Marco Island FL Market Report

Marco Island FL Market Report

Marco Island FL, Florida is located in Collier County on the Gulf of Mexico. It is known for its white sandy beaches and turquoise waters, and is a popular destination for visitors and locals alike. The island has a population of about 17,000 and is the largest barrier island in the Ten Thousand Islands area.

The real estate market in Marco Island is hot. Prices are rising, and the demand for homes is increasing. The median home value is $632,000, up from $607,000 in 2023. The median price per square foot is $374, up from $355 in 2023. The rental rate is $3,000, up from $2,700 in 2023.

The housing market in Marco Island is showing positive signs. The median list price is up 3.3% over the past year, and the number of homes sold is up 8.1%. The number of distressed properties is down 15.7%. The island is a popular destination for vacationers, retirees, and investors alike, and the strong real estate market is reflective of this trend. The condo market in Marco Island is also doing well. The median list price is up 2.1%, and the number of units sold is up 10.7%. The median price per square foot is up 3.2%. The rental market is also strong, with the median rent increasing 3.6%.

The job market in Marco Island is booming. The unemployment rate is 3.5%, down from 4.3% in 2023. The job market is expected to remain strong in the coming years. Overall, the Marco Island real estate market is strong and is expected to remain so in the coming years. Home values are increasing, the number of homes sold is up, and the job market is booming. The island is an attractive destination for vacationers, retirees, and investors alike, and the strong real estate market is reflective of this trend.

FAQs for Marco Island, FL Real Estate Market Report

1. What is the current median list price for homes in Marco Island, FL?

• The median list price for homes in Marco Island, FL, is $2,199,000 as of July 29, 2024.

2. What is the Market Action Index (MAI) for Marco Island, and what does it signify?

• The MAI is 32, indicating a slight seller’s advantage in the market. This index reflects the ratio of sales to inventory and helps gauge whether it’s a buyer’s or seller’s market.

3. How has the MAI changed compared to last month?

• The MAI has remained stable at 32, consistent with last month’s index.

4. How many homes are currently listed for sale in Marco Island?

• There are currently 190 homes listed for sale in Marco Island.

5. What are the average and median days on the market for homes in Marco Island?

• The average days on the market is 164, while the median days on the market is 130.

6. What is the median price of new listings in Marco Island?

• The median price of new listings is $2,499,000.

7. What is the price per square foot for homes in Marco Island?

• The price per square foot is $876.

8. How does the median rent price in Marco Island compare to other areas?

• The median rent price in Marco Island is $12,625, which is significantly higher than in many other areas.

9. What are the key market segments in Marco Island by price range?

• The market segments are:
  • $5,350,000: 4,391 sq. ft., 0.25 – 0.5 acre lot, 4 beds, 4.5 baths, average 147 days on market.
  • $2,725,000: 2,546 sq. ft., 0.25 – 0.5 acre lot, 3 beds, 3 baths, average 126 days on market.
  • $1,796,000: 2,165 sq. ft., 0.25 – 0.5 acre lot, 3 beds, 2.8 baths, average 122 days on market.
  • $1,040,000: 1,669 sq. ft., 8,000 – 10,000 sq. ft. lot, 3 beds, 2 baths, average 122 days on market.

10. How has the real estate market in Marco Island been performing recently?

• The market has been relatively flat with prices holding steady for several weeks. The inventory has increased to 190 homes, and the market action index remains stable, indicating a slight seller’s advantage but with signs of cooling.

11. What percentage of homes have had their prices decreased or increased recently?

• 46% of homes have had their prices decreased, while 3% have seen price increases.

12. What is the expected trend for home prices in Marco Island?

• Given the stable MAI and current market conditions, prices are expected to remain steady unless there is a significant change in the MAI or market dynamics.

13. How does the average sale price and average days on market compare to other areas?

• The average sale price in Marco Island is high, reflective of the luxury market, and homes are taking longer to sell compared to other areas, with an average of 164 days on the market.

14. Where can I find more information about the Marco Island real estate market?

• For more information, you can contact 239-370-1513 or check real estate websites for the latest updates and market trends.