that can guide you through this maze, and when you can't, call me. The great intangible that can't be quantified is just how great Florida, and Marco Island in particular, are to live in. There will ALWAYS be smart folks looking to come here and git some of the great lifestyle we have. The end is not near, but life is short, so enjoy it.

 

For the faithful 7.6 readers who need to know: The sold $$ leaders for the month are a Single Family Home for $1,900,000 at 1795 Hummingbird Court. For Condos, Cozumel 804 closed for $2,075,000 and for Vacant lots, 1128 Edington closed for $1,950,000. 

For you bargain hunters out there, a Single Family Home at 291 West Flamingo Circle closed for $344,000.  A condo in Seabreeze South, Unit K8 closed for $118,000 and a Vacant lot at 1010 Mendel closed for $215,000. 

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. 

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

Marco Island Real Estate Statistics - January 2016

The following stats compare January 2016 to January 2015

Sold Single Family Homes DOWN 11% (16 vs 18)

Sold Condominiums DOWN 23% (34 vs 44)

Sold Single Family Vacant Lots DOWN 47% (10 vs 19)

Pending Single Family Homes DOWN 22% (42 vs 54)

Pending Condominiums DOWN 40% (49 vs 82)

Pending Single Family Vacant Lots DOWN 55% (10 vs 22)

(Pending means it went under contract but has not closed yet)

Inventory:

360 Single Family Homes (UP 8% from 2015)

339 Condominiums (UP 4% from 2015)

318 Single Family Vacant Lots (Down 5% from 2015)

Summary:

A total of $46 Million dollars worth of real estate closed on Marco Island in the Month of January, 2016. ($42 Million dollars worth in December 2015 and $60 Million in January 2015). 

As I sit and ponder what witty things to say about the market to keep my 7.6 faithful readers riveted, I can't help but tell the truth as I see it. To be blunt, the market is cooling off rather quickly because asking prices are a bit inflated. Being a numbers guy (especially 36-24-34), I run all kinds of reports each month to gain a better perspective on market trends so I can factually tell you what is happening rather than guess. This month I ran a report that tells me there were 205 price changes to existing listings January in the MLS. The report then tells me 18 of those price changes were up and 187 were down! That tells us that the sellers are feeling this easing in the market (definitely those that have been reading this) and they are adjusting their prices downward to entice a buyer. To be more specific, I have been ranting about the high end market booming which was causing the average sales price of homes to look like they were skyrocketing, when it was simply a strong high end market pulling the average price upward. This month the average single family home price is down 36% to $991,000 when compared to last January, this is nothing to freak out over, just understand we didn't have a whole bunch of high end sales in January. That's it. Now sellers need to digest this and consult with their mediocre Realtor or me to look at their property and see how it compares specifically to the marketplace. You gotta have apple to apples here. You can also see that the inventory has started to creep up because some sellers were slow to react and they are putting their properties on the market thinking things are still booming. So, what typically happens is these new sellers are looking at the hot activity we had over the summer thinking that's where the market is, and the sellers that have been on the market all summer without a bite because they were priced a bit higher are now lowering their prices so they can pack up and move somewhere cold. And if you don't believe what I preach here, I want you to know there are Realtors that trust what I say, and as a compliment they take my name off of this report and send it to their own customers to help them see the light. This actually makes me happy because an informed buyer or seller is good to have in the marketplace, even though I don't get my 2 cent annual subscription. At the end of the day I truly believe everything is ok and there are plenty of buyers out there and mortgage rates are dirt cheap. The moral is to put your property in the strike zone and it will sell, don't spend $50,000 feeding the property with taxes, insurance, misc. fees, maintenance and aggravation to get another $25,000 out of it. (or whatever numbers you want to plug in) Hopefully you get the drift of what I'm saying. 

The sold leaders for the month are a Single Family Home for $3,7000,000 at 1491 Caxambas Court. For Condos, Riviera unit 922 closed for $1,675,000 and for Vacant lots, 2 lots at 511 and 525 Sandhill closed for $2,000,000 each. 

For you bargain hunters out there, a Single Family Home at 136 Tahiti closed for $345,000. (I originally sold that house to Betty and Fergie in 2000 for $155,000 and then sold it for them in 2007 for $355,000) A unit in Coquina Gardens closed for $129,900 (full price) and a Vacant lot at 640 Lewis Court closed for $195,000. 

I would also like to point out to Jeff G. that the object of buying a house where it's warm is to use that house when it is cold where you are. Once you figure that out, your wife will think you're almost perfect.

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. 

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

Marco Island - 2015 Real Estate Statistics Year End Review

The following MLS statistics compare 2015 to 2014 - Marco Island properties only

Total Value of All Property Sold on Marco Island UP 13% ($766 Million vs. $677 Million)

Total Number of Sales on Marco Island (All Property Types) UP .16% (1,179 vs. 1,177 )

Number of Sold Single Family Homes DOWN 11% (392 vs. 439)

Number of Sold Condominiums UP 4% (590 vs 569)

Number of Sold Single Family Vacant Lots UP 17% (179 vs.148)

Average Sale Price of a Single Family Homes Sold was $914,000 UP 19% from $770,000

Average Sale Price of a Condominium Sold was $551,000 UP 15% from $478,000

Average Sale Price of a Single Family Vacant Lot was $418,000 UP 5% from $399,000

The List to sell Ratio increased .2% from 93.77% to 93.97%.  This means that on average properties sold within 6.03% of their asking price. Put another way, the average sale price was negotiated down 6.03% from the asking price.  

