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.

www.BuaBellSellsNaples.com

 

MARCO ISLAND Real Estate Market Report for January 2017

Closed Sales
• During the 12 months ending January 31, 2017, the Marco Island area had 854 closings, down 11.9% from the same period last year when there were 970 closings.
• The number of closed sales for Marco Island during the month of January declined 18% from January 2016 (50 vs. 61). Sales volume was up 22% over January 2016. It should be noted that since this represents only one month, it is not indicative of a market trend.

New Listings/Inventory
• Available inventory on February 1, 2017 for the Marco Island market consisted of a total of 796 units compared to 755 units last month and 712 on February 1, 2016.
• Months of supply on Marco increased to 11 months, up from 8.8 in 2016.

Average and Median Sales Price
• Average price of closed sales in January rose a modest 2.6% over January 2016, while the median price was up 5.2% from the same period last year.

*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.

NAPLES, BONITA SPRINGS/ESTERO REAL ESTATE MARKET REPORT

Closed Sales
• During the 12 months ending August 31, 2016, the Naples/Bonita Springs and Estero market had a total of 11,713
closings, 12% lower than the prior 12-month period when there were 13,280. (Ex 1a)
• Year-to-date closed sales for Naples/Bonita Springs and Estero were 8,068 at an average price of $529,228 vs 9,448 at an
average price of $529,539 YTD 2015. This represents a 15% sales pace reduction from last year, with pricing stable.
• Closed sales priced above $2 million year-to-date fell 23% for the Naples/Bonita Springs and Estero market, when
compared to the same period in 2015. During the past 12 months, sales in this price category are down 14% (399 vs 462).

New Listings/Inventory
• Available inventory on September 1, 2016 for the Naples/Bonita Springs and Estero markets consisted of 5,839 units,
down from 5,991 units last month and up from 4,198 units a year ago.
• During the 12 months ending August 31, 2016 there were a total of 19,736 new listings added to the Naples/Bonita
Springs and Estero market which is 6% more than the same period ending in 2015. (Ex 1a)

Average and Median Sales Price

• Average price of closed sales in the Naples/Bonita Springs and Estero market during the month of August was the same
year-over-year, while median closed price is up 6.7%.
• Average price of sales above $2 million has remained approximately the same over the past 12 months, decreasing less
than 2% to $3,793,159.

 

MARCO ISLAND REAL ESTATE MARKET REPORT
Closed Sales
• During the 12 months ending August 31, 2016, the Marco Island area had 850 closings, down 13.4% from the same
period last year when there were 982 closings. (Ex 1b)
• Year-to-date closed sales for Marco Island total 599, at an average price of $699,269, vs 805 closed sales YTD 2015 at an
average price of $707,234. This represents a reduction in sales volume of 25% and relatively stable pricing year-over-year.

New Listings/Inventory
• Available inventory on September 1, 2016 for the Marco Island market consisted of a total of 641 units, compared to 617
units last month.
• During the 12 months ending August 31, 2016 there were a total of 1,504 new listings added to the Marco Island market.
This represents a 9.6% increase over the same period last year when there were 1,372 new listings added. (Ex 1b)

Average and Median Sales Price
• Average price of closed sales in the Marco Island market during the month of August rose a modest 1.1% year over year,
while the median pricing was up 4.82% from the same period last year.

*The new Marco Island statistics have been 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.

Marco Island Real Estate

Located just a short drive south of Naples is the pristine, but casually elegant Marco Island. As the largest and only developed land in Florida’s Ten Thousand Islands, Marco Island is 24 square miles and boasts an easy-paced lifestyle with several luxury resorts, beautiful shell-filled beaches, championship golf, and unspoiled wildlife.

Marco was originally home to the Calusa Indians, who paddled their canoes throughout the nearby waterfront areas. In the 1500’s, Spanish conquistadors arrived and named it “San Marco Island.” In 1879, W.T. Collier was credited with the founding of Marco Island and, by the early 1920s, Barron Gift Collier purchased over one million acres of Southwest Florida real estate, including 90% of the Island. However, most of the development didn’t occur until the Mackle Brothers arrived on the scene. In the 60’s, 70’s, and 80’s, they dredged and built thousands of lots, turning it into a modern day paradise with over 100 miles of waterways and six miles of beaches.

Today, residents and visitors enjoy many of the Island’s attractions and activities including boating, fishing, biking, and exploring the nearby Everglades National Park. Local restaurants serve up the best in fresh seafood and island fare. Shopping is also an experience, especially at The Esplanade Shoppes, which offer nearly 50,000 square feet of retail stores and dining, all overlooking the boat docks filled with large yachts on Smokehouse Bay.

If you’re looking to make Marco Island your winter or year-round home, you’ll find residential options that include beach and golf course condominiums, and homes with amenities that cater to the island lifestyle. The majority of single-family homes are waterfront, with a boat dock at the back door. Most of the condominiums are also waterfront, with spectacular sunsets and Gulf vistas as their main selling point.

Whether your lifestyle suggests effortless beachfront living, spending time on the golf course, or appreciating natural beauty and wildlife, Marco Island is a Southwest Florida gem among gems!

Marco Island Real Estate

Marco Island Real Estate Market Report

MARCO ISLAND REAL ESTATE MARKET HIGHLIGHTS:

• The 12.9% increase in annual pending sales was driven by an exceptionally active fourth quarter, following moderate sales in the first three quarters.
• Average closed sales price was down over prior year at the end of the third quarter. However, by year end, it had rebounded to reflect a 3.6% increase overall for the year.
• Available inventory on Marco Island stands at approximately eight months of supply based on closings in the past 12 months.
• Decreasing inventory in entry level product could drive prices higher in 2015.
The Bua Bell Group