I've written a couple articles about this lately and I'm doing it again just to emphasize an important point. The lower priced stuff is being gobbled up, so fast it'll make your head spin. Regardless of the price range you may be interested in, this is an good indication of market sentiment. We have customers coming in daily looking for inexpensive property to hold, rent out or use as a second home. Everyone realized the market bottommed sometime in the last year and now they're afraid that these prices will be gone if they don't move quickly. They're right.
Of six houses I wanted to show a recent customer, four had gone under contract in the last week. This is amazing.
So, the lowest priced stuff available in Naples and Marco Island keeps going up. Six months ago, there were condos on Marco listed in the $50s. If you want a unit in the same building now, you'll pay 20-30% more - and that's still cheap!
For the broader Marco Island real estate market, it looks like this is just more evidence of the bottom hardening into a good foundation for future growth.