The Real Estate Report: Home sales steady, inventory, condo and lot sales down

Gary Elliott
Marco Island Area Association of Realtors
Gary Elliott

Home sales were steady, and condo and lot sales declined in February compared to February 2017.  One-hundred fifty-three new listings came on the market in January, down 19 percent from a year ago. The inventory of homes, lots and condos for sale totaled nine-hundred seventy-six (976), down 16 percent from a year ago. A total of 66 properties sold in February, down 22 percent from last year. Total dollar sold volume was $45.7 million, down 23 percent from last year.

File: Aerial view from Beach Drive.

Homes

There were 320 active home listings in February, down 23 percent from February 2017. Thirty homes sold for $25.4 million compared to 29 and $30.2 million last February. Sales prices ranged from $300,000 to $2.1 million. Median price of a home sold on Marco Island in February was $721,500.

Sixty new listings came on the market in February compared to 68 last year. List prices for a home on Marco Island range from $335,000 to $7.2 million.

Condos

Inventory for sale was 353 condos in February 2018, down 15 percent from last year. Thirty condos sold for $17.9 million compared to forty-three (43) units and $21.3 million last February. Sales prices ranged from $110,000 to $1.45 million. Median price of a condo sold on Marco Island in February was $488,000.

Sixty-nine new listings came on the market compared to 80 last year. List prices for a condo on the island range from $110,000 to $8.5 million.

Lots

There were 303 lots for sale on Marco Island in February 2018, down nine percent from last year. Six  lots sold for $2.4 million compared to fourteen (14) and $7.8 million last year. Sales prices ranged from $180,000 to $975,000. Median price of a lot sold on Marco Island in January was $313,000.

Twenty-four new listings came on the market compared to forty-one last year. List prices for a lot range from $55,000 to $5 million.

As usual there is a wide range of properties for sale on Marco Island. Please check with a local realtor to help you find that just right property.

Written by Gary Elliott, president, Marco Island Area Association of Realtors. Call the Association at 239-394-5616 or visit www.marcorealtor.com. Data courtesy of Marco Island Area Association of Realtors Multiple Listing Service.