Real Estate Report: Inventory up 8% from last year
The inventory of homes, lots and condos for sale on Marco Island totaled 1,025, up eight percent from a year ago. A total 65 properties sold in December, which decreased 23 percent from December 2017.
Total dollar volume sold was $50.2 million, down seven percent from the previous December. One-hundred-fifty-seven new listings came on the market in December, up five percent from last year.
On a year-to-date basis, there were 976 sold listings during the year, which was down four percent from the previous year and total dollar volume for 2018 was $709.7 million, up just over one percent from 2017.
There were 318 active home listings in December, which was up five percent from December 2017. Twenty-four homes sold for $24.5 million compared to 33 and $31.7 million last December.
Sales prices ranged from $371,000 to $2.4 million. Median price of a home sold on Marco Island in December was $863,500.
Sixty-four new listings came on the market in December compared to 54 last year, which is an increase of 18.5 percent. List prices for a home on Marco Island range from $329,999 to $7.5 million. On an annual basis, there were 361 homes sold in 2018 versus three-hundred eighty-five (385) in 2017, a decrease of six percent, and total dollar volume for single-family homes sold was $363.6 million compared to $365.5 million in 2017, which is a 0.5 percent decline.
Inventory for sale was 385 condos in December 2018, up 14 percent from last year. Thirty-two condos sold for $23.3 million compared to 35 units and $18.6 million last December.
Sales prices ranged from $100,000 to $5.7 million. Median price of a condo sold on Marco Island in December was $445,000.
Sixty new listings came on the market compared to sixty-two last year. List prices for a condo on the island range from $105,000 to $9.9 million.
On a year-over-year basis, there were 485 condos sold during 2018 versus 469 in 2017, a three percent increase, and total dollar volume was $290.5 million compared to $255.5 million the previous year, which was a 14 percent increase.
There were 300 lots for sale on Marco Island in December 2018, compared to 283 last year. Nine lots sold for $2.5 million compared to 15 and $3.6 million last year.
Sales prices ranged from $48,000 to $630,000. Median price of a lot sold on Marco Island in December was $212,000.
Thirty-two new listings came on the market unchanged from last year. List prices for a lot range from $49,900 to $5 million. On an annual basis, there were one-hundred eight (108) lots sold during 2018 versus 140 in 2017, a 23 percent drop, and the total dollar volume was $51.2 million compared to $73.4 million the previous year, which was a 30 percent decline.
As usual there is a wide range of properties for sale on Marco Island. Check with a local Realtor to help you find that just right property.
Written by Steve Josselyn, president, Marco Island Area Association of Realtors. Call the association at 239-394-5616 or visit marcorealtor.com. Data courtesy of Marco Island Area Association of Realtors Multiple Listing Service.