Marco Island Realestate -Feb 2019- Positive Pending Home Sales

By
Real Estate Agent with John R. Wood Realtors

 

Marco Island Real Estate

 

Many are escaping the frigid winter weather up north to our island paradise. For January 2019, Southwest Florida International Airport saw an increase in travelers by 8.7%. The increase in travelers may stem from our consistent recognition for the following: best beaches, lifestyle, safe city rating, golfing, best for retirement, etc. Also, the JW Marriott Convention facilities are fully operational and attracting prestigious conventions to our island paradise.

 

To enjoy a real time look at our winter paradise, check out the link to the JW Marriott beach cam: Link to JW Marriott Webcam

SINGLE FAMILY HOMES

 

A surprisingly, positive part of the real estate report for February is the pending sales, indicator of future sales, for single family homes which reported an increase of 14.58%.

 

Indicators for single family homes are mixed.

·    Annual sales (3/1/18-2/28/19) are equivalent with inventory.

·    The Annual Average Sale Price increased by 13.5%. Part of this growth can be attributed to the stronger demand in the luxury market.

·    Inventory, or number of homes for sale, increased by 8.28% in a year-over-year comparison. However, while home inventory is rising, the overall inventory still remains at the third lowest levels in the reporting period on the chart (2010-2019).

·    Annual sales declined slightly by 5.01%.

 

February Sales Trends

 As you may recall, both closed (+26.67%) and pending sales (+7.32%) were positive in January 2019 for the home market.

 

For February 2019, those indicators are mixed:

·    Pending sales, an indicator of future sales, increased +14.58%.

·    Feb 2019: 55; Feb 2018: 48

·    Closed sales were down by 5 sales with a decrease of 16.17%.

·    Feb 2019: 26; Feb 2018: 31

 

CONDOMINIUMS

Condominiums indicators are mixed and very segmented for the condominium market::

·    2018 Annual Sales exceed Year-End Inventory which means that there was more demand than properties for sale.

·    Annual sales increased by 3.51%.

·   Annual average Sale Price increased by 9.68%.

·    While inventory, or number of homes for sale increased by 15.69%, in some segments of the condominium market, we have Buyers that can't find their dream property in paradise.

 

February 2019 Sales Trends

·    Overall condominiums sales dropped by 4 sales in February for a decrease of 12.5%.

·    Feb 2019: 28; Feb 2018: 32

·    Pending sales also declined by 2 sales with a decrease of 3.29%.

·    Feb 2019: 59; Feb 2018: 61

 

Marco Island is experiencing a very segmented real estate market. However, there are some strong performers in the current market such as the luxury market, parts of the single family home market, and select areas of the condominium market. To find out what is hot in the market today, contact Natalie Kirstein, phone 239-784-0491.

 

Comments (4)

Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon 

Thank you for sharing your information with us Natalie Kirstein 

Have a great day.

March 18, 2019. 

Mar 18, 2019 01:09 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Natalie,  Great information to share with us here in the rain and your buyers and sellers in your area.

 

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Mar 19, 2019 02:28 AM
#3
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Excellent post to keep those buyers interested in Marco Island updated on the market.

Mar 25, 2019 11:46 AM

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