Author Archives: Tony

MARCO ISLAND SALES REPORT

WELCOME TO SUNNY MARCO ISLAND AND THE LOCAL SALES REPORT OF REAL ESTATE SALES ON MARCO ISLAND.  PLEASE CALL US WITH ANY QUESTIONS. PH# 239-821-0994. 

MARCO ISLAND SALES

3 Year Comparison

AUGUST 2021 

 

The “new normal” are the buzz words for the past year & a half.  What does that mean to Marco Island real estate?  The new normal means low inventory, an increasing median sell price, fewer days on the market and an increase in total dollar volume sold compared to the previous year.  Just glance at the last 3 months for homes, condos & lots.  In June, July & August the inventory was down 74%, 70% and 69%, respectively.  The median sales price rose in all 3 segments of the market.  The number of days declined in all 3 areas of the market.

The average days on the market is declining faster than the inventory for single family homes.  The average days on the market the last 3 months are 32, 38 & 37 days respectively.  The percentage decrease is 78%, 82% and 77%.  Talk about a Seller’s market!

According to the Dr Lawrence Yun, NAR Chief Economist,” Price growth in the next year will be 5% nationally.  Buyers who missed the opportunity to purchase will get a second chance.”  He expects resort areas such as Marco to increase at a higher rate but did not give a specific percentage.

 

The statistics for August confirm the “new normal.”   Total inventory in August of 2021 was down 69% from August 2020. Total active properties this August was 226 as compared to 727 last year. There were 84 single family homes on the market, 77 condos and 65 lots. The total number of closed sales was down 20% from 124 to 99. Total dollar volume was $96M, up 14% from August 2020.

 

Broken down by category, 38 homes closed this August – down 31% from 55 homes sold last year. The median sale price was $1.25M, up by 56%. Average days on market for homes was down 77% from 163 to 37.

43 condos sold this August, down 10% from last year. The median sale price was up 64%. Average days on market for a condo went from 153 to 21 for an 86% decrease.

We had 18 lots closing this August, down 14% from last year’s 21. The total sold dollar volume for lots was up 32% from last year. The median sale price for a lot this August was up 92% from last year’s $300K. Average days on market for lots was down 88%.

BONUS STATS:

Comparing August 2021 to July 2021

Total inventory was down 7% from 243 in July to 226 in August.

Number of homes sold was down 39% from 97 in July to 84 in August.

Days on market for condos dropped 78% from 87 to 21.

DOM for lots was down 65% from 134 to 21.

The above writing and data courtesy of Marco Island Area Association of Realtors® Multiple Listing Service (MLS) for the period August 2020 and August 2021. For the purpose of this report, the following property types are measured: single family homes (RE1), condos (RE2), and lots. Decimals rounded to the nearest whole number.

THREE YEAR COMPARISON BELOW
Monthly 2021 Marco Island
Marco Island YTD

TRAVEL TO MARCO ISLAND FLORIDA

PEOPLE ARE TRAVELING TO MARCO ISLAND TO GET AWAY, AND ONCE HERE THEY REALIZE THE OPPORTUNITY TO OWN A PIECE OF PARADISE IS INTOXICATING.   CALL THE WALTER TEAM TODAY AND LET US HELP YOU FIND YOUR OWN PIECE OF PARADISE.  PH# 239-821-0994 

10 PLAYED OUT HOME TRENDS THAT BUYERS ARE OVER

10 PLAYED OUT HOME TRENDS THAT BUYERS ARE OVER
1.  Open-Concept Layout

2. Modern Farmhouse

Despite the continued popularity of Chip and Joanna Gaines and their TV show Fixer Upper, the updated twists on traditional farmhouses are likely on their way out, according to at least three agents interviewed for this story.

3. White-on-White Kitchens

Years and years of Bright White Instagram home photos are starting to fade. “An all white kitchen surely looks neat and clean, but we’ve seen too much of it,” says David Cusick, chief strategy officer at House Method. “Buyers are looking for something refreshing. Instead of pure white, you can paint the kitchen island or cabinets with a shade of gray or other colors that will give an accent.”

4. Glass Block Bathroom Walls

Glass block bathroom walls have long been a way brighten dark bathrooms and add natural light without giving up privacy. But, Cusick says, it turns out many buyers don’t like them. His suggestion? “Use sky light lighting instead, and choose LED lights for energy savings.”

5. Classic Tile Patterns

Typical tile patterns, sizes and designs are fading fast.  Consider choosing a not-so-common size and do not be afraid of selecting a tile with some color or definite pattern.

6. Granite

The upsides to quartz? Besides the fresh aesthetic, it’s harder and more durable than granite, doesn’t need re-sealing and the selections are more uniform.

7. Taking Out the Tub

It’s important to buyers to have a tub somewhere in the house, so don’t eliminate all your bathtubs. It can be a deal–breaker for buyers if they need to add one back in.

8. Gray

Gray interiors no longer stand out against the crowd.

9. Silver Fixture Finishes

Stick with black or chrome for an eye-catching look.

10. Hardwood Floors

If you’ve replaced your floors recently and installed hardwood, don’t panic. Buyers are not necessarily moving back toward loving wall-to-wall carpet. But buyers are not hardcore about having the real thing. Luxury vinyl and laminate flooring options made to look like real hardwood can easily do the trick if hardwood flooring is out of your budget.