Marco Island Q1 Statistics Show Positive Trends
Based on the Marco Island Q1 2008 Statistics , sales volume has outpaced the same period last year and April/May sales volumes are strong. In the meantime, inventory and prices have continued to drop from the previous year. Year-to-Year average prices are down about 20% from the peak of the last seller’s market while median price fell about 26%. We are also seeing positive price growth from Q4 2007 to Q1 2008.
The biggest factor that is driving this growth is buyer sentiment. Most buyers are now very positive about the real estate market in southwest Florida and many believe that THE TIME TO BUY IS NOW. I agree! We are definitely into a positive shift in the market, fueled by those buyers that missed their opportunity to buy previously, those baby boomers that are starting to retire and by a growing interest from foreign investors that want to take advantage of the favorable exchange rates.
So, what should you expect in the next 3-6 months?
Prices should be leveling off
Good deals will be available. Great deals will become harder to find
Buying activity should remain strong through summer as saavy homebuyers and the Europeans hunt for properties
Sellers should still be negotiable
My recommendation is to start planning your trip to Southwest Florida for this summer, allow me to create/revise your own Personalized Property Search and let’s lock in on what you are looking for before the best buys disappear!
For more information about Marco Island Homes for Sale, contact:
Joseph A. Bartos, P.A.
Assist 2 Sell Buyers & Sellers Real Estate
(239) 404-5068
mailto:info@bartosgroup.com
Let us assist you in buying or selling a property in the Marco Island area.
Labels: growth, Marco Island, Q1 2008, real estate, statistics
posted by Joe Bartos @ 5:34 PM
3 Comments
3 Comments:
Although there has been a recent uptick in sales and a slight decrease in inventory, it is not very meaningful when there is a 29 month supply of condos. This supply will need to shrink to about 5 months supply before the market turns. I'd say this market has a least 1-2 years before it stabilized.
Where's the April '08 statistics post?
AP
US home prices drop at sharpest rate in 20 years
Tuesday May 27, 9:06 am ET
Widely watched housing index says home prices fell at steepest rate in 20 years in 1st quarter
NEW YORK (AP) -- A closely watched housing index shows U.S. home prices dropped at the sharpest rate in two decades during the first quarter.
The Standard & Poor's/Case-Shiller said Tuesday its U.S. National Home Price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988.
Its narrower indices also set record declines. The 20-city index tumbled 14.4 percent during the quarter, the lowest since that index was started in 2001. The 10-city index plunged 15.3 percent, a record in its 20-year history.
"There are very few silver linings that one can see in the data. Most of the nation appears to remain on a downward path," said David Blitzer, chairman of S&P's index committee.
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