The total number of listings sold in Key West in the month of August was
54. This is down 5.3 percent from the same time last year when 57 listings were
sold. When compared to last year’s sales, the average listing price of a single
family home was up 18.6 percent above last year. The median selling price for a
single family home has gone up as well, 29.4 percent compared to 2013. There
was a large jump in single family home sales going from 24 in 2013 up to 33
this year. In the Lower Keys, the total number of listings sold in August was 20,
down 20 percent from what sold the same time last year, which were 25 units. The
average list price for a single family home went down as well, 13.5 percent for
the Lower Keys. The median sale price of single family homes however, increased
a small amount, by 0.9 percent compared to August 2013. Taking both areas into
account, the end of summer has shown an increase in the number units sold
overall, in particular single family homes; great news for the area.
Key West
Area Selling Price
In reviewing all types of residential real estate sales, an increase
in the average selling price and median selling price was reported. Key West
saw an increase in the average selling price of 3.1 percent from 2013. There
was a 5.7 percent increase to median sales in Key West as well. In the Lower
Keys, there was a larger increase in these figures, with a 17.8 percent
increase in the average selling price, and a 40.5 percent increase to the
median selling price. This is reflective of a sellers’ market for the month. Within
Key West, the number of days a house is on the market has continued
to decrease compared to last year. Key West saw on average for all listings, a
drop from 209 days down to 130 days. In the Lower Keys, the number of days for all
listings was increased from 122 up to 306 days. This large disparity is due to
town homes, condos and other types of residences. Single Family homes in the lower Keys are
selling faster with fewer days on the market, 99 days this August compared to
134 days the year before. 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 down times 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
