Marco Island real estate is sizzling as we enter the hot summer months! Recent statistics released by the Multiple Listing Service show that the average sale price for single-family homes have surged over 62 percent and condo prices are up over 10 percent. Add this to first quarter sales volume that is up over 24 percent and you've got a real estate market that is on fire.
Looking back on the first quarter we see that 2015 sales totaled nearly $220 million which is up from just $177 million in 2014. That's a 24 percent increase!
April Marco Island real estate numbers show no sign of slowing down with the average sales price up nearly 20 percent for all property types. In April, the average sale price was nearly $740K compared with $617K a year ago.
While April showed a big increase in average sales price, the overall volume sold was flat and the number of single-family homes on the market actually decreased by 21 percent. But the average sale price for those homes increased 62 percent. Additionally total dollar volume sold for single-family homes surged by over 26 percent from just under $39 million to just over $49 million in April.
Moving on to Marco Island condos, the market showed that the number of condo listings increased over 17 percent in April though the total number of Marco Island condos on the market decreased 22 percent. Good news with the average sales price as there was a nearly 11 percent increase.
With these recent numbers, now is a great time to sell in Marco Island while the real estate market is going strong.