MLS statistics have been released by the Marco Island Area Association of Realtors® (MIAAOR) for Marco Island-only properties comparing January – July of 2016 to January – July of 2015. According to Dick Shanahan, President, total sold volume dollars for all property types was $415,338,824 for the period January – July 2016 v. $533,789,590 for the same time frame in 2015.
The number of new listings for all property types that came on the market in the January – July comparison 2016 to 2015 increased 5.31% (1,170 v. 1,111). New single family listings coming on the market in the January – July comparison of 2016 vs. 2015 increased 4.26% (416 v. 399). The number of new lots coming on the market in the comparison increased 4.76% (220 v. 210). The number of new condo listings coming on the market increased 6.60% (500 v. 469).
The average days on market for all property types is down 14.82% in the January – July 2016 to 2015 comparison. Total average days on market for single family properties is down 1.93%; for lots down 12.47% and for condos down 20.77%.
In the seven-month year-to-year comparison, median sell price was up 7.36% from $475,000 to $510,000 for all property types, said Dick Shanahan, president. Median sell price for single family homes was down 1.55% from $721,250 to $710,000. Median sell price for lots was up 13.07% from $325,000 to $367,500 while median sell price for condos increased 1.81% from $412,500 to $420,000. (Median sale price means 50% of sales were above and 50% of sales were below.)
Total number of closed for all property types was down in the January – July 2016 v. the January – July 2015 comparison (625 v. 796). Single family closed was down from 272 to 223; lots were down 117 to 65 and condos were down 401 v. 322.
It is always a time to buy on beautiful Marco Island.
As always, please contact a local Realtor® professional if you have any questions.
Dick Shanahan is president of the Marco Island Area Association of Realtors®. Call 239- 394-5616.