MLS statistics, released by the Marco Island Area Association of Realtors for Marco Island only properties, continue to show a very active market. According to Gerry Rosenblum, President of the association, 2012 is off to a busy start.
Sales continue to remain strong and are stimulated by the fact that the 30 Year Mortgage recently dipped below four percent. Overall, buyer confidence seems to be steadily increasing as the stock market is rising.
Here is a recap of what happened in the Marco Island Real Estate market in January ...
– 70 total properties closed worth $34 Million (including Time Shares and Commercial)
– 22 single family homes for $19.3 Million – Avg. Sale price $880K
– 31 condominiums for $10.5 Million – Avg. Sale price $341K
– 15 vacant home sites for $3.2 Million – Avg. Sale price $214K
– 73 total properties went under contract in the month of January
– 29 Single family homes
– 29 Condominiums
– 12 Vacant home sites
Inventory of what is currently on the market ...
– 365 Single family homes
– 659 Condominiums
– 342 Vacant home sites
January 2012 and January 2011 activity comparison
Inventory on Marco Island continues to decrease. Total new listings, single family homes, is down in the January 2012 to January 2011 comparison by 17.33 percent. New listings, multi-family are down 10.19 percent in the same comparison.
Total active listings, single family homes, is down 26.85 percent and total active listings multi-family is down 16.26 percent in the January 2012 to January 2011 comparison.
Pending listings, all property types, are up by 14.06 percent. Pending listings, single family homes is up 31.82 percent. Total all property types closed (Marco Island only) is up by 16.67 percent.