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Real Estate Report: Inventory, units sold and total dollar volume down

Gary Elliot
MIAAOR President
Gary Elliott

Home, condo and lot sales declined in January 2018 compared to January 2017. Two hundred and thirty seven new listings came on the market in January, up 7 percent from a year ago. Even with that increase in new listings this month, the inventory of homes, lots and condos for sale totaled 953, down 15 percent from a year ago. There was a total of 60 properties sold in January, down 18 percent from last year. Total dollar sold volume was $42.5 million, down 25 percent from last year.

January 2018 statistics

Homes

There were 310 active home listings in January, down 22 percent from January 2017. Fifteen homes sold for $16.9 million compared to 23 and $25.9 million last January. Sales prices ranged from $410,000 to $2.5 million. Median price of a home sold on Marco Island in January was $985,000. Eighty three new listings came on the market in January compared to 82 last year. List prices for a home on Marco Island range from $335,000 to $8 million.

Condos

Inventory for sale was 345 condos in January 2018, down 15 percent from last year. Thirty five condos sold for $21.9 million compared to 38 units and $27 million last January. Sales prices ranged from $165,000 to $3.1 million. Median price of a condo sold on Marco Island in January was $365,000. Ninety eight new listings came on the market compared to 100 last year. List prices for a condo on the island range from $110,000 to $8.5 million.

Lots

There were 298 lots for sale on Marco Island in January 2018, down 5 percent from last year. Ten lots sold for $3.6 million compared to 12 and $4.2 million last year. Sales prices ranged from $72,000 to $715,000. Median price of a lot sold on Marco Island in January was $292,000. Fifty six new listings came on the market compared to 40 last year. List price range for a lot was $49,900 to $4,995,000.

As usual, there is a wide range of properties for sale on Marco Island. Please check with a local realtor to help you find the one that's right for you.

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.