Marco Island real estate prices rose over 9% since this time last year while inventories fell significantly, according to The McCarty Group, a leading Marco Island and Naples real estate brokerage.
Marco Island Real Estate Prices Increase 9% Over Past Year
Online PR News – 15-April-2014 – MARCO ISLAND, Fla. – MARCO ISLAND, Fla. - McCarty Group, a leading real estate brokerage serving the Marco Island and Naples markets, says Marco Island home prices have risen over 9% in the first quarter, while inventories have fallen over 11% since this time last year.
According to recently released statistics, The McCarty Group says trends on Marco Island are similar to those seen nationally, as rising interest rates incentivize buyers to act now rather than later.
Mike McCarty says he is pleased to see stability and growth in the Marco Island real estate market as well as homes for sale in Naples.
"Price growth is a positive thing for any region, of course, because it means buyers can expect to build equity in their home or condo faster," he says. "It is also a positive thing for sellers, who prefer to sell into a rising market than a falling one."
However, Wendy McCarty says that falling inventories also means that buyers don't have as many listings to choose from. This means there is more competition from available buyers for fewer homes on the market.
"Supply and demand tend to affect home prices dramatically, so for buyers who want a condo in Marco Island, for instance, they're going to have to compete with other buyers for the homes that are currently on the market" she says.
“People all over the world come to Marco Island and want to move here or invest in our real estate market. We get snow birds from the northeast and Canada wanting to spend time here seasonally, as well as international visitors from Europe who just want a good place to park their money that offers growth and stability."”
Another good indicator, however, is that total sales volume has increased by 30% over the past year. Wendy McCarty believes this says something very positive about the fundamentals behind the price increases.
"If we saw 9% price increases on lower sales volume, I'd see that as a potentially weak indicator. The fact that sales volume rose from $136 million to $177.88 million quarter on quarter gives me a lot of confidence in the resilience and strength of the market here in South Florida," she says.
According to Mike McCarty, what makes the market such a strong one is not just economic factors, but geographic ones.
"People all over the world come to Marco Island and want to move here or invest in our real estate market. We get snow birds from the northeast and Canada wanting to spend time here seasonally, as well as international visitors from Europe who just want a good place to park their money that offers growth and stability," he says.
As the local South Florida home buying season is heating up, the McCartys say that they're excited to provide the latest home buying technology for their buyers.
"We encourage serious buyers to check out our website at http://www.mccartyflorida.com. It's an easy-to-use resource, and Marco Island and Naples home buyers will want to take advantage of it!"
About McCarty Group
The McCartys began their careers in the midwest, where Mike was the owner/broker of the area's highest-performing real estate brokerage, and Wendy was employed by a Fortune 500 company. "We discovered Marco Island and Naples in the mid-1990s, fell in love with both of the communities, with the beautiful real estate, sugar-sand beaches and the warmest tropical climate in the continental U.S. and we moved forward with our first property purchase immediately. After vacationing here for a few years and just after the tragedy of 9/11 occurred, we chose to improve our lifestyle and make sunny Florida our full-time home. Some may believe this area is primarily known as a tourist and retiree destination, however it's actually a wonderful place to raise a family as well!"
Mike has over 25 years experience in the real estate business, holding the top sales position in each market he's worked in from the very beginning of his career. Wendy joined the McCarty Group when their family relocated to Florida. Year after year, the McCarty Group has been in the top 1% of sales accomplishments in the Marco Island and Naples areas.
For more information:
Mike & Wendy McCarty
The McCarty Group
Keller Williams Realty
713 Bald Eagle Dr
Marco Island, FL 34145
877 804-0577 toll free
On The Web
Property Search: http://www.mccartyflorida.com
Google Plus: http://plus.google.com/111514409737736937690/about