McCarty’s Marco Island Real Estate Summary for September 2009
We are happy to report that the month of September 2009 ended with a whopping 99 pendings for Marco Island real estate for the month, up 154% over last year at this time, exceeding our expectations and starting the season off with a bang!
Season came early this year based upon a combination of the following: amazingly low interest rates (under 5% for primary residences), sellers pricing their property at the market level, property priced half-off compared to the peak prices several years ago, buyers who were watching from the fence deciding to jump back into this market, a damp and cold summer up north, and sunny skies all year in tropical Marco Island!
It’s important to note that we are down to 1,524 properties for sale on Marco Island, compared to over 1,900 just two years ago! Inventory is declining, sales are increasing, and with the basic “supply and demand” model in mind, we firmly believe that segments of the Southwest Florida real estate market are recovering and others have recovered!
Home pendings (under contract) continue to be strong accounting for almost 18% of the total active homes on the market. Condo pendings continue to be strong with over 9% of the condos on the market under contract. Lots are slower to sell at this time with just over 3% of the lots marketed in the pending category today. We expect the lot market to improve over the next 6-8 months, so now is the time to pick the ideal location for your Marco Island dream home!
We appreciate your business and we specialize in helping buyers and sellers with Marco Island real estate and Naples real estate! Contact the McCarty Group at 239 970-3250 at Keller Williams Realty today!
Statistics were gathered from the Marco MLS (Innovia) by Wendy McCarty.