My last post about lots was in July, and mainly focused on the various types of lots on Marco Island and what is going on generally. I would like to take this post to delve deeper into the numbers. First off for this discussion, I am only going to be talking about three distinct categories of lots on Marco Island -- Inland/Golfcourse, Water Direct and Water Indirect lots.
The following chart shows the number of lots that are Active, Pending and Closed since July 1, 2006. The absorbtion rate was calculated on the prior 4 years sales, and is stated in # of Years it will take to absorb the current inventory. Once must take into account that the number of sales in each of these categories is down siginficantly from last year, so the Absorbtion Rate can be a lot higher.
| AREA | Year | # of Units Active | # of Units Pending | # of Units Sold | absobtion rate |
| Inland/Golf Course Lots | 2006 | 176 | 3 | 17 | 1.83 |
| Water Direct Lots | 2006 | 139 | 0 | 11 | 2.00 |
| Water Indirect Lots | 2006 | 120 | 3 | 16 | 1.31 |
The next table shows you the average list price for the Active, Pending and Sold along with the average sold price for the lots sold in the area:
| AREA | Average List Price Active | Average List Price Pending | Average List Price of Sold | Average Sold Price |
| Inland/Golf Course Lots | $ 540,195 | $ 402,800 | $ 467,312 | $ 401,412 |
| Water Direct Lots | $ 1,629,755 | $ - | $ 1,881,718 | $ 1,658,182 |
| Water Indirect Lots | $ 891,859 | $ 649,633 | $ 630,544 | $ 541,156 |
The next chart is the Average Days on the Market
| AREA | Active DOM | Peding DOM | Sold DOM |
| Inland/Golf Course Lots | 311 | 269 | 275 |
| Water Direct Lots | 332 | 0 | 402 |
| Water Indirect Lots | 301 | 344 | 228 |
It is always interesting to see that people focus in on the % of change this year to the prior year. But just look at the numbers over the past 5 years and you have seen some incredible appreciation.
| AREA | % Change | 5 Year % Change |
| Inland/Golf Course Lots | -21.87% | 268.40% |
| Water Direct Lots | 21.33% | 221.42% |
| Water Indirect Lots | -39.68% | 86.14% |
Whether you are looking to buy/sell a lot, condo or home here on Marco Island Florida, I can provide you with the service you are looking for and the service you deserve. If you would like more information on this Marco Island or any Naples area community, please give me a call at (239) 821-3063 or email me at colleen@minre.com.
** All statistical information was gathered from The Marco Island Area Association of Realtor. **
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