In February the numbers were really looking up for the real estate market here in Key West and in the Lower Keys, and last month’s statistics are even better than in February. The market is really much better than last year, and combined with the spring sales boom, these two factors were a recipe for an increase in home sales. In comparison to last year, I’m excited to see a 97% increase in total homes sold for March 2013. That is really significant and wonderful, and it solidifies my confidence in a much better year for home buying and selling. For actual numbers, be sure to check out the graphs. Not only are more homes being sold, the average selling price of both single family and townhomes/condos increased by a total of 29%. This is a really good indicator of a growing market in association with the number of homes sold. Overall the median home selling price increased significantly as well by 15%
In the Lower Keys, all stats have increased since last year. Total listings sold increased by 6%. Important to note here is that while the number of single family listings sold increased by 44%, the number of condos/townhomes sold stayed the same and there was a 50% decrease in the number of “other” types of homes sold, going from 6 to 3. These individual indicators grossly affect the number of homes sold. Average selling price and median selling price in the Lower Keys increased by 54% and 53% respectively.
We’re nearly halfway through the year and the market is really looking good. Let’s stay positive about the remainder of the year! And remember... Whether you’re a tourist, looking to move permanently to the Keys, or just someone who likes the beauty of nature, the great variety of amenities in the homes in our area are just more reason to want to live in beautiful Key West. If you’re interested in real estate in this attractive area contact me, Jimmy Lane, at Key West Real Estate: 305-766-0585.