Marco Island, 3rd Quarter 2018 Real Estate Market Update
There was a 7% decrease in the number of homes sold in 2018 compared to 2017. Average home prices were up over the past 12 months with water direct homes up 5% , water indirect up 6% and Inland homes up 16%. Over the last 12 months the average water direct lot sale price was up 6%, indirect lot average prices were down 7%, and Inland lot prices were up 5% on average. Total home units sold in 2018 versus the same period in 2017 were down 20, with 5 more water indirect, 3 fewer water indirect, and 22 fewer inland homes sold. Total lot units sold in 2018 versus the same period in 2017 were down 34, with 11 fewer water direct, 9 fewer water indirect, and 14 fewer inland lots sold. Total condo units sold in 2018 versus the same period in 2017 were up 22, with 10 more beach/gulf, 20 more waterfront, and the same number of inland condos sold. Overall, Inventory levels are down 7% from last year, with the number of pending units on October 1,2018 up by 7% compared to October 2017.