Average days a sold property was on the market decreased 7% from 201 days to 188 days.

This means properties are selling quicker. (In this case the red is good)

Current Inventory of Single Family Homes is DOWN 7% (312 vs. 334) 

Current Inventory of Condominiums is DOWN 8% (301 vs. 326) 

Current Inventory of Vacant Single Family Lots is DOWN 16% (279 vs. 332)

State Of The Real Estate Market Address

2015 turned out to be the most prolific year sales dollar wise with $766 Million or over 3/4's of a BILLION dollars of sales taking place. (Powerball Marco Island style) To me the most telling part of our story is the total dollar volume of sales were up $89 Million dollars from last year, BUT, the total number of sales went up by only 2!  To the faithful 7.6 readers of this email all year (up from 3.2 last year) you have listened to me wax on and on about how the high end market has been booming and that is why the average sale price has been going up all year. Now you can see the proof with these numbers that I was correct and you can continue to have faith that 98% of what I tell you each month is true. (up from 97.9% last year). 

Currently the total number of homes, lots and condos for sale sits at only 892. That is a pretty small number when you start breaking things down to price points for a particular customer looking for a home, lot or condo. For instance, even if you have very deep pockets, there are currently only 9 homes for sale over $5,000,000 and it would break my heart if I showed them all to a customer and they didn't like any of them. However, there are 19 lots with asking prices from $2,000,000 to $7,450,000, so you can always buy the lot and build the dream house. I can tell you that with the new year upon us many properties are starting to come on the market and the inventory is creeping up a bit. 

Prediction for 2016: I believe the market will continue to be segmented. In particular I think there will be more and more high end sales (over $2 million) which will continue to make the average sale price increase. I base this on the number of spec homes being built that are at or above that price point and the fact that more and more high end buyers are seeing the value Marco Island offers versus other high end coastal communities. The second segment I see is the under $500,000 market which I believe will remain fairly steady. This segment of buyers are more sensitive to upward price movement and will simply pass if they don't perceive the value for the price asked. I also think the seller's in this segment feel this and understand it and are adjusting their prices downward in order to find the strike zone to sell their property. As I type this the DOW is down 500 points on the day and the stock market has certainly started off 2016 on a bad foot. While many of the buyers that come to Marco Island are either high wage earners, business owners or professionals that are somewhat immune to stock market fluctuations, nobody wants to buy real estate if they feel there is a significant economic downturn coming. Much of what is happening now is precipitated by what is happening in foreign economies and I have faith that things will get ironed out. This is also an election year for us and while I am no political pundit, it will be interesting to see how the winner of the election affects/effects our economy and markets. 

I know you want to know the record highs and lows from 2015, so here they are. Most expensive home sale 1549 Heights Court $7.5 Million, least expensive home 1570 Villa Court $214,500. Most expensive condo sale Madeira PH102 $6.45 Million, least expensive condo Seabreeze H-8 $75,000. Most expensive lot sale 350 Seabreeze $3.75 Million, least expensive lot 131 South Bahama $50,000. Proof that there is something for everyone on Marco Island. 

I have never ever had or heard of somebody buying a property on Marco Island and not loving it. Purchase what you can comfortably afford and enjoy yourself, because in the end, life is short.

And remember, I won't be out thought or out fought so call me if you want to buy, sell or argue. 

Here's to a Healthy and Happy 2016!

