July Active Inventory and Closed Sales Analysis

Hello everyone! July has come and gone, and a relaxed Summer continues into August on Marco Island. As we always point out, the market also has an affinity for relaxation during this time, and this year's iteration appears to continue this trend even further. Let's check out the numbers for July and dish out more details!

Current Inventory

Our current inventory between single-family homes, condominiums, and lots sits at 519, which amounts to about a 4% decrease. This  decrease, as always, can be attributed to a number of different factors. Some of these factors include:

• Sales from the busy season finally being reflected in the numbers, as the closing process takes time from start to finish
• Sellers deciding to take their property off the market during the quieter off-season
• Sales also do indeed occur during the off-season, with younger families reflecting a common buyer type. 

Closed Sales

As previously stated, the closed sales data reflects the relaxed state of our market. Average price and days on market demonstrate this fact best of all; compared to last July, average prices have dipped (although vacant lots have increased), and days on market have climbed. How will August fare then? Only time will tell, but with season still a couple months out and economic and political conditions leaving buyers and sellers wondering, the market of relaxation may continue a little while longer.