The latest market data from the Marco Island Area Association of Realtors reveals a real estate landscape in transition, with inventory levels rising significantly while sales activity remains subdued.
Inventory Surge Shifts Market Dynamics
Total inventory jumped 17% to 759 properties, driven primarily by a 20% increase in single-family homes (278 listings) and a 19% rise in condominiums (398 listings). This inventory growth signals a shift toward a more balanced market after years of tight supply conditions.
Extended Marketing Times Reflect Buyer Selectivity
Average days on market increased substantially to 168 days overall—a 65% jump from the previous year. Single-family homes are experiencing the most dramatic shift, with marketing times declining 32% to 70 days, while condos and lots are taking significantly longer to sell, up 43% and 152% respectively.
Sales Volume Contracts Significantly
Only 75 properties sold in May, representing a 35% decline from last year. Single-family home sales dropped 31% to 36 transactions, while condo sales fell 33% to 37 units. This reduced activity contributed to a 29% decrease in total sales volume to $113 million.
Pricing Trends Show Divergence
The median sales price landscape presents mixed results. While single-family home prices dipped 5% to $1.6 million and condos declined 20% to $580,000, vacant lots saw a remarkable 218% price increase to $1.3 million, suggesting strong demand for development opportunities.
Market Outlook
These metrics indicate Marco Island’s market is normalizing after several years of exceptional activity. Increased inventory and longer marketing times provide buyers with more choices and negotiating power, while sellers must adjust expectations to current market realities. The lot price surge suggests continued faith in the area’s long-term development potential.
Interested in learning more? Contact one of Downing-Frye Realty’s experienced associates for expert guidance.