Multiple Listing Service statistics released by the Marco Island Area Association of Realtors for Marco Island-only properties comparing November 2015 to a year ago show inventory decreased 10.02 percent for all property types while at the same time the median sale price for all property types jumped 18.87 percent.
• The number of new single-family listings that came on the market in November 2015 v. November 2014 increased 68 percent (84 v. 50). The total number of single-family properties active on the market in the year-to-year comparison remained virtually unchanged at 1.03 percent (293 v. 290). The median sale price for closed single-family homes increased 31.85 percent ($890,000 v. $675,000). Total sold dollar volume for single-family homes increased to $15,606,200 from $12,645,250 in November 2014, a 23.42 percent increase.
Median sale price means 50 percent of sales were above and 50 percent of sales were below.
• The number of new condo listings that came on the market in November v. a year ago increased 8.97 percent (85 v.78). Total number of condos on the market from last year decreased 18.24 percent (269 v. 329). The median sale price for condos increased 39.62 percent ($370,000 v. $265,000). Total sold dollar volume for multi-family increased 20.93 percent from $13,020,100 in November 2014 to $15,744,900 in November 2015.
• The number of new lots coming on the market in November 2015 v. a year ago increased 22.58 percent (38 v. 31). Total number of lots active on the market decreased 7.45 percent (298 v. 322) from last year. Median sale price decreased 4.63 percent ($324,500 v. $340,250). Total sold dollar volume increased 257.81 percent ($4,224,000 v. $1,180,500).
• Number of pendings for all property types is down 26.61 percent. Single-family pendings in the comparison down 51.22 percent (20 v. 41); lots up 14.29 percent (16 v. 14), and multi-family down 20.90 percent (53 v. 67).
• Number of condos closed in the comparison decreased 3.23 percent (30 v. 31). Number of single-family homes closed decreased 10.53 percent (17 v.19) in the November-to-November comparison while number of lots closed increased 150 percent (10 v. 4) in the same comparison.
As always, please contact a local Realtor professional if you have any questions.
Reach Susan Ackerson at 394-5616.