The Lower Keys real estate markets looks great compared to the numbers of one year ago. The number of properties actively listed this December was 272. There were 57 properties under contract to be sold with 16 being sold. In December 2010, the number of properties actively listed was 295, and the number sold was only 11. So, while there were 23 fewer properties listed this December, sales were higher than the 11 in 2010.
The average and median prices of properties sold show both increased from the same month a year ago. According to the December 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 December 2010 was $307,148.00, and in December 2011 the average price was $337,896.00, which is an increase of 10.0%. The median price of properties sold in December 2010 was $280,000.00, and the median price in December 2011 was $360,000.00, which is an increase of 28.6%. In December 2010 the average days on the market for properties in the Lower Keys was 99. This number declined to 87 for December 2011.
To break the numbers down into more detail: There were 13 single-family homes sold in the Lower Keys during December 2011, and the number sold in December 2010 was 9. There were no sales of condos/townhomes in the Lower Keys during either December 2011 and 1 in December 2010. The number of other properties (duplex, multi-units, and mobile homes) sold in the Lower Keys was 3 in December 2011 compared to 1 last year.
The average price of single-family homes sold in the Lower Keys during December 2011 was $403,792.00, which was an -21.8 % decrease from one year ago. The median price of $385,000.00 in December 2011 was a decrease of -11.5% from the $435,000.00 median price in December 2010. There were no condos/townhomes sold in December 2011. The average price of the 3 other properties sold in December 2011 was $272,000.00, and the median price was $385,000.00.
There were 161 active listings of single-family homes for sale in the Lower Keys this December. The active listings also included 12 listings for condos/townhomes, and 99 listings for other properties. Of the total 272 properties listed; 57 properties were contingent or pending at the time of the report and 16 were sold. One year ago there were 174 active listings for single-family homes, 18 for condos/townhomes, and 103 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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