MARCO ISLAND REAL ESTATE SUMMARY SEPTEMBER 2015

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{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from a year ago for all property types while at the same time the median sale price for all property types jumped 4.94{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} 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{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (30 v. 32). The total number of single family properties active on the market in the year-to-year comparison decreased 11.81{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (239 v. 271). The median sale price for closed single family homes increased 8.71{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($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{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} decrease.

• In regard to condo activity, number of new listings that came on the market this August v. last August decreased 15.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (34 v.40). Total number of condos on the market from last year decreased 25.41{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (226 v. 303). The median sale price for condos was up 24.48{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($357,250 v. $287,000). Total sold dollar volume for multi-family increased 28.10{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} 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{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (18 v. 15). Total number of lots active on the market decreased 5.88{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (272 v. 289) from last year. Median sale price decreased 48.21{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($145,000 v. $280,000). Total sold dollar volume decreased 55.21{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($1,544,900 v. $3,449,250).

(Median sale price means 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were above and 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were below.)

• Number of pendings for all property types is down 13.45{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}. Single family pendings in the comparison down 20.41{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (39 v. 49); Lots up 63.64{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (18 v. 11); and multi-family down 25.42{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (44 v. 59).

• Number of condos closed in the comparison decreased 15.79{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (32 v. 38). Number of single family homes closed is down 38.10{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (26 v.42) in the August-to-August comparison while number of lots closed decreased 20.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (8 v. 10) in the same comparison.

As always, please contact a local Realtor® professional, Emily or Todd at 239-677-4507 if you have any questions.

MARCO ISLAND REAL ESTATE MARKET UP
OCTOBER 2014 TO OCTOBER 2013 COMPARISON

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare October 2014 to October 2013.

Contrary to the reduction of pending and closed sales in the 3rd quarter of 2014, real estate agents  across Collier  County reported being very busy keeping up with the growing demand. This anomaly, as  confirmed by a panel of  brokers analyzing the NABOR® 3rd Quarter 2014 Naples area market  statistics, is likely a result of the market  experiencing an influx of new home construction that, while  not reported in the Southwest Florida MLS, has  replenished the void resulting from a decreased  inventory in the resale market.

 “I don’t think the market need has changed,” said Steve Barker, Advising Broker for Equity Realty.  “Agents are  showing homes every day because the new construction market has finally caught up to  the demand. But the resale  market is still desirable as location continues to be a factor for many new  home buyers and the new construction  market can’t be everywhere.”

 The NABOR® 3rd Quarter 2014 Report provides comparisons of single-family home and  condominium sales (via  the Southwest Florida MLS), price ranges, and geographic segmentation and  includes an overall market summary.  The NABOR® 3rd Quarter 2014 sales statistics are presented in  chart format, including these overall (single-family  and condominium) findings: 

• Pending sales of single family homes over $2 million increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
• Pending sales of condominiums between $1 million and $2 million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd quarter 2014.
• Overall closed sales in the $300,000 to $500,000 category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd quarter 2014.
• Overall closed sales in the $1 million to $2 million category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd quarter 2014.
• Overall median closed price increased 13 percent from $234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
• Overall median home price of homes over $300,000 decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd quarter 2014.
• Overall inventory decreased 9 percent from 4,080 homes in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
• Overall inventory of single family homes in the $300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter 2013 to 487 in 3rd quarter 2014.

 According to Kathy Zorn, broker/owner at Florida Home Realty, “Homes priced under $300,000 may  make up over  60 percent of our market but this is not our entire market. In fact, the 3rd quarter report  showed an increase in  inventory of single family homes in the combined price categories above  $300,000, which accounts for 1,564 homes  or 42{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of the overall 3rd quarter inventory.

 NABOR® also released its September 2014 Market Report, which revealed the following:

• Overall pending sales increased 2 percent from 810 in September 2013 to 829 pending in September 2014.
• Overall closed sales decreased 3 percent from 9,919 in the 12-months ending September 2013 to 9,585 closed sales in the 12-months ending September 2014.
• Overall median closed price increased 14 percent from $230,000 in the 12-months ending September 2013 to $262,000 in the 12-months ending September 2014.
• Overall inventory decreased 9 percent from 4,080 in September 2013 to 3,702 in September 2014.

