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Marco Island continues to show signs of growth and long term optimism in the real estate market with an increase in sales of 2.87 percent for a year over year sales comparisons.

Not only is growth occurring on Marco Island, but on July 26, 2007, the Sarasota Herald Tribune reported a 5 percent gain in the market for June home sales in the Bradenton-Sarasota market in comparison to the same month of the previous year.

Some home builders cite that the U.S. economy and employment are strong which is creating pent up demand for home buyers. On Marco Island, most Realtors have experienced the “waiting” buyer. Many “waiting” buyers are missing their opportunity to purchase the beachfront condo or best value home as motivated buyers take the most desirable and best value properties out of inventory.

Furthermore, a recent article in the Washington Post stated that “with prices in many areas at a low ebb, it might make good financial sense for Baby Boomers to buy their retirement homes now.”

Longterm appreciation on Marco Island continues to show promise. Take into consideration a recent home that sold on Marco Island. This tip lot home on Channel Court was built in 1993, offers over 3,100 square feet of living area, and direct access to the Gulf of Mexico. The home sold in September 2000 for $830,000. This same home sold in July 2007 for $1,450,000.

Other factors that bode well for our local market are the 78 million Baby Boomers nearing retirement age looking for a second or destination home in our desirable community, the favorable currency exchange rates for our counterparts from Europe and Canada, and the recent volatility in the stock market.

The Marco Island real estate market experienced an overall growth of 2.87 percent with increases for single family homes of 5.56 percent and condos of 2.54 percent. Lots showed a decrease in sales of 5.66 percent.

For single family homes, water indirect homes showed the largest gain with a 44 percent increase in sales in year over year comparisons. The largest area of sales for water indirect homes can be found in the homes built after 1999 which consists of 41 percent of the sales.

Water direct homes showed a decline in year over year sales with a decrease of 4.68 percent. Of the water direct homes that sold, over 36 percent were built after 1999. For inland homes, there was a decline of 10.1 percent in sales in year over year sales comparisons. Homes that were built after 1999 consisted of 32% of the total inland sales.

If you are planning to buy on Marco Island, consider the growth predictions before you miss the opportunity to own your dream home in paradise.

Look for my next article on the real estate market in two weeks.

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Natalie Kirstein, MBA, Realtor, works for Premier Properties of Southwest Florida, Inc., office (239) 642-2222, toll-free (800) 260-9081, e-mail NatalieK@premiermail.net. Office located in The Esplanade, 760 North Collier Blvd., Ste. 101, Marco Island.