Last June the number of properties listed was 324 and the number sold was 13. So, with fewer properties on the market, we are seeing level to higher sales. This is a trend in the right direction for the Lower Keys real estate market!
The average and median prices of Lower Keys properties are very close to those of last year. According to the June 2011 Lower Keys Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price of all properties sold in the Lower Keys in June 2011 was $300,969.67 which showed a decline from the June 2010 average of $358,849.50. However, the June 2011 median price for all properties sold in the Lower Keys was $284,000.00, which was a slight increase over the June 2010 median price of $280,625.00
To break the numbers down into more detail: The number of single-family homes sold in the Lower Keys during June 2011 was 11. This number was exactly the same for June 2010. There was 1 condo/townhome sold in June 2011 and none sold in June 2010. In the month of June for both 2011 and 2010, there were 2 other properties (duplexes and multi-family properties) sold. The median price of all single-family homes sold in June 2011 was $440.000.00.
During the entire year of 2010, there were 167 properties sold in the Lower Keys. Single-family homes made up 119 of this number. The median price of the single-family homes sold was $410,000.00. The number of condo/townhomes sold during the 2010 year was 8 and the median price was $262,500.00
The current real estate market trend for the Lower Keys is encouraging. With fewer active listings, the sales are showing an upward movement and median prices have increased slightly. This is a great time to take advantage of a positive trend in real estate in the Lower Keys, and I have many options to show you. Give me a call today. Jimmy Lane: 305-766-0585.