During August, the Marco Island real estate market saw rising sales for both condominiums and single-family homes.
Compared to last year, Marco Island saw an increase in pending sales by 27.6 percent and increase of 23.7 percent for closed sales.
Now is the time to get in the Marco Island real estate market and purchase your dream home!
August brought another busy month, with home and condo resales up nearly 40 percent. A monthly report by the Naples Area Board of Realtors shows 545 total sales in August, up from 395 in the same month a year ago. The report tracks Realtor sales made through the SunshineMLS, or multiple listing service, in Collier County, excluding Marco Island. In the 12 months ending in August 2009, pending sales increased 47 percent over the previous year in the Naples area. Pending sales for condos increased 89 percent to 379 contracts last month, up from 201 a year ago. The inventory of homes and condos on the market shrank to 9,163 last month, down 13 percent from 10,532 a year ago. (A related statistic from NABOR: In July, 2008, there was a 30.6 month supply of homes on the market. In July, 2009, that number has dropped by almost a year to 18.7 months.) Condo sales increased by 61 percent with 283 in July 2009, compared to 176 in July 2008.
Pending real estate sales in Naples saw an overall increase of 87% in August. During August 2009, Naples had 862 properties under contract, compared to August 2008 when only 461 properties were under contract.
In the middle of September, 56 percent of real estate under contract were single-family homes and 44 percent were condos and villas.
The direction of the market is definitely changing locally as well as nationwide. Don’t miss your opportunity to own a piece of beautiful Naples real estate!