Key West and Lower Keys Market Stats for June 2014

The total number of listings sold in Key West in the month of June was 49. This is up 19.5 percent from the same time last year when 41 listings sold. When compared to last year’s sales, the average listing price of a single family home is up 17.8 percent higher than last year. The median selling price for a single family home has remained the same compared to 2013. In the Lower Keys, the total number of listings sold in June was 19, down 32.1 percent from what sold the same time last year, which were 28 units. There was a decrease of 16.6 percent in average list prices for single family homes, with median sales of single family homes decreasing 19.8 percent lower compared to June 2013. Taking both areas into account, this summer appears to be starting slower than last year. The greatest increase was seen in Key West single family homes with a 64.7 percent increase in sales compared to 2013, helping to keep the total sales impact for the area even or only slightly less compared to last year.

Key West Area Selling Price

Looking at the real estate market analysis between June 2013 and June 2014 for both areas, Median Sales Prices are lower, with Key West Median prices for all sales dropping 4.9 percent and in the lower Keys, there was a drop of 14.4 percent in the Median selling price. The best news for both areas is that the number of days a house is on the market has decreased compared to last year. Key West saw on average for all listings, a drop from 203 days down to 174 days. In the Lower Keys, the number of days for all listings went down significantly from 252 down to 134 days. Overall, the market in Key West has slowed a bit for this summer, but still holds 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.