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Marco Island, 2nd Quarter 2017 Real Estate Market Update

Marco Island, 2nd Quarter 2017 Real Estate Market Update
There was a 22% increase in the number of homes sold in 2017 compared to the first 6 months of 2016. Average home prices were mixed over the past 12 months with water direct homes down 11% , water indirect up 15% and Inland homes up 5%.  The average Lot prices have jumped with the higher end of the market selling better. Over the last 12 months the average water direct sale price was up 8%, indirect average prices were down 5%, and Inland was down 17%.  Total home units sold in 2017 versus the same period in 2016 were up 41, with 16 more water direct, 19 more water indirect, and 6 more inland homes sold. Overall, Inventory levels are down 4% from last year, units sold are up by 67 in 2017 with 2 fewer condos, 41 more homes, and 28 more lots sold this year vs. last year..

Click the following link to view my 2nd Quarter 2017 Real Estate Market Update:
http://www.marcohomeinfo.com/2ndQuarter2017RealEstateMarketAnalysis.pdf

Marco Island Florida - July 1, 2017 Inventory Analysis
Marco Island Inventory levels are Down 4% from this time last year.  There are 982 properties currently for sale on the island; 321 homes, 358 condos, and 303 lots.  Condo inventory is up 7% from this time last year, while the inventory of homes is down 4% and lot inventory is down 13%. Pending Sales of Homes is down 19%,  Pending Condos are down 21% and the number of Pending Lots is up 100%.  The total number of all pending units is down 11% compared to last year with 116 properties now under contract vs. 130 on July 1, 2016. There were 97 closings of Marco Island properties in the last month and 59 net new pending sales accounting for the decrease in total pending units from 154 last month to 116 currently.

Click the following link to view my July 1, 2017 Inventory Analysis:
http://marcohomeinfo.com/InventoryanalysisJuly12017.pdf?

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