Category Archives: Market News

Marco Island Florida Real Estate Report – May 2019

Marco Island Real Estate Report – May 2019

Inventory up 4% from Last Year

The inventory of homes, lots and condos for sale on Marco Island totaled one-thousand fifty-one (1,051), up 4% from a year ago. A total of one-hundred twenty-one (121) properties sold in May, which was an increase of 2% from May last year. Total dollar volume sold was $79.7 million, which was down 13% from May a year ago. One-hundred ten (110) new listings came on the market in May, down 21% from last year.

May 2019 statistics

Homes

There were three-hundred five (305) active home listings in May, which was up 5% from May 2018. Fifty-seven (57) homes sold for $52.1 million compared to fifty-two (52) and $54.5 million last May. Sales prices ranged from $335,000 to $2.7 million. Median price of a home sold on Marco Island in May was $780,000. Thirty-seven (37) new listings came on the market in May compared to forty-two (42) last year, which is an decrease of 12%. List prices for a home on Marco Island range from $369,900 to $7.5 million.

Condos

Inventory for sale was four-hundred nine (409) condos in May 2019, up 5% from last year. Forty-six (46) condos sold for $20.6 million compared to fifty-two (52) units and $30.1 million last May. Sales prices ranged from $112,500 to $1.35 million. Median price of a condo sold on Marco Island in May was $407,500. Fifty-one (51) new listings came on the market compared to sixty-eight (68) last year, which was a decrease of 25%. List prices for a condo on the island range from $119,900 to $9.9 million.

Lots

There were three-hundred fifteen (315) lots for sale on Marco Island in May 2019, compared to three-hundred five (305) last year. Fifteen (15) lots sold for $5.9 million compared to fourteen (14) and $7.3 million last year. Sales prices ranged from $104,000 to $850,000. Median price of a lot sold on Marco Island in May was $422,500. Eighteen (18) new listings came on the market which was down 36% from last year. List prices for a lot range from $45,900 to $6.75 million.

As usual there is a wide range of properties for sale on Marco Island. Please call the Walter Team today to help you find that just right property. Ph# 239-821-0994

MARCO ISLAND REAL ESTATE INVENTORY

A LOOK AT THE MARCO ISLAND REAL ESTATE INVENTORY 

 

The inventory of homes, lots and condos for sale on Marco Island totaled 1,156, up 10 percent from a year ago. A total of 58 properties sold in February, which declined 18 percent from February last year. Total dollar volume sold was $52.1 million, which was up seven from February a year ago. One-hundred eighty-seven new listings came on the market in February, up 13 percent from last year.

 

Homes

There were 366 active home listings in February, which was up eight percent from February 2018. Twenty-six homes sold for $33.2 million compared to 31 and $25.8 million last February. Sales prices ranged from $325,000 to $5 million.

Median price of a home sold on Marco Island in February was $989,750. Seventy-two new listings came on the market in February compared to 63 last year, which is an increase of 14 percent. List prices for a home on Marco Island range from $299,900 to $7.5 million.

Condos

Inventory for sale was 435 condos in February 2019, up 16 percent from last year. Twenty-eight condos sold for $18.3 million compared to 32 units and $19.1 million last February. Sales prices ranged from $107,500 to $2.5 million.

Median price of a condo sold on Marco Island in February was $562,500. Eighty new listings came on the market compared to seventy-four (74) last year, which was an increase of eight. List prices for a condo on the island range from $102,000 to $9.9 million.

Lots

There were 336 lots for sale on Marco Island in February 2019, compared to 306 last year. Three lots sold for $404,000 compared to seven and $3.7 million last year. Sales prices ranged from $85,000 to $180,000.

Median price of a lot sold on Marco Island in February was $139,000. Thirty-three new listings came on the market which was up 32 percent from last year. List prices for a lot range from $40,000 to $5 million.