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

Marco Island Real Estate Stats for October 2015

The following stats compare October 2015 to October 2014 Sold single family homes DOWN 13% (26 vs 30) Sold condominiums UP 6% (37 vs 35) Sold single family vacant lots UP 44% (13 vs 9) Pending sales of single family homes DOWN 40% (26 vs 43) Pending sales of  condominiums DOWN 53% (34 vs 73) Pending sales of vacant single family lots DOWN 45% (11 vs 20) Inventory: 244 Single family homes (DOWN 15% from 2014) 238 Condominiums (DOWN 25% from 2014) 288 Single family lots (DOWN 6% from 2014) Summary: A total of $54 Million dollars worth of real estate closed on Marco Island in the Month of October, 2015. ($63 Million dollars worth in September 2015 and $50 Million in October 2014). Look above at the SOLD numbers, these are properties that closed in October. Now look at the PENDING sales, these are properties that went under contract in October and will close somewhere in the near future. What do those huge red PENDING numbers tell us? It tells us the number of people actually purchasing property is slowing down pretty dramatically. Why, you ask, is this happening? I'll tell you why, it's because many of the asking prices out there are unrealistic at this time and prospective "Buyers" are simply taking a pass and becoming "Waiters" (and I don't mean it in the restaurant server sense). "Buyers" start looking at recent closed comps and the current asking prices, and in many cases (not all) they are looking at a disparity. Couple that with a small inventory and many Realtors better have a nest egg built up to live on until this sorts itself out. I recently had a customer and we looked at a condo where another unit in the building had closed within the last 6 months for about $800,000. When this new listing came on the market the asking price was over $1 Million and it was inferior in many ways. What did my customer do after they saw it and the price? They said thanks for showing it to me, I'll wait. Then they asked: Will someone pay that number? I don't know I said. Will the seller eventually lower the price significantly if it doesn't sell? I don't know I said. Will another unit with a more realistic asking price come on the market and get gobbled up? I don't know I said. My customer then said "well, what do you know?". I said, "I better go check the egg in my nest" But kind of seriously, if you are a buyer, I believe you need to be patient. I believe you need to come to grips with paying a bit more for something than the last guy did. I believe the sellers have done a fine job testing the market and are coming to the realization that you can only squeeze the orange so hard, then nothing comes out. (Florida metaphor) I believe as season rolls around more properties will come on the market and many of those sellers are in it to sell it. Prices have come up to a point where they will be happy with their gain and move on. And, as every Realtor will tell you, there are X number of sellers that put their property on the market at a high price and give you the old "I don't care if I sell it, but if somebody wants to give me what I want I will." If you want to buy one of those properties, please call me. Apparently for many, a popular feature of my monthly update is the telling of the Home, Lot and Condo with the highest price sale. Not wanting to disappoint the 3 people that read this email, this month a house closed on the beach in Hideaway for $5,800,000, a vacant lot closed on the beach in Hideaway for $3,750,000 and a condo in the Madeira closed for $3,150,000. Like most of you and I, all of those buyers have problems, money just isn't one of them. 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 I will never be out thought or out fought.  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

Marco Island Real Estate Stats for the first 3 quarters of 2015 compared to 2014

The following statistics compare the first 3 quarters of 2015 to 2014

Sold Single Family Home Sales DOWN 10% (327 vs. 362)

Sold Condominium Sales UP 5% (478 vs 457)

Sold Single Family Vacant Lots UP 24% (148 vs 119)

Average Sale Price Single Family Home UP 26% ($923k vs $736k)

Average Sale Price Condominium UP 15% (($559k vs $486k)

Average Sale Price Single Family Vacant Lot DOWN 2% ($405k vs 414k)

Total Dollar Value of all Single Family Homes Sold UP 13% ($301M vs $266M)

Total Dollar Value of all Condominiums Sold UP 20% ($267M vs $222M)

Total Dollar Value of all Single Family Lots Sold UP 22% (60M vs 49M)

Current Inventory:

237 Single Family Homes (DOWN 13% from 2014)

218 Condominiums (DOWN 26% from 2014)

276 Single Family Lots (DOWN 2% from 2014)

Summary:

$633,000,000 worth of Real Estate closed in the first 9 months on Marco Island; I wonder if we will hit $1 Billion this year?! 

As the average sales price has crept up I have been screaming from the rooftops this has been a function of the amazing activity in the high end market and can't necessarily be applied to the rest of the market. The newspapers and most of my peers have finally started to look a bit closer at the numbers and are seeing the light. To elaborate, for the first 9 months of 2014 on Marco Island there were 98 sales from $1M to $2M, 15 sales from $2.1M to $3M and 3 sales over $3 Million with the highest sale in 2014 being $3,459,000 in 2014.  However, for the first 9 months of 2015 there were 115 sales from $1M to $2M, 21 sales from $2.1M to $3M, 13 sales from $3.1M to $4M, 2 sales from $4.1M to $5M, 1 sale from $5M to $6M, 2 sales from $6M to $7M and the grandaddy of them all is a sale at $7.5 million (1549 Heights Court for those that want to Google Earth it) This explosion in the rarified air of the high end market is astounding and as I mentioned it is pulling the average sale price across the board waaayyyy up. I can tell you that part of the reason for the sales activity of the high end market on Marco, is the relative bargain it represents when compared to Naples. The most expensive property for sale right now on Marco is the Belize Grand Penthouse with an asking price of $9.5M. In Naples there are currently 29 properties for sale over $10M with the most expensive property for sale being a home with an asking price of $68 Million dollars! (3100 Gordon Drive is the address and now is a good time for me to mention that if you are tired of slumming on Marco Island, I would be happy to help you buy this house) But seriously, the real estate market on Marco Island is as healthy as it has ever been and interest rates are still below 4% which bodes well for the near future.

Repeating myself again, if you are thinking of selling, it is a great time to do so, as the low inventory has buyers waiting for fairly priced properties. Advances in Internet Real Estate sites allow consumers to receive daily updates as new properties come on the market. When a good one comes up, they are jumping on it if the price is fair.  As I deal with buyers and sellers, I can assure you, I have the capability to assist you whether you are selling or buying. If you would like to be put on my daily update list of what is coming on the market, just send me an email and I'll plug you in.

And remember, I  won't be out thought or out fought. 

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