Your Turn: MIAAOR - Beware of fake sellers
With median sale prices continuing to increase, it is alarming to think that there has also been an increase in “fake sellers” trying to list property that they don’t own.
These fraud artists or “fraudsters” have been on the rise during the pandemic due to the increase in online transactions. So far there have been no reports of the fraudsters obtaining money, but it would be wise to keep an eye out for suspicious activity in our neighborhoods.
Total inventory continues to be down by 62 percent, with lots accounting for 61 percent decrease in average days on market. However, prices continue to climb! Median sale prices for homes are up 44 percent, condos are up 37 percent, and lots are up seven percent.
Days on the market also continue to drop across all property types; condos being the least averaging only 31 days, down 75 percent from this time last year. Total closed properties for the month of January were at 99. Total dollar volume was at $107 million.
Data courtesy of Marco Island Area Association of Realtors Multiple Listing Service (MLS) for the period November 2020 and November 2021. For the purpose of this report, the following property types are measured: single family homes (RE1), condos (RE2), and lots. Decimals rounded to the nearest whole number.