The Lower Keys real estate markets look mixed compared to the numbers of one year ago. The number of properties actively listed this January was 284. There were 56 properties under contract to be sold with none actually closing during the month. In January 2011, the number of properties actively listed was 285, the number pending was at 46, while the number sold was 7.
The average and median prices of properties sold show shifts from the same month a year ago. According to the January 2012 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 January 2011 was $349,950.00, and in January 2012 the average price dropped to $261,424.33, which is a decrease of 25.3%. The median price of properties sold in January 2011 was $313,750.00, and the median price in January 2012 was $246,666.67, which is a decrease of 21.4%. In January 2011, the average days on the market for properties in the Lower Keys was 233. This number declined slightly to 232 for January 2012.
To break the numbers down into more detail: There were 11 single-family homes sold in the Lower Keys during January 2012, and the number sold in January 2011 was 5. There was a single sale of condos/townhomes in the Lower Keys during January 2012 and none in January 2011. The number of other properties (duplex, multi-units, and mobile homes) sold in the Lower Keys was 1 in January 2012 compared to 2 last year.
The average price of single-family homes sold in the Lower Keys during January 2012 was $379,273.00, which was a 28.1% decrease from one year ago. The median price of $335,000.00 in January 2012 was a decrease of 26.4% from the $455,000.00 median price in January 2011. There were no condo/townhomes sold in January 2012. The average price of the 1 other property sold in January 2012 was $261,424.33, and the median price was $246,666.67.
There were 173 active listings of single-family homes for sale in the Lower Keys this January. The active listings also included 11 listings for condos/townhomes and 100 listings for other properties. Of the total 284 properties listed, 56 properties were contingent or pending at the time of the report, and none actually closed. One year ago there were 168 active listings for single-family homes, 20 for condos/townhomes, and 97 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.
Check out 365 Things To Do In Key West and share the link with your friends!