The Key West Real Estate market continued to strengthen during the month of May 2010. There were 34 residential Key West sales, 25% more than May 2009. Maybe more important is that the average Key West residential sales price was $487,000, 19% higher than the same month for the previous year. Median Key West residential price was $444,000, over 34% higher than May of 2009. For Key West single family homes, the average sales price is $640,000 and the median Key West home price is $605,000. In my opinion, this is because the lower end of the market is now appreciating as the inventory dries up. The Key West Real Estate market now has only 532 residential listings as of 6-1-2010.
Year to date for 2010 in the Key West Real estate market shows that the number of listings sold is up over 57% over the same period last year. We have had more than 206 residential real estate closings so far this year. 2009 sales were up 22% over 2008 so the market is gaining steam.
Broker-Associate, REALTOR®
Sales Manager, Schwartz Property Sales
2008 & 2009 Company Top Producer
2008 President, Key West Association of Realtors®
2007 Realtor® of the Year
305-766-0585 Cell
800-731-7706 Toll Free
305-293-1973 Fax
www.JimmyLane.com
