August Single Family Home Stats

August was a good month in the Single Family Home (SFH) market on Marco Island.  Sales were brisk.  Listings are up.  Smiles are up. 

In August, New listings were up 15% over July and up a whopping 44% over August of last year.  Sold listings in August were up 12% over July and up 31% over August of 2011.  Pendings are following the same trend.The only cloud on this sunny day are August prices.  The August median SFH price is down about 2% when compared to August of last year.  Don't worry to much about that, though.  The year-to-date median price which is a much better barometer of price trends is up - 3.4%.  Not to shabby.

From an anecdotal perspective, our customers these days are not wasting time choosing a property to buy.  The general sentiment is that everything is a good deal right now and these deals aren't likely to exist in the future.  We are still getting the occasion buyer who is willing to buy sight-unseen.  This tells me, we are still over-sold and should see a bounce in prices if only intermittently.  Remember, the "shadow" foreclosure inventory is predicted to hold prices down for a few more years.  My advice is for sellers to take advantage of the little spikes.  If you're a buyer, I would suggest buying a quality house now.  It will never be this cheap again.