As always, contact us for any and all of your real estate needs in Marco Island and Naples.  We can also help you find a great agent anywhere in the US.  Call, e mail or text us today at 239-677-4507 or [email protected] / [email protected] .

Starting December 1, 2014 stop in and check out our BRAND NEW OFFICE next to Dunkin Donuts on Marco Island. The address is 1089 N. Collier Blvd # 436 in the Marco Town Center!

MARCO ISLAND REAL ESTATE MARKET STEADY
AUGUST 2014 TO AUGUST 2013 COMPARISON

PRESENTED BY MIAAOR

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare August 2014 to August 2013.

Marco Island MLS Statistics, for Marco Island only property, continues to be a sellers market, according to the Marco Island Area Association of Realtors. Active inventory continues to decrease from a year ago and pending statistics for all property types are up.

• Home Activity: The number of new single family properties listed for sale in August 2014 v. August 2013 was unchanged (31 v. 31). The total number of single family properties active on the market decreased by 18.38{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (262 v. 321). The average sale prices decreased by 15.40{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($572,238 v. $676,373) while the median sale price for closed single family homes decreased by 3.23{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($531,250 v. $549,000). Total sold dollar volume for single family homes increased from $20,967,550 in August 2013 to $24,034,000 in August 2014, a 14.62{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} increase.

• Condominium Activity: The number of new “condo” listings this August v. last August decreased by 7.14{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (39 v.42). The total number of condos on the market from last year has decreased by 26.30{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (297 v. 403). The average sale price for condos was down 12.03{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($342,488 vs. $389,305), while the median sale price for condos was up 7.29{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($287,000 v. $267,500).

• Total sold dollar volume for mutli-family decreased 24.02{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from $17,129,440 in August 2013 to $13,014,559 in August 2014.

• Lot Activity: Newly listed Lots in August 2014 v. August 2013 decreased by 16.67{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (15 v. 18). Total number of active Lot listings increased 20.50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (288 v. 239) from last year. Average sale price was up 5.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($344,925 v. $328,488) while median sale price was down 21.34{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($280,000 v. $355,950).

(Average sale price is total sales in dollars divided by the number of sales and median sale price means 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were above and 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were below.)

• Pending Sales: The number of pendings for all property types was up 3.48{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}.
Single family pendings in the comparison is up 6.52{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (49 v. 46); Lots up 10.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}
(11 v. 10) Multi-family up 3.51{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (59 v. 57).

• Closed Sales: The number of Single Family homes closed is up considerably 35.48{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (42 v.31) in the August-to-August comparison. The number of condo’s closed in the comparison is down 13.64{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (38 v. 44) and the number of lots closed was up 25.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}
(10 v. 8) in the same comparison.

• For all property types, average sale price was down 30.02{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($439,428 v. $627,940) while median sale price was up 1.50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($405,000 v. 399,000).

We continue to see a strong market with rising values but low inventory. As always, please contact Emily or Todd if you have any questions.

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.

Due to some improvements to our website, we had to delay our market updates and we greatly apologize for the delay.

So without further adieu, welcome back to our WEEKLY MARKET UPDATE of the Marco Island market!

Below are the statistics from Marco Island MLS as of last week from 2-24/2014-3/2/2014.

Single Family Homes
20 New Listings ranging from 299,900-3,995,000
10 Pending Listings ranging from 230,000-729,900
13 Closed Sales ranging from 307,500-2,285,000

Condos
24 New Listings ranging from 180,000-2,295,000
15 Pending Listings ranging from 89,000-1,950,000
20 Closed Sales ranging from 180,000-1,925,000

Lots
11 New Listings ranging from 240,000-1,700,000
4 Pending Listings ranging from 350,000-650,000
4 Closed Sales ranging from 240,000-1,700,000

SINGLE FAMILY HOMES–As you can see, more properties left the market this week than came on.  Our inventory is SHRINKING, Shrinking, Shrinking fast!  And of course with your basic Economics 101, as demand continues to rise and the supply continues to fall, prices will also continue to rise—good for the seller, not so good for the buyer!  If you are in the market for a single family home, call or e mail us so we can help you get the right property before it is SOLD!

