Lower Keys Real Estate Market Report February 2012

The Lower Keys real estate markets are looking good compared to the numbers of one year ago. The number of properties actively listed this February was 285. There were 55 properties under contract to be sold with 13 actually closing during the month. In February 2011, the number of properties actively listed was 285, the number pending was at 54, while the number sold was 23.

The average and median prices of properties sold show shifts from the same month a year ago. According to the February 2012 Lower Keys Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price for all properties sold in the Lower Keys during February 2011 was $372,603.33, and in February 2012 the average price dropped to $248,928.67, which is a decrease of 33.2%. The median price of properties sold in February 2011 was $283,333.33, and the median price in February 2012 was $239,666.67, which is a decrease of 15.4%. In February 2011, the average days on the market for properties in the Lower Keys was 143. This number increased slightly to 148 for February 2012.

To break the numbers down into more detail: There were 7 single-family homes sold in the Lower Keys during February 2012, and the number sold in February 2011 was 9. There was a single sale of condos/townhomes in the Lower Keys during February 2012 and one in February 2011. The number of other properties (duplex, multi-units, and mobile homes) sold in the Lower Keys was 5 in February 2012 compared to 7 last year.

The average price of single-family homes sold in the Lower Keys during February 2012 was $326,786.00, which was a 48.9% decrease from one year ago. The median price of $299,000.00 in February 2012 was a decrease of 23.3% from the $390,000.00 median price in February 2011. There was 1 condo/townhome sold in February 2012 at an average price of $300,000.00 which was an increase of 3.4% over February 2011. The average price of the 5 other properties sold in February 2012 was $120,000.00, and the median price was $120,000.00, which was a 29.4% decrease from 2011.

There were 182 active listings of single-family homes for sale in the Lower Keys this February. The active listings also included 13 listings for condos/townhomes and 102 listings for other properties. Of the total 297 properties listed, 55 properties were contingent or pending at the time of the report, and none actually closed. One year ago there were 170 active listings for single-family homes, 19 for condos/townhomes, and 96 for other properties.

The buyer’s real estate scene and life are good in the Lower Keys! All of this adds up to GOOD reasons for you to consider property in the Lower Keys today. Give me a call. Jimmy Lane: 305-766-0585 or contact me online.

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Key West Real Estate Market Report February 2012

During the month of February 2012, there were 448 properties actively listed in the Key West real estate market. Of these properties, 120 were contingent or pending on the last day of the month, and 33 properties had been sold. One year ago, during the month of December, the number of active listings was 484, the number of properties contingent or pending was 159, and the number sold was 33. 

The Key West real estate market shows a positive trend when comparing the first two months of 2012 to the first two months of 2011. Both the number of active listings and the number of sales has increased. The average selling price increased, as did the median selling price as compared to the same period in 2011.

The average price of properties has increased as has the median prices of properties sold this February as compared to a year ago. According to the February 2012 Key West Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price for all properties sold in Key West in February 2011 was $404,697.33, and in February 2012 the average price increased to $524,728.67. The median price of properties sold in February 2011 was $378,833.33 and increased to a median price in February 2012 of $471,666.67.

To break the number of sales down into more detail: The number of single-family homes sold in Key West during February 2012 was 16 and in February 2011 was 22. The number of condos/townhomes sold in Key West in February 2012 was 15, the same number as last February. There were 2 other properties (duplexes and multi-family) sold in Key West during both February 2012 and in February 2011.

As the graphs comparing sales from January to December show, now is the perfect time for buyers and sellers to take advantage of this market!  I'm ready to assist with my knowledge of Key West and my extensive real estate experience.  Give me a call today.  Jimmy Lane: 305-766-0585 or contact me online at http://www.jimmylane.com

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A History of Our Conch Republic

Picture Courtesy of ConchRepublic.com

For those that don't know the great story of how our Conch Republic was born, check out the following site: http://www.conchrepublic.com/history.htm. It's history worth knowing--especially if you live here!

 

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Florida Keys Ocean Festival Coming March 24

 

The third annual Florida Keys Ocean Festival is almost here! Read on for event information and make plans to attend this great event.

