Wow! It's been quite a year for vacant lots on Marco Island. The market, in general, has been strong all summer long. Median prices are up for homes, condos, and lots but the stand-out statistic is the volume of lots sold. So far this year, we've sold 196 lots. Last year by this time, we had sold 107. That's an 83% increase! It's incredible.
To what can we attribute this incredible demand? Well, construction died in Florida a few years ago. If you live in Florida, you're probably aware of a couple of neighborhoods that are still ghost towns to this day. New home construction came to such an abrupt halt in 2007 that some homes were even left half-built. Builders were going bankrupt under heavy debt loads that could no longer be supported by
Here are some new stats on lot sales on Marco Island and things are looking good. Now, if we can get the prices to recover we'll really be in good shape.
Wow! It's been quite a year for vacant lots on Marco Island. The market, in general, has been strong all summer long. Median prices are up for homes, condos, and lots but the stand-out statistic is the volume of lots sold. So far this year, we've sold 196 lots. Last year by this time, we had sold 107. That's an 83% increase! It's incredible.