SINGLE FAMILY HOMES TAKE THE LEAD...

Back when I put out the Marco Island Market Report 2006, I estimated that we would see single family homes start to lead the charge back to normal market conditions based on the average sold price's position in relation to the current growth curve for single family homes.

The average price of single family homes has risen about 15% over the last 10 years with the exception of 2003-2005. 2005 proved to be a transitional year. Although, sales volume was still up for most of the year, we began to see a softening of the average price of single family homes. As 2005 ended and the 2006 season began, buyers started to put the brakes on buying. This trend continues through October 2006

As 2006 closed, we saw single family homes sales outpace both November 2006 (by over 34%) and December 2005 (by over 63%). This growth in units sold is an good sign that buyers are entering into the single family home market on Marco Island. However, we will continue to see more homes come onto the market as January is historically the most active month for new listings. The good news is that we do expect the buyer demand to continue to increase as conditions become more favorable.

For more information about Marco Island Real Estate, contact me at (239) 404-5068.

Joseph A. Bartos, P.A.
Reator, Amerivest Realty