Back HomeActive inventory has decreased and pending statistics for single family homes, condos and lots are way up in the July 2014 to July 2013 comparison.
• The number of new single family homes actively listed on the market in July 2014 v. July 2013 decreased by 10.00% (45 v. 50). The total number of single family properties active on the market decreased by 16.52% (283 v. 339). The average sale prices increased by 4.81% ($845,438 v. $806,622) while the median sale price for closed single family homes increased by a whopping 69.52% ($881,500 v. $520,000). Total sold dollar volume for single family homes decreased from $30,651,630 in July 2013 to $23,672,274 in July 2014, a 22.77% decrease.
• In regard to condo activity, the number of new listed condominiums this July v. last July decreased by 27.91% (31 v.43) and total number of condos on the market from last year decreased by a considerable 26.71% (310 v. 423). The average sale price for condos was down 26.14% ($410,178 vs. $555,344), while the median sale price for condos was down 8.01% ($327,500 v. $356,000). Total sold dollar volume for mutli-family decreased 38.45% from $26,656,511 in July 2013 to $16,407,100 in July 2014.
• The number of newly listed Lots this July 2014 v. July 2013 (20) was unchanged. The total number of lots active on the market is up though to 21.16% (292 v. 241) from last year. Their average sale price was up 36.27% ($360,300 v. $264,409) while median sale price was up considerably 81.77% ($359,000 v. $197,500).
(Average sale price is total sales in dollars divided by the number of sales and median sale price means 50% of sales were above and 50% of sales were below.)
• The number of pending sales for all property types was up 62.26%. Single family homes were up 59.52% (67 v. 42); Lots were up 35.71% (19 v. 14); and multi-family & condos were up 59.57% (75 v. 47).
• The number of single family homes closed is down 26.32% (28 v.38) in the July-to-July comparison while number of lots closed was down 9.09% (10 v. 11) in the same comparison. The number of condos closed in the comparison is down 16.67% (40 v. 48).
• For all property types, average sale price was down 12.35% ($561,359 v. $640,476) while median sale price was up 10.07% ($410,000 v. 372,500).
The value of Marco Island property continues to be on the “up-swing”. This is wonderful for Sellers of property on Marco but also a great reason for a Buyer to purchase a piece of our
# 1 rated Island paradise.