As usual there is a wide range of properties for sale on Marco Island. Call the Walter Team today to help you find that just right property.  Ph# 239-821-0994

MARCO ISLAND FLORIDA IS PARADISE

The largest of the Ten Thousand Islands, Marco Island is located just south of Naples and easily accessible with two bridges allowing vehicle traffic on and off the island. 

The island is home to some of the world’s most beautiful beaches and offers access to both the Gulf of Mexico and the mangrove-lined estuaries of the Ten Thousand Islands. More than just another pretty beach, Marco Island’s mood shifts from sophisticated resort area to historic nautical community and funky fishing village. Boating is a way of life for Marco Island residents and visitors, with many year-round and vacation homes located on the water. Bring your appetite for seafood, whether you plan to catch it on your own or at a local restaurant. For hidden gems, seek out the picturesque waterfront restaurants in the communities of Goodland and Isles of Capri. Visitors have their choice of beachfront resort hotels, several inland hotels, and many vacation rental properties and time share resorts.  But for the lucky few Marco Residents who own a piece of the picturesque paradise they call this their home.  Call the Walter Team today so you can own a piece of Paradise.  239-821-0994

MARCO ISLAND FLORIDA

On the southern most-tip of Florida’s West Coast, overlooking the Gulf of Mexico, sits the majestic and pristine sub-tropical Marco Island.

Gateway to the awesome land of Ten Thousand Islands, Marco Island is about 4 miles wide, 6 miles long, and a mere 90 miles west of Miami and 157 miles south of Tampa.

History informs us that probably around 4000 BC the Calusa Indians, who may have been the descendants of the Mayans, inhabited the island. These Native People had built large mounds using millions of shells that offered them protection from hurricanes. The mounds were also used for religious temples and burial sites.

The Calusa were crafty and intelligent woodworkers, who constructed canoes, beams and planks for their houses, docks and piers. Due to disease brought to the island by the Spanish explorers, the Calusa were wiped out by the mid 1700s, later replaced by the Seminole. Until after the Civil War, there was little population occupying southwest Florida.

In 1870, W.T. Collier brought his wife and nine children to Marco Island. His son, William D. “Captain Bill” Collier, opened a 20-room hotel in 1896 that is today known as Olde Marco Inn. In 1922 Barron G. Collier (no relation to the other Colliers) purchased most of the island.

Unfortunately, the depression took its toll and development of the island was postponed until 1962.

It was at this time, when brothers Elliott, Robert and Frank Jr. Mackell developed a master plan for the island, after purchasing it from the Collier estate for the paltry sum of seven million dollars.

Not surprising, prior to its development in the mid-1960s, the population was a mere 550, as the only way to reach the island was by crossing a narrow, wooden, hand-operated swinging bridge. A trifle frightening!

Marco Island today has a permanent population of 15, 000 swelling to 35, 000 during the winter months.

Western entrance to the Everglades, and only 30 minutes away from world-class shopping, entertainment, fine dining and the cultural scene of affluent Naples, Marco Island offers plush accommodations to the discerning visitor. Additionally Marco Island offers some of the best Real Estate options in the World.  Call the Walter Team today to view this amazing piece of Paradise that you can call home!   239-821-0994

 

MARCO ISLAND FLORIDA 34145

Located a short ride from the Florida Everglades and close to Naples, Marco Island is the largest and only developed land in Florida’s Ten Thousand Islands. This Gulf Coast retreat offers luxury resorts, beautiful beaches and unspoiled parks. The tropical climate of Marco Island is a considerable attraction to the area, with the water being the next major attraction. Collier Seminole State Park, just a few miles from Marco Island, has primitive camping, canoeing, fishing, boating, picnic grounds, and a mile-long nature walk. Narrated boat tours of the park run on a daily basis. Briggs Nature Center features a half-mile boardwalk where Marco Island visitors can observe wildlife in its natural habitat. Also available: shelling excursions and self-guided canoe trips.  CALL THE WALTER TEAM TODAY TO VIEW PROPERTIES ON BEAUTIFUL SUNNY MARCO ISLAND. 239-821-0994

