Marco Island Real Estate Market Report 7-13-2022

Dated: July 14 2022

Views: 2

Bill Bergen
239-404-1890 cell
Marco Island Real Estate Market Report 7/13/2022.
Thank you for your time. I look forward to working with you now or in the future. Please don't hesitate to contact me with any real estate questions or concerns. Bill B
Marco Island Area Association of Realtors®
June Marco Island Real Estate Market Report
Median sell price for Marco homes was up 68%, 36% for condos and 17% for lots. Inventory is up 11% from last month and continues to increase.
Top takeaways
U.S. home prices (including distressed sales) increased 20.2% in May 2022, compared to May 2021. On a month-over-month basis, home prices increased by 1.8% compared to April 2022.
In May, annual appreciation of detached properties (20.9%) was 2.9 percentage points higher than that of attached properties (18%).
Annual U.S. home price gains are forecast to slow to 5% by May 2023 as rising mortgage rates and affordability challenges are expected to cool buyer demand.
Tampa, Florida, logged the highest year-over-year home price increase of the country’s 20 largest metro areas in May, at 33.4%, while Phoenix posted the second-largest hike, at 28.7%. These two metros also registered the largest gains in March and April.
Florida posted the highest home price gain, at 33.2% year-over-year, followed by Tennessee with 27.4%. Arizona ranked third with a 27.3% year-over-year increase. Washington, D.C. ranked last for appreciation at 4.3%, but CoreLogic forecasts that the rate of price growth there will rise slightly by May 2023.
© Florida Realtors®
About Marco Island Area Association of Realtors®
The Marco Island Area Association of REALTORS® represents over 700 local real estate professionals. The association provides valuable educational programs, services, events, and resources to its members and subscribers.
Data courtesy of Marco Island Area Association of Realtors® Multiple Listing Service (MLS) for the period June 2021 and June 2022. For the purpose of this report, the following property types are measured: single family homes (RE1), condos (RE2), and lots. Decimals rounded to the nearest whole number.
This week's inventory on Marco Island.
Click on the link below to view the
NEW, PENDING, and SOLD properties for last week,
July 4thth to July 10th on Marco Island.
This week there were 14 price adjustments
and 13 were reductions.
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The current single-family inventory consists of 122 homes,
Prices range from $750,000 to $16,000,000.
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The current condominium inventory consists of 129 condos, 26 inland, 4 water indirect, 35 water direct and 54 on the beach.
Prices range from $248,000 to $9,900,000.
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The current vacant lot inventory consists of 81 lots, 35 inland,
11 water indirect and 35 water direct.
Prices range from $239,000 to $12,500,000.
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To view all properties for sale, please visit my website at bbergen.com
Thinking of buying or selling this year?
I am happy to sit down with you and talk about it.
Let me know if there is anything
in the world I can do for you!
Bill Bergen
239-404-1890 cell
Proudly serving Marco Island.
Blog author image

William Bergen

Bill Bergen, REALTOR®, was born and raised in Westchester County, N.Y. The middle child of eleven, 2 girls and 9 boys! Bill has always had an entrepreneurial spirit beginning with a lawn business ....

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