MLS statistics have been released by the Marco Island Area Association of Realtors® for Marco Island only properties comparing the first half of 2014 (January – June) to the first half of 2013. Total dollars volume sold of the Marco Island real estate market increased 12.98{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from $375,720,349 (2013) to $424,509,970 (2014).

Marco Island MLS Statistics, for Marco Island only property, show an increase in activity in 2014.

• Fewer new single family homes were listed for sale in the first half of 2014 vs. the first half of 2013 by a slight 1.65{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. Pending’s of single family properties for the first half comparison increased significantly by 38.81{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. Single family homes closed since January show an increase of 14.22{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from the same period in 2013.

• The average sale price (total sales in dollars divided by the number of sales) and median sale price (50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were above and 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were below) for closed single family homes was down a slight 1.59{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($774,746 vs. $762,405) while the median sale price was up 7.32{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($587,000 vs. $630,000). Total dollar volume sold for single family homes was $202,037,315 for the first half of 2014 which is up 12.40{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from the same time frame in 2013 ($179,741,010).

• Condominium activity: The number of new condo listings on the market the first half of 2014 compared to the first half of 2013 was virtually unchanged, down by only 0.23{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. The number of pendings in the condo category increased 31.42{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} in the same comparison.

• The number of closed sales of condos in the comparison is up 10.28{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. The average sale price was up 6.87{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($512,964 in 2014 vs. $479,964 in 2013) and median sales price was also up 11.24{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($376,000 in 2014 vs. $338,000 in 2013).

• Total dollar volume sold for condos in the first half of 2014 was $175,946,705 vs. $149,268,759 in 2013) was up 17.87{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}.

• Lot Activity: The number of new lots listed in the first half of 2014 increased by 19.23{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from the first half of 2013. The number of lots pending decreased by 13.92{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. The number of closed sale lots decreased by 17.27{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. The average sale price for lots increased 17.84{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($446,475 in 2014 vs. $378,881 in 2013). The median sale price increased 3.65{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($255,000 in 2014 vs. $246,000 in 2013).

• Total dollar volume of lots sold decreased a slight 2.51{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($40,629,200 in 2014 vs. $41,676,927 in 2013).
For all properties, the average sale price was up 6.44{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($599,590 in 2014 vs. $563,299 in 2013) and median sale price was up 19.36{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($463,750 in 2014 vs. $388,500 in 2013).

For those of you thinking about buying or selling property on Marco Island this is a great time to do so. As always, please contact Todd or Emily your local Realtors® lat Marco Home Sales if you have any questions 239-677-4507.