MARCO ISLAND’S BEAUTIFUL CRESCENT BEACH

Crescent beach is a 6 miles long public beach that lines the entire west coast of Marco Island and has 4 public access points which are Tigertail Beach, north property line of the Marriott Hotel and Spa, along south property line of the Marriott Crystal Shores and South Beach which is just south of the Apollo condo.  Only Tigertail and South Beach have public parking available. This link leads to a Google Map showing the access points  http://tinyurl.com/MarcoBeach

Since Crescent Beach is so long different areas of the beach have been given various names.   Starting at the North end and going South is Hideaway Beach, Tigertail Beach, Residents’ Beach, and South Beach.  ( Residents’ Beach access point is restricted to those with a permit but you can walk to  the Resident’s Beach shore line from Tigertail beach or from all points form the south) Likewise,  Hideaway beach is North of Tigertail park and is only accessible by the public by walking the waterline North.   It has no facilities and is lined along the backside by a gated community also named Hideaway Beach. 

Crescent Beach has dolphins, manatees, shore birds and great sunsets!

Restaurants and bars are available from some of the hotels and condos that line the back of the beach.  The Marriott, the Marriott Crystal Shores, and the Apollo have very nice restaurants and bars.   

 Water sporting equipment, waverunners, small sail boats, and the like are available at Tigertail,  the Marriott, and the Hilton.   

Marco Island is the largest island in  the chain of 10,000 Islands, the gateway to the Everglades, and the southernmost beach accessible by car  in SW Florida on the Gulf of Mexico.    CALL THE WALTER TEAM TODAY TO VIEW CONDOS ON MARCO ISLAND’S CRESCENT BEACH!  239-821-0994  

Home shoppers Optimistic but do they expect a recession?

SANTA CLARA, Calif. – April 3, 2019 – Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home, according to new survey data released by realtor.com. Even though they expect another recession, they don’t believe it will be as bad as the 2008 one.

Overall, nearly 30 percent of 1,015 active home shoppers surveyed expect the next recession to begin sometime in 2020; 12 percent expect sometime in 2019; 16 percent expect sometime in 2021; and 12 percent expect 2022.

Nearly 10 percent don’t expect a recession until 2024 or later, and another 21 percent said they didn’t know. The online survey was conducted earlier this month with Toluna Research.

According to the survey, even though 63 percent of shoppers report that home prices are increasing compared to last year, 56 percent of shoppers believe home prices have hit their peak.

The feeling that home prices have topped out could be a reflection of shopper beliefs that a recession is in the not too distant future. In fact, those expecting the recession sooner were more likely to report that home prices had peaked, says Danielle Hale, realtor.com‘s chief economist.

“The U.S. economy has been on a hot streak for the last seven years, producing steady economic growth and low unemployment rates. Historically, this type of growth hasn’t continued indefinitely, and U.S. home shoppers think it will come to an end sooner rather than later,” says Hale.

When asked if the U.S. housing market would fare better or worse than the 2008 economic recession, 41 percent responded with better; 36 expect it would be worse; 23 percent expect it to be the same.

The fact that some home shoppers expect the next recession to be harder on housing than the last recession suggests that they are buying homes with eyes wide-open and very sober, Hale says. This buyer outlook stands in stark contrast to the years leading up to the last recession when “irrational exuberance” about the market’s future was more common. It’s also another reason to expect the next downturn to be very different for housing than the last one.

“When the U.S. enters its next recession, it is unlikely that the housing market will see a sharp nationwide downturn. The same record low inventory levels that have made buying a home so difficult recently will likely protect home prices in the next recession,” Hale adds.

According to the survey, 45 percent of home shoppers feel at least slightly more optimistic about homeownership after the 2008 recession. Less than one in four – 22 percent – feel at least slightly more pessimistic about homeownership, while 33 percent reported no impact on their feelings about homeownership.

The duration of the recovery from the last recession could explain the optimism reported by some buyers. Since 2010, home prices across the U.S. have grown by 49 percent, the U.S. economy has grown by $3 trillion and 18.7 million more jobs have been created. This persistent optimism toward homeownership is likely a key reason that home shoppers are confident and looking to buy, even as they expect a recession to be approaching.

