Marco Island Real Estate Summary and 1st Annual Economic Summit

By Susan Ackerson

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties, compare August 2015 to August 2014. Inventory decreased 15.60% from a year ago for all property types, while at the same time the median sale price for all property types jumped 4.94% from $405,000 to $425,000, according to Susan Ackerson, President.

• The number of new single family listings that came on the market in August 2015 v. August 2014 decreased 6.25% (30 v. 32). The total number of single family properties active on the market in the year-to-year comparison decreased 11.81% (239 v. 271). The median sale price for closed single family homes increased 8.71% ($577,500 v. $531,250). Total sold dollar volume for single family homes decreased in August 2015 to $16,533,850 from $24,034,000 in August 2014, a 31.21% decrease.
• In regard to condo activity, number of new listings that came on the market this August v. last August decreased 15.00% (34 v.40). Total number of condos on the market from last year decreased 25.41% (226 v. 303). The median sale price for condos was up 24.48% ($357,250 v. $287,000). Total sold dollar volume for multi-family increased 28.10% from $13,014,559 in August 2014 to $16,671,000 in August 2015.
• Number of new lots coming on the market in August 2015 v. August 2014 increased 20.00% (18 v. 15). Total number of lots active on the market decreased 5.88% (272 v. 289) from last year. Median sale price decreased 48.21% ($145,000 v. $280,000). Total sold dollar volume decreased 55.21% ($1,544,900 v. $3,449,250).

(Median sale price means 50% of sales were above and 50% of sales were below.)

• Number of pendings for all property types is down 13.45%. Single family pendings in the comparison are down 20.41% (39 v. 49); Lots are up 63.64% (18 v. 11); and multi-family are down 25.42% (44 v. 59).
• Number of condos closed in the comparison decreased 15.79% (32 v. 38). Number of single family homes closed is down 38.10% (26 v.42) in the August-to-August comparison, while number of lots closed decreased 20.00% (8 v. 10) in the same comparison.

The Marco Island Area Association of Realtors® is hosting its 1st Annual Marco Island Economic Summit on Thursday, October 29, 2015 from 1:00 – 4:00 PM at Rose Auditorium.

Attend the economic summit to hear more about Marco Island real estate statistics and an economic forecast for Southwest Florida. Presenters are: Dr. Christopher Westley, FGCU, Professor of Economics; Jack Wert, Executive Director, Collier County Convention and Visitor’s Bureau; Cindy Carroll, SRA, Carroll & Carroll Real Estate Appraisers & Consultants; and Rick Medwedeff, General Manager, Marco Island Marriott Beach Resort & Spa.

To register, please send your check for $25.00 per person payable to Marco Island Area Association of Realtors® (MIAAOR), 140 Waterway Drive, Marco Island, FL 34145, along with the names of who will be attending. Any questions, please contact the Marco Island Area Association of Realtors® at 239-394-5616.

As always, please contact a local Realtor® professional if you have any questions.

Susan Ackerson is President for the Marco Island Area Association of Realtors®. Call 394-5616.