February 16, 2007

Marco Island | Angler's Cove

Angler's Cove is a great boating community that affords owners the ability to have weekly rentals. There are only a handful of condos on Marco Island that allow the weekly rentals. So usually this condo has been popular with Investors. This is a boating community with boat docks available for the residents here. There are tennis courts, pools and spas dotted in the property. Centrally located on the Island there are shops and restaurants within walking distance.

There are two bedroom and one bedroom units in this complex, some have covered parking and there are some with a cabana which make them more desirable. Not much has happened in this complex lately, so to have two sales already is a great thing. It shows that there are buyers out there! Unfortuantely, it also shows a significant drop in average sales price.

Two Bedroom Units:

  • There are currently 11 for sale with an average list price of $417,600 and they have been on the market an average of 224 days. They range in price from $289,000 to $519,000.
  • There are currently no pending units.
  • There were a total of 3 that closed in 2006 with an average sold price of $475,000 and an average of 164 days on the market.
  • There have been two sales in 2007 to date - average sold price was $246,750 and an average days on the market of 245. I would say there are two very happy purchasers in here and several very unhappy sellers and current owners. This will affect appraisals and explains the huge range in pricing in this category of the market!

One Bedroom Units:

  • There are no pending or solds for 2007. In 2006 there were 8 units sold with an average price of $273,125 and they spent an average of 198 days on the market.
  • Currently there are 25 units available in the one bedroom units at Angler's Cove with an average list price of $330,980 and have been on the market an average of 128 days.
  • Prices range from #224,000 to $519,000.
  • What does this mean? Well I believe that there has been a correction in the market, and now that buyers are purchasing, that we will see prices normalize.

This is an excellent time to purchase a property if you:

  • Are ready to make a long term investment, hold onto for at least 3 years
  • Ready to enjoy the best that Florida has to offer
  • Know what you want and are open to the possibiliites as there are many options right now with the sheer number of listings available.
  • Have your financing in place and ready to go, sometimes the best deals you need to be able to close in a short period of time.

This information is provided by Colleen Kulikowski, Realtor. Colleen writes about the Florida lifestyle on several location:

Celebration Florida Homes BLOG
Paradise Report Website
Marco Island Homes BLOG

(407) 288-0017

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