What is really happening in Marco Island Real Estate?

The real estate market on Marco Island had begun to stabalize and we are seeing some positive changes.  With that being said here are some statistics:

NEW LISTINGS ON THE MARKET FOR FEBRUARY 2010:

   Single family homes new on the market are down 7% from January 2010
   Condominiums new on the market are down 22% from January 2010

PENDING SALES FOR FEBRUARY 2010:

   Single family homes under contract are up 82% from January 2010 and up 27% from February 2009
   Condominiums under contract are down 8% from January 2010 and up 20% from February 2010.

CLOSED SALES FOR FEBRUARY 2010:

   Single family homes are down 8% from January 2010 and down 6% from February 2009
   Condominiums are up 10% from January 2010 and up 55% from February 2009

If our inventory levels continue to decline it will make a shift on the supply and demand on Marco Island.  The less supply we have the greater the demand.