REALTORS: Median single-family home price up 3.8 percent to $750K
Multiple Listing Service figures released by the Marco Island Area Association of Realtors for Marco Island only-properties comparing January through May with the same period a year ago shows inventory and prices up, while closed transactions are down.
Total sold volume for all property types was $278.11 million for January to May 2016 vs. $389.6 million for the same time in 2015 as the market continues to stay steady.
• The number of new listings for all property types that came on the market in the January – May comparison 2016 to 2015 increased 7.87 percent (959 vs. 889).
New single-family listings coming on the market in the January – May comparison of 2016 vs. 2015 increased 8.62 percent (340 v. 313).
The number of new lots coming on the market in the comparison increased 12.57 percent (179 vs. 159).
The number of new condo listings coming on the market increased 5.37 percent (412 vs. 391).
• The total number active listings for all property types is 1,025 – total active single-family properties, 333; active lot listings 347, and active condo listings 345.
• In the five-month year-to-year comparison, the median sales price was up 9.26 percent from $480,500 to $525,000 for all property types.
The median sale price for single-family homes was up 3.8 percent from $722,500 to $750,000.
Median sale price for lots was up 24.62 percent, from $329,000 to $410,000 while median sales price for condos decreased .82 percent from $423,500 to $420,000.
Median sale price means 50 percent of sales were above, with 50 percent of sales below.
• Total number of closed sales for all property types was down in the January – May comparison as the market stabilized (420 vs. 565).
Single-family closed sales were down from 195 to 150; lots were down 87 to 39 and condos were down 278 vs. 221.
Dick Shanahan is president of the Marco Island Area Association of Realtors. Call 394-5616.