Marco Island real estate continues to outperform the previous year's volumes and chip away at the current inventory. Speaking of inventory, the overall inventory was down nearly 15% from last year. To make matters more appealing, the overall pending sales are impressive with over a 91% increase over last year and 10% higher than the July 2011. Single Family Homes took a little break from its sales volume climb while lots and condos hit the gas peddle, with increases of 80% and 175% over August 2010, respectively. The total closed sales notched up at 61.5%.
It is not surprising that we are seeing major sales increases over last year due to the drop in sales attributed to the gulf oil spill. However, you can't deny that the sales volume strength has been consistent. The good and bad news is that prices have not found enough momentum to start pushing prices up but it is only a matter of time before they will. Keep in mind, average price has many factors the contribute to its number.
Click the link to see all the Marco Island Real Estate Statistics for August 2011