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Marco Island, 4th Quarter 2017 Real Estate Market Update

Marco Island, 4th Quarter 2017 Real Estate Market Update
There was a 7% increase in the number of homes sold in 2017 compared to 2016. Average home prices were mixed over the past 12 months with water direct homes down 6% , water indirect down 4% and Inland homes up 4%.  Lot sales slowed in the 4th quarter, but were up year over year. Over the last 12 months the average water direct lot sale price was down 37% with only 3 sales in the quarter, indirect lot average prices were up 3%, and Inland lot prices were up an average of 14%.  Total home units sold in 2017 versus the same period in 2016 were up 25, with 10 more water direct, 2 fewer water indirect, and 17 more inland homes sold.  Total lot units sold in 2017 versus the same period in 2016 were up 42, with 5 more water direct, 12 more water indirect, and 25 more inland lots sold.  Total condo units sold in 2017 versus the same period in 2016 were down 19, with 29 fewer beach/gulf, 7 more waterfront, and 7 fewer inland condos sold. Overall, Inventory levels are down 16% from last year, units sold are up by 48 in 2017 with 19 fewer condos, 25 more homes, and 42 more lots sold this year vs. last year..

Click the following link to view my 4th Quarter 2017 Real Estate Market Update:
http://www.marcohomeinfo.com/4thQuarter2017RealEstateMarketAnalysis.pdf

Marco Island Florida - January 1, 2018 Inventory Analysis
Marco Island Inventory levels are Down 16% from this time last year.  There are 880 properties currently for sale on the island; 284 homes, 322 condos, and 274 lots.  Condo inventory is down 15% from this time last year, while the inventory of homes is down 22% and lot inventory is down 11%. Pending Sales of Homes is flat compared to last year, pending Condos are down 11% and the number of Pending Lots is down 27%.  The total number of all pending units is down 10% compared to last year with 84 properties now under contract vs. 93 on January 1, 2017. There were 77 closings of Marco Island properties in the last month and 67 net new pending sales accounting for the decrease in total pending units from 94 last month to 84 currently.

Click the following link to view my January 1, 2018 Inventory Analysis:
http://marcohomeinfo.com/InventoryanalysisJanuary12018.pdf

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