From the Marco Island Board of Realtors:
During the month of April, 131 total properties closed for a total of $66 million (including time-shares and commercial properties). This made for the biggest sales month unit-wise since March 2005 when 131 sales were equaled.
Specifically, 50 single-family homes sold for $34.3 million with an average sale price of $686,000, 60 condominiums sold for $25.5 million with an average sale price of $425,000 and 18 vacant home-sites sold for $5.3 million with an average sale price of $297,000.
There were 67 total properties that went under contract in April, 17 single-family homes, 36 condominiums and 13 vacant home-sites. As for inventory of what is currently on the market, there are 347 single-family homes, 597 condominiums and 303 vacant home-sites.
Sales continue to be fueled by the fact that the benchmark 30 year mortgage rate hit a record low of 3.84%. The majority of the current buyers appear to be end-users rather than investors.