 

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KEY WEST, Florida Keys — The southernmost island chain’s vibrant marine environment is to be celebrated with live music, artistry, kids’ activities, educational exhibits and more during the third annual Florida Keys Ocean Festival, set for noon to 6 p.m. Saturday, March 24.

Presented by Florida-based Mote Marine Laboratory, the event takes place at the Florida Keys Eco-Discovery Center, located on Key West’s Truman Waterfront past the end of Southard Street. Admission and parking are free.

The visitor center for the Florida Keys National Marine Sanctuary, the facility showcases the region’s unique ecosystem including the living coral reef that parallels the Keys. A living reef exhibit created by Mote Marine Laboratory is one of the center’s highlights.

During the Ocean Festival, renowned artist Pasta Pantaleo is to paint a 4–by-8-foot mural with help from kids in attendance. Anticipated to be worth more than $4,000, the completed mural will be auctioned to raise money for Mote Marine’s Protect Our Reefs program, which works to restore Florida Keys reef tracts.

Attendees at the lively festival can enjoy food, soft drinks, beer and cocktails; explore touch tanks, see live animals, bid on items at a silent benefit auction, vie for prizes and listen to live music. Scheduled musical guests are the Nick Norman Band with Caffeine Carl, Scott Kirby and Country Dave Edmisten, and the Riddum Tree featuring Jeff Clark and Randy Morrow.

More than 30 exhibits are to spotlight the Keys’ conservation efforts and the work of nonprofit organizations, and a like number of marine artists, craftspeople and vendors plan to showcase their wares.

In addition, an informative fishing seminar and angling opportunity is scheduled for kids ages 5 to 11. To participate, youngsters must register online at www.keysoceanfest.org. Free rods and reels await the first 100 registrants.

Proceeds from the festival support Mote Marine Laboratory’s coral reef restoration and research programs.

Event information: www.keysoceanfest.org

Key West visitor information: www.fla-keys.com/keywest or 1-800-LAST-KEY

Social: facebook.com/floridakeysandkeywest • twitter.com/thefloridakeys • youtube.com/FloridaKeysTV

 

Source: http://www.newmanpr.com/2012/02/16/family-friendly-florida-keys-ocean-festival-to-celebrate-marine-environment-march-24/

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Country Music at the Studios of Key West

From KeysNet.com, here's some information about a great concert coming up this week.

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Kentucky-born songwriter, musician Darrell Scott brings his country music sound to the Old Town New Folk series at The Studios of Key West Friday, Mar. 9.

Scott, who won Song of The Year from the Americana Music Association in 2007, lives in Nashville, Tenn. His latest album, 'Long Ride Home,' marks his seventh studio album, released in January.

Scott says he was "baptized into country music" at an early age. His father, Wayne Scott, was a country musician best known for his album "This Weary Way," which Bluegrass Works described as redolent "with the ghost of Hank Williams."

After getting his start in the music profession in southern California, Darrell Scott later lived and performed in Toronto and Boston.

Known for his mastery of multiple instruments, Scott works as a popular sideman in Nashville and currently is a member of the Band of Joy with Robert Plant.

He's garnered three Grammy nominations. And his song, "You'll Never Leave Harlan Alive," covered by Brad Paisley, was the closing song played on the FX-series drama "Justified."

His Key West show begins at 8 p.m. Tickets cost $25 in advance; $30 the day of the show. Doors open at 7:15 p.m. and seating is limited.

For more information, call 296-0458 or visit: www.keystix.com.

Source: http://www.keysnet.com/2012/03/02/426123/kentucky-roots-infuse-this-music.html

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Beer, Bourbon and BBQ to Benefit Waterfront Playhous

Picture Courtesy of the Waterfront Playhouse.

It's just around the corner, but there may still be tickets available for this great event to help support the Waterfront Playhouse. For more information and to purchase tickets, go to http://waterfrontplayhouse.org/events/beer-bourbon-and-bbq/.

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Choose Your Favorite Sunset Cruise

Picture Courtesy of BestOnKeyWest.com

If you love sunset cruises, then our island is the place to be. There are options for every taste such as "Commotion on the Ocean," "Wind and Wine" and "Rum and Raggae."

You can see videos and get pricing for some of the best cruise offerings at http://bestonkeywest.com/sunset-cruise.html.  With so many great choices, you'll have to plan to hit them all!

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