Guest Commentary: February 2012 MLS statistics for Marco Island show no let up for demand

MLS statistics, released by the Marco Island Area Association of Realtors for Marco Island only properties, continue to show a very active market.

Here is a recap of what happened in the Marco Island Real Estate market during February 2012.

– 73 total properties closed for a total of $36 Million (including Time Shares and Commercial).

– 24 single-family homes for $17.9 Million – Avg. sale price $747K.

– 30 condominiums for $12 Million – Avg. sale price $398K.

– 16 vacant home sites for $5.6 Million – Avg. sale price $348K.

– 93 total properties went under contract in the month of February.

– 29 single family homes.

– 45 condominiums.

– 18 vacant home sites

Inventory of what is currently on the market ...

– 371 single family homes

– 651 condominiums

– 329 vacant home sites

Sales continue to gain momentum as shown by the 93 properties that went under contract in February – this is a lot. (2012 was a leap year so we did get an extra day to sell.)

There appears to be no let up in demand for well priced properties, and as the supply is shrinking we are starting to see multiple offers on some listings.

The market is clearly showing signs of recovery from a quantity of listings selling standpoint, however the prices continue to remain flat. For the trailing 12 months, the overall average sales price is down 2.3 percent.

Contact a Realtor, member of the Marco Island Area Association of Realtors to find your dream home in paradise.

© 2012 marconews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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