Realtors: Marco market steady – prices up, closed property down
Multiple Listing Service statistics have been released by the Marco Island Area Association of Realtors for Marco Island-only properties comparing January-April 2016 to January-April 2015.
Total sold volume dollars for all property types was $207,380,800 for the period January-April 2016 v. $316,678,025 for the same time frame in 2015 as the market stays steady and stabilizes.
• The number of new listings for all property types that came on the market in the January - April comparison 2016 to 2015 increased 5.37% (804 v. 763). New single family listings coming on the market in the January – April comparison of 2016 vs. 2015 increased 13.56% (293 v. 258). The number of new lots coming on the market in the comparison increased 8.27% (157 v. 145). The number of new condo listings coming on the market decreased slightly 328 v. 338, a 2.95% decrease.
• The total number active listings for all property types is currently 1109. Total active single family properties 386; active lot listings 371 and active condo listings 352.
• In the four month year-to-year comparison, median sale price was up 10.73% from $475,000 to $526,000 for all property types. Median sale price for single family homes was up 2.73% from $730,000 to $750,000. Median sale price for lots was up 30.76% from $325,000 to $425,000 while median sale price for condos increased 0.60% from $410,000 to $412,500. (Median sale price means 50% of sales were above and 50% of sales were below.)
• Total number of closed for all property types was down in the period comparison as the market stabilizes (315 v. 451). Single family closed was down from 153 to 107; lots were down 71 to 36 and condos were down 222 v. 164.
It is always a good time to buy on Marco Island!
As always, please contact a local Realtor professional if you have any questions.
Contact Shanahan at 394-5616.