Last Week's Sales on Marco Island

Last week saw a total of 16 sales close on Marco Island with the majority of those being condos.  To break it down:

• Three homes sold with two very close in price at $250,000 and $255,000 respectively and one at $667,500. 
• Thirteen condos sold ranging in price from $80,000-$1,675,000.

Sometimes there's an obvious trend.  For example, condos that sell mostly in the $300,000-$600,000 range.  That was not the case this week.  Prices were all over the place with no obvious rhyme or reason to it.  Let's take a closer look at what sold:

• The two Marco Island homes that sold in the $200's were both inland with no water access.  This would explain their lower prices however, the one that sold on 29 N. Barfield was an exceptional deal.  It was located in the River area which is very desirable.  The home that sold for $667,500 was a water direct lot with quick entry to the Gulf.  All three homes sold, on average, for 95% of their asking price.
• There were two condos on Marco Island that sold for $80,000.  One was located in Estuary II and one was in San Marco Villas II.  For the square footage and number of bedrooms, both appeared to be great deals.  We've noticed that these less expensive values are slowly starting to disappear.  There was a condo in Southwinds that sold for $93,000 and one in Smokehouse Bay that sold for $152,000 (full price!) and was only on the market for 41 days.  After that, the prices jump up to $345,000 and top out at $1,675,000.  That listing was at Veracruz on Cape Marco.   

Not bad for one week!  I look at these sales as very encouraging.  Not only are all the price ranges represented but, we're not even "in season" and already the numbers are this strong.  If you're hoping to buy in the future, we would recommend you get out there before all of the good deals are gone!  We're already out of the bottom and things are only going to keep going up.  You want to get on the bus before it leaves completely.  If you have any questions about the current market or would like us to send you a list of current homes or condos for sale in your price range, contact The Boyle Team anytime!