CALL THE WALTER TEAM TODAY TO DISCUSS YOUR HOME SHOPPING IDEAS. 239-821-0994

DO YOU LIKE THE OPEN CONCEPT ?

BOSTON – April 3, 2019 – The open floor plan – a kitchen, living room and dining room often part of one large open space – has been a highly sought after layout among homebuyers for many years now, but homeowners who already live in open-concept homes say they’re starting to miss the walls.

“Buyers are moving away from uninterrupted views,” Loren Larsen, a real estate professional with Compass in Boston, according to what she frequently hears from clients. Owners of great-room homes, she says, no longer want their kitchen, along with all its dirty dishes, on full display.

Life can also be too loud in open concept living, says Bob Ernst, president of FBN Construction. The family togetherness that open concepts bred may ultimately be too much togetherness to some homeowners now. Parents find it difficult to watch adult TV programs if their school-age children are not in their rooms, or to conduct a work call in private.

However, some homeowners may be struggling to voice their dislike of the open concept.

“The message [of open concept living] is so powerful that to admit you don’t want to live in a house as open as a soccer field is to reveal something shameful,” The Boston Globe reports.

After all, the open floor plan was partially driven by the desire of parents to always be around their children, even when they’re in the kitchen. Also, some may be concerned that admitting a dislike for open floor plans is akin to saying they’re not relaxed enough to chat with guests while they prepare a fancy meal or neat enough to keep their rooms clutter-free at all times.

Open-floor remorse is even prompting some homeowners to consider adding new walls or sliding doors to bring in some privacy.

Nevertheless, current home shoppers still show a high desire for open floor plans.

“Whether [buyers] entertain or not, when they’re looking for a new home, they picture themselves entertaining,” says Kathy McSweeney with Collins & Demac Real Estate in Shrewbury, Mass. “They want that big open space.”

CALL THE WALTER TEAM TODAY TO DISCUSS YOUR BUYING PREFERENCES. 239-821-0994

YOU SHOULD CALL MARCO ISLAND HOME!

ARE YOU READY TO CALL MARCO ISLAND YOUR HOME?

Marco Island is the largest and only developed island in Florida’s Ten Thousand Islands, and its pristine waters, beautiful coastlines and spectacular community feel attracts people from all over the world! Packed with great amenities and things to do, this 4 mile by 6 mile Island, developed in the 1960s, has something for everyone. The beautiful white sand beaches, great water sports, and over 90 restaurants and bars was rated the #1 Island in the United States by Trip Advisor and #4 in the world in 2014! Our resort island has definitely been “discovered” as the JW Marriott has completed its renovation, becoming one of the best 5 star hotels in the world! Island Realty Marco’s office is just across the street from the JW marriott.  People come from all over the World to enjoy our fishing in the Ten Thousand Islands. If you have never taken an eco boat or kayak tour of the Ten Thousand Islands, you really need to. It is beautiful, educational and you can see dolphins, maybe some manatees and all types of wildlife.

 Off season, our island has around 17,000 full time residents; in season it swells to around 40,000+. Season is always packed full of fun events if you could tear yourself away from the beach for long enough! From the Seafood Festival to outdoor art shows, movies in the park, our popular farmers’ market, and Mutts and Martinis at CJ’s. Although our summer is undoubtedly quieter, there is still plenty to do. Many great exhibits at the Center for the Arts, daily yoga at south beach, our world class Historical Museum, fabulous July 4th beach party, monthly beach clean-ups and of course the ever popular outdoor music at the Esplanade every Thursday.

 Shopping abounds on Marco with mostly quaint mom and pop stores with plenty of retail options. Marco Island is a very safe and community oriented island. We have our own Police Department and Sheriff’s Department with our crime rate virtually zero. Our schools are all “A” rated with lots of parent participation. Marco is a great place to call home.

