Marco Island Real Estate

Marco Island Real Estate: June 2017

Marco Island Real Estate

MARCO ISLAND REAL ESTATE MARKET REPORT

Marco Island Closed Sales: June 2017
• During the 12 months ending June 30, 2017, the Marco Island area had 745 closings, down 12% from the same period
last year when there were 849 closings.
• The number of closed sales year-to-date decreased 21% over prior year to 372 vs. 470 through June 2016.

Marco Island New Listings/Inventory: June 2017
• Available inventory on July 1, 2017 consisted of 681 units, down from 723 last month.
• During the 12 months ending June 30, 2017, a total of 1,408 new listings were added to the Marco Island market.
This represents a 5% reduction from the same period last year when 1,482 new listings were added.

Marco Island Average and Median Sales Price: June 2017
• Average price of closed sales during the month of June was down 11% year-over-year, while the median price was consistent
with the same period in 2016.
• The 12-month average closed price rose 5% over the prior 12 months, from $723,453 to $759,593.

The Marco Island statistics are obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco.

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THIRD QUARTER MARKET REVIEW FOR 2015
For Marco Island

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• The number of residential properties listed during the third quarter posted a 7% increase, with condominiums increasing for the first
time since 2012 for this period.

• The number of condominium closings during Q3 2015 increased 8% year-over-year, while single family home closings declined 19%.
Inventory is typically at its lowest levels during third quarter which likely accounts for the significant decline in the number of
single family homes changing hands.
• The combined average sale price for single-family and multi-family residences closed during the quarter increased 26.7% over the same
period 2014. This follows a 6% decline in the average price Q3 2013 to Q3 2014.
• Demand for Marco Island properties is expected to remain strong throughout the coming season. Overall, supply appears to be in
balance with demand, although some segments may be experiencing shortages of product.

This report does not take into account residential lot sales, which are a significant factor in the Marco Island market. It is intended to give
the reader a broad, general view of the residential market as a whole and its performance for the third quarter over time. Buyers and sellers
should request current market data for properties in which there is specific interest.