Single family home inventory declined 14 percent in January compared to last year at the same time. Condo inventory was down 21% and lots were down 20%.
New construction has taken a turn and according to the city's planning and zoning department, home builders pulled 74 permits for new construction and 28 permits for demolitions last year. That is more than double the permitting activity for both in 2011.
Wednesday, April 24, 2013
Marco island Real Estate Sales Statistics - March 2013
Marco Island Real Estate Sales Statistics - March 2013
Year 2013 vs 2012
Active Listings
Year 2013 vs 2012
Active Listings
- Single Family 366 383
- Condominium 522 639
- Lots 271 328
- Single Family 65 65
- Condominium 83 75
- Lots 30 24
- Single Family 38 41
- Condominium 40 54
- Lots 14 20
- Single Family $797,614 $697,924
- Condominium $413,056 $535,389
- Lots $566,839 $269,025
Monday, March 25, 2013
Florida Assist Program
The Florida Assist program offers lower income borrowers up to $7,500 to assist with the down payment and closing costs. This is a deferred second mortgage with no payments and 0% interest that is repaid when the borrower sells or refinances the home or at the end of the term of their first mortgage.
Thursday, March 21, 2013
Home Sales and Prices Continue to Rise According to NAR
Existing-Home Sales and Prices Continue to Rise in February
WASHINGTON (March 21, 2013) - February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of Realtors®. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January, and are 10.2 percent above the 4.52 million-unit level seen in February 2012. February sales were at the highest level since the tax credit period of November 2009.
Distressed homes4 - foreclosures and short sales - accounted for 25 percent of February sales, up from 23 percent in January but down from 34 percent in February 2012. Fifteen percent of February sales were foreclosures, and 10 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in February, while short sales were discounted 15 percent.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.53 percent in February from 3.41 percent in January; it was 3.89 percent in February 2012.
# # #
NOTE: For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.
1 Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.
Existing-home sales, based on closings, differ from the U.S. Census Bureau's series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90 percent of total home sales, are based on a much larger data sample - about 40 percent of multiple listing service data each month - and typically are not subject to large prior-month revisions.
The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.
Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.
4 Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR's Realtors® Confidence Index, posted at Realtor.org.
The Pending Home Sales Index for February will be released March 27, and existing-home sales for March is scheduled for April 22; release times are 10:00 a.m. EDT.
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January, and are 10.2 percent above the 4.52 million-unit level seen in February 2012. February sales were at the highest level since the tax credit period of November 2009.
Distressed homes4 - foreclosures and short sales - accounted for 25 percent of February sales, up from 23 percent in January but down from 34 percent in February 2012. Fifteen percent of February sales were foreclosures, and 10 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in February, while short sales were discounted 15 percent.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.53 percent in February from 3.41 percent in January; it was 3.89 percent in February 2012.
# # #
NOTE: For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.
1 Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.
Existing-home sales, based on closings, differ from the U.S. Census Bureau's series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90 percent of total home sales, are based on a much larger data sample - about 40 percent of multiple listing service data each month - and typically are not subject to large prior-month revisions.
The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.
Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.
4 Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR's Realtors® Confidence Index, posted at Realtor.org.
The Pending Home Sales Index for February will be released March 27, and existing-home sales for March is scheduled for April 22; release times are 10:00 a.m. EDT.
Marco island Real Estate Sales Statistics - February 2013
Marco Island Real Estate Sales Statistics - February 2013
Year 2013 vs 2012
Active Listings
Year 2013 vs 2012
Active Listings
- Single Family 370 389
- Condominium 544 661
- Lots 276 336
- Single Family 30 47
- Condominium 54 67
- Lots 13 20
- Single Family 39 24
- Condominium 32 30
- Lots 22 16
- Single Family $667,717 $747,354
- Condominium $509,431 $397,867
- Lots $236,883 $347,563
Marco Island Real Estate Sales Statistics January 2013
Marco Island Real Estate Sales Statistics - January 2013
Year 2013 vs 2012
Active Listings
Year 2013 vs 2012
Active Listings
- Single Family 342 389
- Condominium 530 666
- Lots 278 347
- Single Family 46 47
- Condominium 70 59
- Lots 15 12
- Single Family 21 22
- Condominium 35 31
- Lots 5 16
- Single Family $704,190 $880,901
- Condominium $442,300 $341,024
- Lots $374,600 $282,165
Wednesday, January 23, 2013
Weekly Economic summary from Bank of America
Last week, there
were more signs that the housing sector continues to improve. Read on for
details.
Table Source:
Mortgage Success Source
Housing starts surged by 12.1% in December to 954,000 units on an annualized basis. This was above expectations and the highest level since June 2008. Building permits, a sign of future construction, also increased, coming in slightly higher than the November reading.
For more information on the real estate market on Marco Island, please call me at 239-404-7471 or visit my website for a complete guide to available property.
Table Source:
Mortgage Success SourceHousing starts surged by 12.1% in December to 954,000 units on an annualized basis. This was above expectations and the highest level since June 2008. Building permits, a sign of future construction, also increased, coming in slightly higher than the November reading.
In addition, research firm CoreLogic reported
that home prices rose by 7.4% in the calendar year that ended in November. This
figure, which includes the sales of distressed properties, was the largest
year-over-year increase since 2006 and it has been positive for nine straight
months.
What’s the
takeaway? Goldman
Sachs has reported that the fundamentals are pointing towards larger gains for
housing prices in the next couple of years. And with home loan rates remaining
near record lows, great opportunities are available.
As always, one thing
that’s important to monitor is inflation. Since inflation reduces the
value of fixed investments, inflation has negative effects on bonds, and, therefore,
on home loan rates, which are tied to mortgage bonds.However, last week’s
wholesale-measuring Producer Price Index and the Consumer Price Index showed
that inflation remains tame, meaning inflation is not a factor at this time.
It continues to be a great time to consider a
home purchase or refinance, as home loan rates remain near historic lows.
For more information on the real estate market on Marco Island, please call me at 239-404-7471 or visit my website for a complete guide to available property.
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