The Lower Keys real estate markets are down compared to the numbers of one year ago. The number of properties actively listed this November was 271. There were 53 properties either contingent or pending but zero sold. In November 2010, the number of properties actively listed was 208, and the number sold was 21. So, while there were 63 more properties listed this November, sales were markedly lower the 21 in 2010.
The average and median prices of properties sold show both decreases from the same month a year ago. According to the November 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 November 2010 was $336,464.00, and in November 2011 the average price was $242,450.00, which is a decrease of -27.9%. The median price of properties sold in November 2010 was $251,250.00, and the median price in November 2011 was $227,500.00, which is a decrease of -9.5%. In November 2010 the average days on the market for properties in the Lower Keys was 242. This number climbed to 358 for November 2011.
To break the numbers down into more detail: There were no single-family homes sold in the Lower Keys during November 2011, and the number sold in November 2010 was 14. There were no sales of condos/townhomes in the Lower Keys during either November 2011 or November 2010. The number of other properties (duplex, multi-units, and mobile homes) sold in the Lower Keys was 7 in November 2011 compared to 7 last year.
The average price of single-family homes sold in the Lower Keys during November 2011 was $393,350.00, which was an 18.9 % decrease from one year ago. The median price of $348,500.00 in November 2011, was a decrease of 10.1% from the $387,500.00 median price in November 2010. There was 1 condo/townhome sold in November 2011 for $216,000.00. The average price of the 1 other property sold in November 2011 was $216,000.00, and the median price was $216,000.00.
There were 156 active listings of single-family homes for sale in the Lower Keys this November. The active listings also included 12 listings for condos/townhomes, and 103 listings for other properties. Of the total 271 properties listed; 53 properties were contingent or pending at the time of the report and none were sold. One year ago there were 179 active listings for single-family homes, 18 for condos/townhomes, and 111 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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