Guest column: $79 million of real estate closed on Marco in May

MLS statistics, released by the Marco Island Area Association of Realtors for Marco Island only properties compares May 2013 with May 2012 activity. Here is a recap of what happened in the Marco Island Real Estate market.

- Sold single family home sales up 58 percent (52 vs. 33).

- Sold condominium sales up 14 percent (67 vs. 59).

- Sold single family vacant lots up 142 percent (29 vs. 12).

- Pending single family home sales down 16 percent (41 vs. 49).

- Pending condominium sales down 1.5 percent (66 vs. 67).

- Pending single family vacant lot sales down 25 percent (21 vs. 28).

Inventory

- 330 single family homes (down 6 percent from 2012).

- 449 condominiums (down 20 percent from 2012).

- 252 single family lots (down 14 percent form 2012).

Summary

An impressive $79 million dollars worth of real estate closed on Marco Island in the month of May ($101 Million dollars worth in April 2013 and $53 million in May 2012).

While there is a definite “season” to our real estate market, without question things don’t stop after April.

Sales are spread out across the board with a selling range of $40,000 to $5,150,000. That proves there is something here for everyone. If there is any slowdown in the market at all, it is because of the shrinking inventory of what is available for sale. For instance, in the Madeira there are only two units currently for sale. Overall the inventory should stabilize somewhat as we enter summer and sales ease a bit.

With summer here, now may be one of the best times ever for you to search out your piece of Paradise.

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

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