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The Real Estate Report: Inventory continues to decline

Gary Elliott
President, Marco Island Area Association of Realtors

The inventory of homes, lots and condos for sale on Marco Island totaled 976, down six percent from a year ago. A total of 112 properties sold in April, about the same as last year. Total dollar volume sold was $88.7 million, up 12 percent from last year. One-hundred fifty-three new listings came on the market in April, down three percent from a year ago.

Gary Elliott

There were 297 active home listings in April, down 20 percent from April 2017; 47 homes sold for $60.1 million compared to 44 and $40.7 million last April. Sales prices ranged from $300,000 to $7.23 million. Median price of a home sold on Marco Island in April was $799,000. Fifty-five new listings came on the market in April compared to 53 last year. List prices for a home on Marco Island range from $315,000 to $7.2 million.

Inventory for sale was 364 condos in April 2018, down 12 percent from last year; 55 condos sold for $22.9 million compared to 57 units and $32.7 million last April. Sales prices ranged from $105,000 to $1.35 million. Median price of a condo sold on Marco Island in April was $333,000. Seventy-nine new listings came on the market compared to 78 last year. List prices for a condo on the island range from $120,000 to $6.25 million.

House key on a house shaped keychain resting on wooden floorboards concept for real estate, moving home or renting property

There were 293 lots for sale on Marco Island in April 2018, down eight percent from last year; 10 lots sold for $5.7 million compared to 13 and $5.9 million last year. Sales prices ranged from $164,000 to $1.3 million. Median price of a lot sold on Marco Island in April was $517,000. Seventeen new listings came on the market compared to 24 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: Inventory down 13 percent from 2017

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

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.