The Real Estate Report: Inventory down 13 percent from 2017

The inventory of homes, lots and condos for sale on Marco Island totaled one-thousand three (1,003), down 13 percent from a year ago. Along with that lower inventory came a decrease in sales and volume. A total of 101 properties sold in March, down 15 percent from last year. Total dollar volume sold was $68.6 million, down 14 percent from last year. One-hundred seventy (170) new listings came on the market in March, up one percent from a year ago.

There were 323 active home listings in March, down 21 percent from March 2017. Twenty-nine homes sold for $24 million compared to 42 and $38.7 million last March. Sales prices ranged from $375,000 to $2.25 million. Median price of a home sold on Marco Island in March was $725,000. Sixty-two new listings came on the market in March compared to 66 last year. List prices for a home on Marco Island range from $325,000 to $7.2 million.

Inventory for sale was 376 condos in March 2018, down eight percent from last year. Fifty-six condos sold for $32.1 million compared to 59 units and $27 million last March. Sales prices ranged from $122,000 to $1.8 million. Median price of a condo sold on Marco Island in March was $488,500. Eighty-seven new listings came on the market compared to 77 last year. List prices for a condo on the island range from $110,000 to $6.9 million.

There were 304 lots for sale on Marco Island in March 2018, down six percent from last year.  Sixteen lots sold for $11.8 million compared to 18 and $13.3 million last year. Sales prices ranged from $85,000 to $2.9 million. Median price of a lot sold on Marco Island in March was $480,000. Twenty-one new listings came on the market compared to 20 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.

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

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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.