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. According to Bette McGilvray, President, total dollars volume sold of the Marco Island real estate market increased 12.98% 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, according to Bette McGilvray, 2014 President, Marco Island Area Association of Realtors®.
- 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%. Pending’s of single family properties for the first half comparison increased significantly by 38.81%. Single family homes closed since January show an increase of 14.22% 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% of sales were above and 50% of sales were below) for closed single family homes was down a slight 1.59% ($774,746 vs. $762,405) while the median sale price was up 7.32% ($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% 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%. The number of pending’s in the condo category increased by 31.42% in the same comparison.
- Th number of closed sales of condos in the comparison is up 10.28%. The average sale price was up 6.87% ($512,964 in 2014 vs. $479,964 in 2013) and median sales price was also up 11.24% ($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%.
- Lot Activity: The number of new lots listed in the first half of 2014 increased by 19.23% from the first half of 2013. The number of lots pending decreased by 13.92%. The number of closed sale lots decreased by 17.27%. The average sale price for lots increased 17.84% ($446,475 in 2014 vs. $378,881 in 2013). The median sale price increased 3.65% ($255,000 in 2014 vs. $246,000 in 2013).
- Total dollar volume of lots sold decreased a slight 2.51% ($40,629,200 in 2014 vs. $41,676,927 in 2013).
For all properties, the average sale price was up 6.44% ($599,590 in 2014 vs. $563,299 in 2013) and median sale price was up 19.36% ($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 a local Realtor® professional if you have any questions.
Bette McGilvray is President for the Marco Island Area Association of Realtors®. Call 394-5616.