During the month of December 2011, there were 438 properties actively listed in the Key West real estate market. Of these properties, 121 were contingent or pending on the last day of the month, and 48 properties had been sold. One year ago, during the month of December, the number of active listings was 516, the number of properties contingent or pending was 141, and the number sold was 37.
The Key West real estate market shows a positive trend when comparing the first eleven months of 2011 to the first eleven months of 2010. The number of active listings has decreased in the past month while the number of sales has increased. The average selling price decreased, and the median selling price increased in 2011.
The average price of properties has decreased but the median prices of properties sold this December were higher than a year ago. According to the December 2011 Key West Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price for all properties sold in Key West in December 2010 was $414,208.67, and in December 2011 the average price increased to $451,581.67. The median price of properties sold in December 2010 was $353,583.33 and increased to a median price in December 2011 of $363,333.33.
To break the number of sales down into more detail: The number of single family homes sold in Key West during December 2011 was 216 and in December 2010 was 220. The number of condos/townhomes sold in Key West in December 2011 was 193, compared to 183 last December. There were 27 other properties (duplexes and multi-family) sold in Key West during December 2011, and 23 other properties sold in December 2010.
As the graphs comparing sales from January to December show, now is the perfect time for buyers and sellers to take advantage of this market! I'm ready to assist with my knowledge of Key West and my extensive real estate experience. Give me a call today. Jimmy Lane: 305-766-0585 or contact me online at http://www.jimmylane.com.
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