[[posterous-content:pid___0]]The Lower Keys real estate market shows an improvement over the numbers one year ago. The number of properties actively listed this September was 269, and the number sold by the end of the month was 18. In September 2010, the number of properties actively listed was 326, and the number sold was 8. So, with 57 fewer properties listed this September, the sales were more than double the number in 2010.
The average and median prices of properties sold show both increases and decreases from the same month a year ago. According to the September 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 September 2010 was $305,183.33, and in September 2011 the average price was $361,698.67, which is an increase of 18.5%. The median price of properties sold in September 2010 was $366,183.33, and the median price in September 2011 was $305,000.00, which is a decrease of 16.7%. In September 2010 the average days on the market for properties in the Lower Keys was 212. This number dropped to 131 for September 2011.
To break the numbers down into more detail: The number of single-family homes sold in the Lower Keys during September 2011 was 14, and the number sold in September 2010 was 5. The number of condos/townhomes sold in the Lower Keys during September 2011 was 1 compared to 2 last year. The number of other properties (duplex, multi-units, and mobile homes) sold in the Lower Keys was 3 in September 2011 compared to 1 last year.
The average price of single-family homes sold in the Lower Keys during September 2011 was $601,429.00, which was a 1.7% % decrease from one year ago. The median price of $470,000.00 in September 2011, was a decrease of 40.9% from the $795,000.00 median price in September 2010. Only one condo/townhome was sold in September 2011 for a price of $325,000.00. The average price of the 3 other properties sold in September 2011 was $158,667.00, and the median price was $120,000.00
There were 154 active listings of single-family homes for sale in the Lower Keys this September. The active listings also included 12 listings for condos/townhomes, and 103 listings for other properties. Of the total 269 properties listed; 43 properties were contingent or pending at the time of the report and 18 properties were sold. One year ago there were 190 active listings for single-family homes, 17 for condos/townhomes, and 119 for other properties.
The real estate numbers are good for the Lower Keys and life is 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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Labels: Big Pine Key, Cudjoe Key, Key West Real Estate Market, Lower Keys real estate, Summerland Key