Marco Island, 4th 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 mixed over the past 12 months with water direct homes off 4% , water indirect up 7% and Inland homes up 3%.  Over the last 12 months the average water direct lot sale price was off 37%, indirect lot average prices were down 4%, and Inland lot prices were up 5% on average.  Total home units sold in 2018 versus the same period in 2017 were down 27, with 2 more water direct, 6 fewer water indirect, and 23 fewer inland homes sold.  Total lot units sold in 2018 versus the same period in 2017 were down 41, with 7 fewer water direct, 11 fewer water indirect, and 23 fewer inland lots sold.  Total condo units sold in 2018 versus the same period in 2017 were up 23, with 17 more beach/gulf, 16 more waterfront, and 10 fewer inland condos sold. Overall, Inventory levels are down 8% from last year, with the number of pending units on January 1,2019 up by 7% compared to January 2018.