A week or so ago, I wrote an article entitled "Marco Single Family Home Sales Are Lagging?" So, today, in an attempt to dig a little deeper, I thought we'd take a look at a few more numbers. We're only looking at single family homes in this. Condos and lots are a little stronger and we'll look at those in upcoming articles.
First, the number of Single Family Home sales on Marco Island this month was 25. This is down from 33 just last month and 45 in July of last year. What do we make of this? Well, inventory has been steadily shrinking as the market has bottomed. There are 282 SFH listings on the market right now compared with 397 this time a year ago. Everyone's confidence in a solid bottom has brought many buyers off the sidelines and
Yes, it's true. Marco Island single-family home sales are lagging a little behind condos and lots as we move through the summer. Nobody is really complaining, though. What has been a busy season for all of us continues. Overall numbers are strong but single-family-homes are not quite keeping up with lots and condos. Of course, only taking June snapshots isn't the best analysis but it is a fast and dirty way to take the market's temperature.
Compared to June, 2011, SFHs sold are down 5%, avererage selling price is up 0.5% but the median price has fallen over 16%. The low median price number is certainly a shocker but I think we'll see prices bouncing in a range for some time.
Marco Island Condos, on the other hand, are having a fantastic