CONDOS–The single family home inventory also explains the movement in the condos.  As single family home shoppers are getting squeezed out of their price point, they shift their search to the condo market.  This week, said GOODBYE to 25 condos and HELLO to only 24.  To all of the condo shoppers out there, this is THE YEAR OF THE CONDO!  If you want to buy a condo at a reasonable price, do it now.

LOTS–As building continues, (remember homes that you see around the Island under construction were sold approximately 3-6 months ago due to our permitting process and maybe even a slight delay due to our friends the BURROWING OWLS and it being mating season… again).  It may seem that there is a lot of building going on though, because there is!  However, even though we had 11 new lots hit the market and 8 leave, it can be challenging to find the right lot to build your dream home.  If you are looking for a lot with a VIEW, plan on spending at least 500K!  Yep, that’s 500,000 USD for an 80 x 110 lot.  Remember, inland lots are great investments and start around 90K.  It is a wonderful way for a real estate investor to get started with minimal costs (taxes and lot mowing).

IN OTHER MARCO ISLAND NEWS—TripAdvisor ranked Marco Island as #1 Island in the US and #4 best Island in the WORLD!  Who would have figured?  Well, we would have of course because we know how just how amazing this little 4 x 6 mile Island is!  ALSO, a very big welcome to The Speaker of the House JOHN BOEHNER who recently closed on his Cape Marco condo!  The GOP is gaining a strong presence here on our little Island Paradise!

Remember, we always have time for you!  All of our clients matter to us.  Call or e mail us at any time and we are more than happy to help with any and all Marco Island / Naples, FL real estate needs!

Wishing You Massive Success,

Emily and Todd

Welcome to our WEEKLY MARKET UPDATE to keep you better informed of the Marco Island market!
Below are the statistics from Marco Island MLS as of last week from 2-10-14 to 2-17-14.

Single Family Homes
20 New Listings ranging from 385,000-2,999,000
6 Pending Listings ranging from 329,900-2,995,000
7 Closed Sales ranging from 315,000-1,360,000

Condos
18 New Listings ranging from 75,000-2,495,000
16 Pending Listings ranging from 129,000-2,000,000
13 Closed Sales ranging from 70,500-1,102,500

Lots
7 New Listings ranging from 129,500-1,450,000
2 Pending Listings ranging from 220,00-349,000
4 Closed Sales ranging from 89,000-540,000

Summary:
SINGLE FAMILY HOME inventory continues to dwindle, although the new listings this week did trump the pending and sold inventory. As buyers watch the market, the prices continue to rise. Since we are a seasonal market, this time of year we do have an influx of inventory which is greatly needed. If you are looking at a possible SFH purchase, now is the time since we are selling them almost as soon as they get listed.

CONDOS are the “hot topic” this year as the single family home inventory continues to decrease. As you can see from last week, more condos sold or went pending than new inventory to hit the market. Since many buyers are getting priced out of single family homes, condos become the next best alternative. If you are looking for a condo, my advise is to act fast!

LOTS have been a constant discussion in our office. From 2010-2013 building a house was just slightly more expensive (10{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} +/-) than purchasing existing homes. This changed the focus of may buyers in the market at that time to switch gears and move into building. This then depleted our lot inventory. With the rise of goods, (fuel, concrete) rose the price of building. Again we have seen another shift in focus of may prospective buyers to consider existing homes as an alternative again. It is now less expensive to buy existing due to not only the cost of building but the challenge of finding a lot, especially one with a view which starts around the 600K+. If you are in the market for a lot, it can be challenging to find one that fits all of your criteria within your budget.

Quick Tip of the Week–If you are looking for a Marco Island / Naples property and find something that works, don’t wait to see what will happen with the price. Most of the time well priced properties will sell or will increase their price due to our market and inventory (or lack thereof).

Short Sale and Foreclosure Update–Many of the short sales and foreclosures have slowly left our market place although a few still remain. Banks are holding firmer to their prices. Short sales and foreclosures are not always the best deal and many are yielding multiple offers, driving up the price. Some are even selling over list price by thousands of dollars. Email or call us if you would like a current list of Marco Island / Naples short sales and foreclosures.

REMEMBER–We ALWAYS have time to take a call, return a call or e mail. Never hesitate to contact us if you would like any real estate
information. All of our clients are important to us! Have a great week everyone!

Wishing you MASSIVE success,

Emily and Todd