The total number of listings sold in Key West in the
month of December was 53. This is a significant rise from the same time last
year when 30 listings sold. When compared to last year’s sales, the selling
price of a single family home was up 11.5 percent from last year, and the average
selling price was up 14.2 percent. In the Lower Keys, the total number of
listings sold in December was 22, which is less than what sold the same time
last year, 24 units. There was an 11.6 percent increase in selling prices for
single family homes, with the average selling price listed 37.9% higher compared
to December 2013. Reviewing both areas together, December saw an increase in both
the average selling and median prices for all homes, a great way to end the
year on an upswing.
Key
West Area Selling Price
Looking at
the real estate market analysis between December 2013 and December 2014, Key
West had an increase across all types of sales including single-family homes, condos,
townhomes, and multifamily units. The Lower Keys saw the same number of single-family
homes sold, while less condos, townhomes, and multifamily units were sold
compared to a year ago. Both the increase in sales of housing units overall,
and the increase in sold prices, indicates a growing market for the season. Despite
the marked increase in sales and strong single-family home market, an increase
in the days on the market was noted in Key West. This was most likely due to
the holiday season, which is typical for real estate across the country. Key
West single-family houses went from 100 days on the market in December 2013 up to
128 days in December 2014. In the Lower Keys, the number of days on the market
went from 169 days down to 145 days for a single-family home.
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