 If you are like most people who have visited Marco Island, you never want to leave, and the good news is that you don’t have to. There are many different types of properties for sale, and it’s just a matter of finding the one that matches your style, personality, and budget. To find that property, you must get a little more specific in your lifestyle and your wants and needs. “How many square feet do I want?” “What are my ‘must haves?’” “Do I want a home or condo?” “Do I want a water direct (no bridges) home or condo, so I can have a large vessel or sailboat?” What’s your Style? Contemporary or traditional? Prefer to live on a golf course or beach? As long as you know what you want, we can zero in on it. Call the Walter Team today for your perfect spot here on Marco Island. 239-821-0994

 Marco Island is split up into many different areas with a variety of spectacular homes. From cozy condos with unbelievable views of the Gulf of Mexico, Ten Thousand Islands and more, to sprawling estate homes that you have to see to believe. Luxury waterfront homes and luxury waterfront condos are all around; more than 80 percent of the island is actually on water.

 Hideaway Beach – is a gated community located on the northern most tip of the island. This is a private community and the only place where you can have a house right on the beach. They have condos on the golf course, condos on the water, homes on the beach, homes on the golf course and inland homes. There is currently one home on the beach for sale, listed at $7.5M, and one beachfront lot for $4.5M. There are inland homes ranging from $710K to $3.75M depending on the location, and inland lots ranging from $115K to $750K. Condos on the beach are between $759K to $1.545M and inland condos range from $879K to $959K.

 Cape Marco – is located in the southwestern tip of Marco Island, and has six separate high-rise towers featuring gorgeous, well-appointed condos ranging in size from 1,300 SF to penthouses that measure over 13,000 SF. Cape Marco is comprised of The Merida, Tampico, Monterrey, Cozumel, Belize and Vera Cruz. Each building has its own amenities. Most have their own fitness rooms, theaters, and gathering rooms and some also have boardrooms and guest suites available. Prices range, depending on view and size, from $769K – $3.497M.

 The Estates Area – is located in the south end of the island, comprising of very large “estate homes”, with large oversized lots, on water direct and close to the Ten Thousand Islands. Some inland homes as well. A lot of “Mega Homes” are located here, due to the size of the lots and beautiful views. Very private and peaceful area. Inland homes range from $579K – $1.8M. Water direct homes range from $1.299M – $7.2M, and water direct lots range from $750K – $4.995M, with water indirect lots ranging from $240K – $725K.

 Old Marco – is at the northeast corner of the Island and was one of the first developed areas on Marco, as a quaint old fishing village. It now features spectacular condominium complexes and water direct homes. These homes and condos vary in prices depending upon location and size. There are some inland homes and condos as well as water direct homes and condos. Water direct condos range from $199K – $439K, and water direct homes from $975K – $4.75M. Inland condos start around $174K up to $330K.

 The River Area – is located in the northeast and this beautiful area is generally serene and peaceful. Because it is just a short distance to Naples by boat, it’s the perfect place to be if you are ready to set sail! Water direct homes in the area start from $549K to $3.999M.

 The South End – is one of the most desirable spots as it is within walking distance to shops and restaurants. Condos and homes are either inland or water direct. Inland condos start at $299K – $695K, water direct condos (most with boat slips) start at $319.9K – $625K. Water direct homes start at $875K – $4.995M and inland homes range between $485K to $625K.

 The Tigertail Area – near the northern end of Marco Island, Tigertail Beach is a 31-acre stretch of land so people love to live close by. The beach offers water sports and has a lot of natural resources. The homes in this area are within walking/biking distance to the beach. It is comprised of water direct homes (no bridges) starting at $805K – $3.15M and inland homes range from $479K – $785K.

 Condos – Beachfront condos with 1 to 4 bedrooms range in price from $255K – $9.9M, and Gulf front condos with 2 to 4 bedrooms range from $549K – $1.399M, and Inland condos ranging from $112K – $695K. Something for everyone!

 Call the Walter Team today and we will guide you through the buyer process that ends with  Your own Island Oasis.  239-821-0994