MARCO ISLAND REAL ESTATE MARKET REPORT FEBRUARY 2016

MARCO ISLAND REAL ESTATE MARKET REPORT FEBRUARY 2016

Real Estate market has seen numerous price reductions over the past couple of months.   The main reason for this was overpricing property for the current market conditions in anticipation of major price increases.  We have had two years of stable pricing increases.   Prices remain stable with price adjustments showing up in properties that were simply listed at an inflated asking price when put on the market.

 Vacant lots have taken the largest decline in pending sales as well as closed sales.

Below is the statistical information for February 2016:

                                2016       2015

Pending Listings:
   Single Family          41      64
   Lots                          4       27
   Condo                     54      85


Average Closed Sales Price:
   Single Family        $901,170     $828,137
   Lots                       $571,111     $554,500
   Condo                   $507,471     $528,803

Number of units sold:
   Single Family        28      38
   Lots                         9      19
   Condo                    33     57

For a full list of property for sale on Marco Island, Please visit my website at www.RealEstateonMarco.com or call me at 239-404-7471.