November
picked up in home sales compared to a year ago. The total number of listings sold
in Key West for the month was 35. This is up from the same time last year when
31 listings were sold. When compared to last year’s sales, the average price of
a single family home went up as well, by 14.7 percent. The average price of all
types of residential sales increased by 10.5 percent compared to a year ago. The
Lower Keys saw a small drop in the number of sales, down from 21 in 2014 to 20
this year. The average price of single family homes went down as well, a bit
more significant at 22.9 percent less than compared to the year before. All
properties overall in the lower Keys were also down in average price, by 9.9
percent. With the Key West area already seeing an increase in sales from
October, and the small difference in the number of homes sold in the Lower
Keys, our market is holding steady for the end of the year push.
Key West Area Selling Price
Looking at the Median prices of
homes sold in Key West for November, there was also an increase in figures, up
14.9 percent for all properties compared to November 2014. Condo & Townhome
sales were the big winners for the month with an increase in median pricing, up
9.4 percent, while single family homes were up 1.3 percent. The average days on
the market held steady at 99 days for November compared to last year at the
same time. In the Lower Keys, the median selling price for all types of
property was also higher, up a bit at 1.8 percent from the year before. But single
family homes saw a decrease in median prices, down 5.1 percent. The growth that
was seen in median prices was centered on other types of property such as
multi-family units. The days on the market for the Lower Keys went up a bit for
the month, increasing from 129 days in 2014 up to 134 this year. 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 2015
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 KeyWest Real Estate:
305-776-0585.
Labels: jimmy lane, key west, Lower Keys, Monthly Market Stats Report
