Guest Column: Marco Island real estate activity comtinues at high pace

MLS statistics, released by the Marco Island Area Association of Realtors for Marco Island only properties compares June 2013 with June 2012 activity.

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

- Sold single family home sales remained level (33 vs. 33).

- Sold condominium sales down 1.9 percent (52 vs. 53).

- Sold single family vacant lots up 31 percent (17 vs. 13).

- Pending single family home sales up 10 percent (54 vs. 49).

- Pending condominium sales down 6 percent (44 vs. 47).

- Pending single family vacant lot sales up 58 percent (19 vs. 12).

Inventory

- 314 Single family homes (down 3 percent from 2012).

- 428 Condominiums (down 20 percent from 2012).

- 240 Single family lots (down 15 percent form 2012).

Summary

A total of $59 Million dollars worth of real estate closed on Marco Island in the month of June, ($79 Million dollars worth in May 2013 and $49 Million in June 2012). While there is a definite “season” to our Real Estate Market, without question this proves sales don’t stop after April.

Sales are spread out across the board with a selling range of $85,000 to $4,400,000. This shows there is something here for everyone. It is interesting to note there were 13 sales over $1 Million Dollars. If there is any slowdown in the market at all, it is because of the shrinking inventory of what is available for sale. We dipped below the 1,000 mark in total homes, lots and condos for sale, we currently stand at 982.

With summer here, now may be one of the best times ever for you to search out your piece of Paradise as competition is a bit lower. If you are thinking of selling it is a great time too, as the low inventory is creating a sense of urgency in buyers which is now compounded by the fact that interest rates are rising.

As always, please contact your local realtor professional if you have any questions about buying or selling real estate.

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