Monthly Year-over-Year Comparisons
While October 2013 showed consistent, double digit gains, the gains were limited to only a 10.8% gain which falls short of the "hot" sales growth experienced in previous months. The dip to nominal, double digit gains in closed sales can be attributed to the fears and eventual Government shut down for the first half of October 2013.
Below represents some of the strong gains we have experienced in closed sales in the Marco Island Real Estate Market in 2013 (for a year-over-year comparison):
May 2013 -- 45.2% increase (in comparison to May 2012);
February 2013 -- 30% sales increase;
- April 2013 -- 20.6% increase;
- July 2013 -- 18% increase;
- September 2013 -- 16% increase.
- October 2013 --10.8% increase.
Note: The color coded line items above are reflected on the Closed Sales Trends chart below.
As sales volume increased in October 2013, the number of properties for sale continued to decline and represented levels not seen in over 8 years. Reference the inventory chart below to review the continued downward trend in properties for sale.
YTD Comparisons (1/1/13 to 11/20/13)
Excitement in the Marco Island Real Estate is noted when reviewing the year-to-date (YTD) analysis. Overall, for YTD 2013 versus YTD 2012, sales and prices have increased, days on the market or the amount of time it takes to sell a property decreased, and Buyers negotiated less off of the purchase price. Below summarizes the information for YTD 2013 versus YTD 2012:
- Sales Information
- Closed Sales increased 6.07% for YTD 2013;
- Pending Sales/Under Contract increased by 6.54%.
- Sales Price
- Average Sale Price increased by 14.56%;
- Median Sales Price increased by 3.56%;
- List to Sell Ratio dropped by 2.13%;
- Average Days on the Market decreased by 10.02%.
With "Car Trailer Season upon us", the season when all our northern residents bring their cars back to Florida for the winter months, we are excited about the continued buyer activity and lowering inventory levels for months to come.
Reference detailed sales trends and charts below on the Marco Island Real Estate Market. For a comprehensive market analysis or more information on the real estate market, e-mail Natalie at NKirstein@JohnRWood.com, or call 239-784-0491.
Top 10 Sales Leader 2012 Marco Island Real Estate
Over $19,000,000 in closed sales in 2012