Apollo Market Update - February 2007

Read my prior updates here on the Apollo condo.  Like all of Marco Island, there has been not much activity here as well.   In fact there were no sales in this building according to the Marco Area MLS in 2006, so to have one in 2007 is showing that there are some signs of activity slowly coming back to Marco Island.

The Apollo has the most important thing when it comes to Real Estate -- Location! Location! Location!  Located right on the beach at the southern end of Marco Island's Crescent Beach.  It also allows daily rentals, so it made for a popular choice of investors. 

• There were no sales in 2006 for any units on the MLS for the Apollo. and currently there are no pending units.
• There are 6 1 bedroom units available with an average list  price of $541,117 and an average of 115 days on the Market.
• There are 2 3-bedroom units available with an average list price of $1,250,000 and an average of 420 days on the market.
• There has been one sale in 2007 and it was a 1 bedroom unit and it sold for $450,000 with an average of 356 days on the market. 

What does this mean?  Well I believe that there has been a correction in the market, just like that at Angler's Cove has experienced.  Investors have left the market and are trying to get rid of their properties.  Now that buyers are starting to purchase we will see prices normalize.  This is an excellent time to purchase a property if you:

• Are ready to make a long term investment, hold onto for at least 3 years
• Ready to enjoy the best that Florida has to offer
• Know what you want and are open to the possibilities as there are many options right now with the sheer number of listings available. 
• Have your financing in place and ready to go, sometimes the best deals you need to be able to close in a short period of time.

To discuss Southwest Florida opportunities, please feel free to call me at (239) 821-3063 or email me at colleen@paradisereport.com.   Visit my website for additional information, and photos of Southwest Florida. 

All statistical information is gathered from the Marco Island Area Association of Realtors.  This information is deemed accurate, but not warranted.