Marco Island Update by Dale Glon
Statistics for Marco Island only properties, from the Marco Island Area Association of Realtors Multiple Listing Service show high sales activity since the beginning of the year compared with the same time frame last year.
Statistics from January 1, 2011 through August 31, 2011, all property types, show an increase of activity and price compared to the same period of time last year, January 1, 2010 through August 31, 2010.
Sold listings are up 24.13% during this comparable time frame, and pending listings are u 29.66%. Volume of sold listings is up 28.80% while average days on market are down 8.74%
At the same time, the median sale price is up 1.10% and the average sale price is up 3.76%. New listings coming on the market in the 2010 and 2011 year-to-date comparison have decreased by 11.06%
Month to Month Activity Comparison-August 2010 with August 2011
Pending listings, all property types, are up in the August 2010 and August 2011 comparison by 95.65%. Total all property types closed (Marco Island only) was up by 61.54% in the same comparison.
Total sold dollar volume was up 39.03% in the August 2010 and August 2011 comparison.
Meanwhile, inventory on Marco Island continues to decrease. Total active listings, all property types are down in the August 2010 and August 2011 comparison by 15.14%. New listings coming on the market were down in the same comparison by 0.93%.
According to the National Association of Realtors (NAR) Housing Affordability Index, housing is at its most affordable in a generation. More specifically, the index shows there hasn’t been a better home buying opportunity in 40 years.
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