Season is here and things are busy! Welcome back to our Northern friends!
Statistics for Marco Island only properties, from the Marco Island Area Association of Realtors multiple listing service show high sales activity since the beginning of the year compared with the same time frame last year.
Statistics from Jan. 1, 2011 through Nov. 30, 2011, all property types, show an increase of activity and price compared to the same period of time last year, Jan. 1, 2010 through Nov. 30, 2010.
Sold listings are up 23.67 percent during this comparable time frame, and pending listings are up 19.45%. Volume of sold listings is up 24.18 percent.
At the same time, the median sale price remained steady as well as the average sale price. New listings, all property types, coming on the market in the 2010 and 2011 year-to-date comparison have decreased by 13.08 percent and the average days on market have decreased by 5.02 percent.
In a breakdown, new listings coming on the market for both single family homes and multi-family residences decreased in the year-to-date time frame by 24.08 percent and 11.77 percent respectively.
Month-to-month activity comparison – November 2010 with November 2011
Pending listings, all property types, are up in the November 2010 and November 2011 comparison by 21.21 percent. Total all property types closed (Marco Island only) was up by 20.93 percent in the same comparison
Total sold dollar volume was up 4.09 percent in the November 2010 and November 2011 comparison.
Meanwhile, inventory on Marco Island continues to decrease. Total active listings, all property types are down in the November 2010 and November 2011 comparison by 13.47 percent. New Listings coming on the market were down in the same comparison by 6.11 percent.
Happy Holidays to all our friends and readers and best wishes for a wonderful 2012.
May After Five, Marco Island Chamber
Catch of the Day: May 23, 2013
Scripps Interactive Newspapers Group
Comments » 3
deltarome writes:
Simple math says values continue to decline. With total dollar amount only going up 4% when there are 21% more closings, market continues to languish. Days of rising values are a loooonnnggg way off, if ever.
WhiskeyTangoFoxtrot writes:
deltarome is correct. 30 years of leverage coming out of the housing market,and other markets. American home values are going back to some degree of relation to average median income. Marco and other resort areas will command a premium, but that premium will continue to shrink going forward. It may also not be true in a few years.
I will make a prediction. In 5 years or less the 30 year mortgage does not exist anymore in the mortgage market place.
WizeOlMarco writes:
Whiskey TangoFoxtrot What do you think replaces the 30 year mortgage?
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