The total number of listings sold in Key West in the month of May was 57.
This is down 8.1 percent from the same time last year when 62 listings sold.
When compared to last year’s sales, the average listing price of a single
family home is up an 18.9 percent higher than last year. The median selling
price for single family homes has gone up as well 12.6 percent. In the Lower
Keys, the total number of listings sold in May was 24, down 11.1 percent from
what sold the same time last year, which were 27 units. There was a decrease of
8.1 percent in average list prices for single family homes with median sales of
single family homes decreasing 2.8 percent lower compared to May 2013. Taking
both areas into account, the biggest increase in sales occurred with condos and
town homes, increasing 26.1 percent in sales in Key West and 100 percent in the
lower keys. In May of 2013 there were no
condo/townhouse sales in the lower keys, May 2014 saw two sales. Overall however there were fewer sales in May
of this year compared to the year before.
Key West
Area Selling Price
Looking at the real estate market analysis between May
2013 and May 2014 for both areas, Median Sales Prices are still on the
rise. In the lower Keys, there was a significant increase in Median prices, at
53.4 percent overall compared to Key West which came in with a 6.2 percent
increase. In the lower Keys the Median selling price decreased for single family
homes, down 2.8 percent. In Key West there was an increase in the Median
selling price for single family homes, up 12.6 percent. There has been some
fluctuation on the number of days a house is on the market in both areas as
well. Key West saw less days on the market for listings. Single family houses
went from 150 days on the market in May2013 down to 135 days, in May 2014. In
the Lower Keys, the number of days for single family units on the market went
down as well from 192 up to 144 days. Overall, the market in Key West remains steady.
Other markets will continue to see large upswings and downtimes based on the
weather but in Key West, we avoid many of those restrictions. Our climate is
steady and will continue to draw buyers to our area year round.
Key
West Area Total Listings Sold 2014 Compared To 2013
Whether you are a
tourist or looking to make a permanent change to the Keys, there are many
reasons to move to our beautiful area. If you would like more information on
the real estate in this amazing area, contact me,
Jimmy Lane, at
Key West Real Estate: 305-776-0585.
Labels: jimmy lane, Key West Market Stats
