Marco Island March Market Update – Josh Bohling - LPT Realty SW FL

🌴 SW Florida March Market Update Marco Island – Josh Bohling - LPT Realty SW FL

March in Southwest Florida marks the heart of our peak season, as perfect weather, bustling activity from "snowbirds," and motivated buyers create a dynamic real estate environment. While national headlines continue to discuss market adjustments, it's important to focus on what's happening locally. Following a period of rapid expansion, the market has found its footing: prices have stabilized, insurance costs have leveled off, and we're seeing more informed buyers navigating a healthier inventory landscape. ☀️🏖️📊

But the local Marco Island numbers paint the true picture...

Marco Island Single-Family Homes

*   Median Sales Price: $1,500,000 (Down 26.8% vs. last year!)
*   Active Inventory: 213 (Down 36.2% vs. last year!)
*   Months Supply of Inventory: 6.7 (Down 38.2% vs. last year!)
*   New Listings: 41 (Down 53.4% vs. last year!)

Takeaway: The Marco Island single-family home market is seeing a massive drop in inventory, median sales price and new listings. With over 36% fewer homes on the market and new listings cut in half, this is a very tight market for buyers but with lower priced homes, it is a great time to buy! 

Marco Island Condos & Townhouses

*   Median Sales Price: $780,000 (Down 17% vs. last year!)
*   Median Sold $/SqFt: $606 (Up 18.8% vs. last year!)
*   Closed Sales: 31 (Up 24.0% vs. last year!)
*   Active Inventory: 390 (Down 15.4% vs. last year!)
*   Months Supply of Inventory: 12.6 (Down 31.8% vs. last year!)

Takeaway: The Marco Island condo market is increasing in activity with many deals to be had for the savvy buyer! The median sold price per square foot is up nearly 19%, and sales are up 24%. With inventory down, if buyers are able to find the right home, there are deals available! Sellers are experiencing a tightening market that is trying to stabilize.

What Does It All Mean?

Marco Island is a seller's market, with low inventory and high demand. The single-family home market is especially tight, while the condo market is seeing strong price appreciation. If you're a property owner on Marco Island, you're in a great position. Buyers need to be ready to act fast in this competitive market.

Josh Bohling REALTOR® | LPT Realty
Cell 239-320-5326
josh@sellmyhouseswfl.com
www.sellmyhouseswfl.com