Real Estate Report: Market continues to grow
Nine hundred and ninety four homes, lots and condos on Marco Island sold in 2017, up 4 percent from the year before. This represents $694 million in sales volume, up 6 percent from 2016. Three hundred and eighty five houses sold last year for a total of $365.5 million. Four hundred and sixty nine condos sold last year for a total of $255.5 million, and one hundred and forty lots sold last year for a total of $73 million. Median price for a home in 2017 was $755,000; for a condo $425,000; and for a lot $344,000.
December 2017 statistics
Thirty three homes sold for $31.7 million. Sales prices ranged from $377,000 to $2.975 million. Median price of a home sold on Marco Island in December was $755,000. Inventory was 285 homes in December 2017 compared to 375 homes in December 2016, or a decline of 24 percent. Fifty two new listings came on the market in December, compared to 54 last year. List price range for a home was $349,000 to $7,950,000.
Thirty five condos sold for $18.6 million. Sales prices ranged from $100,000 to $1.530 million. Median price of a condo sold on Marco Island in December was $424,000. Inventory was 325 condos in December 2017 compared to 384 condos in December 2016, or a decline of 15 percent. Fifty nine new listings came on the market compared to 63 last year. List price range for a condo was $110,000 to $8,500,000.
Fifteen lots sold for $3.6 million. Sales prices ranged from $45,000 to $650,000. Median price of a lot sold on Marco Island in December was $212,000. Inventory for sale in December 2017 was 282 compared to 308 lots in December 2016, or a decline of 8 percent. Thirty two new listings came on the market compared to 28 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. As we enter 2018, inventory has declined from this time last year, the number of units sold is rising and prices are trending up. For more information please contact a local realtor.
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.