Feb. 2015 property sales outstrip same month in 2014.
A 37 percent increase in volume, comparing Marco property sales in Feb. 2014 to the same month this year has been recorded, according to MLS statistics. The actual percentage was 36.50, and the dollar values were $72,280,450 compared to $52,837,265.
• The number of new single family listings that came on the market in Feb. 2015 vs. Feb. 2014 decreased 15.58 percent (65 v. 77). The total number of single family properties active on the market decreased 23.22 percent (324 v. 422). The average sale price decreased slightly by 5.61 percent ($828,137 v. $877,369) while the median sale price for closed single family homes decreased by 6.15 percent ($675,000 v. $719,250). Total sold dollar volume for single family homes jumped from $22,811,600 in Feb. 2014 to $31,469,200 in Feb. 2015, a 37.95 percent increase.
• In regard to condo activity, number of new listings that came on the market this Feb. v. last Feb. increased 18.99 percent (94 v.79), but total number of condos on the market from last year decreased by 20.49 percent (326 v. 410). The average sale price for condos was down slightly by 0.42 percent ($528,803 vs. $531,047), while the median sale price for condos was up by 21.79 percent ($427,500 v. $351,000). Total sold dollar volume for mutli-family increased 23.39 percent from $24,428,165 in Feb. 2014 to $30,141,750 in Feb. 2015.
• Number of new lots coming on the market in Feb. 2015 v. Feb. 2014 increased 19.23 percent (31 v. 26). Total number of lots active on the market increased 17.86 percent (330 v. 280) from last year. Average sale price was up 26.28 percent ($554,500 v. $439,091) while median sale price was up a whopping 81.27 percent ($455,000 v. $251,000). Total sold dollar volume increased over 100 percent for an 118.13 percent increase ($10,535,500 v. $4,830,000).
(Average sale price is total sales in dollars divided by the number of sales and median sale price means 50 percent of sales were above and 50 percent of sales were below.)
• Number of pendings for all property types is up 1.14 percent. Single family pendings in the comparison are up 1.59 percent (64 v. 63); Lots up 3.85 percent (27 v. 26); and multi-family up 1.19 percent (85 v. 84).
• Number of condos closed in the comparison is up 23.91 percent (57 v. 46). Number of single family homes closed is up considerably 46.15 percent (38 v.26) in the Feb.-to-Feb. comparison while number of lots closed jumped up 72.73 percent (19 v. 11) in the same comparison.
• For all property types, average sale price was up 3.49 percent ($628,526 v. $607,325) while median sale price was up 23.05 percent ($504,500 v. $410,000).