Marco Island Real Estate Market Report Third Quarter 2015
- The number of residential properties listed during the third quarter posted a 7% increase, with condominiums increasing for the first time since 2012 for this period.
- The number of condominium closings during Q3 2015 increased 8% year-over-year, while single family home closings declined 19%. Inventory is typically at its lowest levels during third quarter which likely accounts for the significant decline in the number of single family homes changing hands.
- The combined average sale price for single-family and multi-family residences closed during the quarter increased 26.7% over the same period 2014. This follows a 6% decline in the average price Q3 2013 to Q3 2014.
- Demand for Marco Island properties is expected to remain strong throughout the coming season. Overall, supply appears to be in balance with demand, although some segments may be experiencing shortages of product.This report does not take into account residential lot sales, which are a significant factor in the Marco Island market. It is intended to give the reader a broad, general view of the residential market as a whole and its performance for the third quarter over time. Buyers and sellers should request current market data for properties in which there is specific interest.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2014 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”