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Summer 2010 Market Update
Market Commentary Provided bySally and John Pelling The main thing that attracts people to Marco island is the white sand crescent shaped beach. This is a rare find, globally! Fishing, boat access to the gulf is also very sought after. |
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| Average Home Price | $900,000 - View Graph Trend |
| Average Price Compared to Last Year | About the same |
| Average Time on Market | 90-120 days |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | more buyers than sellers |
| Seller Activity for the past 90 days in Marco Island is? | |
| Multiple Offers? | No |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | |
| Is Financing Available For Qualified Buyers? | |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | Condos/Townhomes |
| Reason to Buy/Sell | Other |
| Nearest Metro Area | Fort Myers, FL |
| Housing Hot Spots | The hottest spot is beach condos where you can walk out to the beach. There is limited supply on the beach with no more room for building there since the island is 4 miles by 6 miles. Secondly, Single family homes with water access to the Gulf for boats and fishing. |
| Average Sold Price | $900,000 - View Graph Trend |
Marco Island Local News
Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt Survey Shows
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
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Mortgage Rates
– Jul 30th, 2010 –
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30 yr. fixed rate: 4.60%---------------------------------
15 yr. fixed rate: 4.07%
30 yr. jumbo rate: 5.42%
15 yr. jumbo rate: 4.98%
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Sally and John Pelling
Premier Plus Realty |
239-784-8034 |
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