Prices of properties sold were fairly level when comparing April 2011 to April 2010. According to the April 2011 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 April 2011 was $414,555.50 and in April 2010 the average price was $319,954 00. However, the median price of properties sold in April 2011 was $282,500.00, and the median price in April 2010 was $289,250.00
To break the numbers down into more detail:
The number of single family homes sold in the Lower Keys during April 2011 was 19 compared to 18 single family homes sold in April 2010. There were no condos or townhouses sold in April of either year. The number of other properties (duplexes and multifamily) sold in the Lower Keys was 3 in April 2011 compared to 7 last year.
The average price of single family homes sold in the Lower Keys during April 2011 was $682,500.00; however, this most likely reflects one or two sales of high-priced homes. The median sales price for April 2011 is $400,000.00, which is a decrease of 6.7% from April 2010.
There were 168 active listings of single family homes for sale in the Lower Keys this April, 21 listings for condos/ townhouses, and 101 listings for other properties. This is 32 fewer properties on the active listings than this time last year which is a great sign! Of the total listed this April, 53 properties were contingent or pending at the time of the report and 22 properties were sold.
Prices and available properties point to a positive market in the Lower Keys and the lifestyle is always positive in the Lower Keys. Give me a call and let’s get started on the next positive move for you. Jimmy Lane: 305-766-0585