Upper Keys Trend Analysis:
The Upper Keys are classified as Key Largo down to Lower Matecumbe. Sales Totals have slowed alittle in the Third Quarter from 39% to 18% and it's taken 1% less time to do that. Average sales price has dropped to 16% less which is up 5% over the second quarter, now $417,000. We were loosing 1%+ per month. Pending Transactions still on the rise, up 19% while new listings have only increased by 2%. A drop of 8% from last quarter. Listings on the market in this area have seemed to stabilize; yet our monthly inventory supply for this area has continued to drop and is at 31%. The average list price for a home in this area is currently $766,000.00 down 12% over last year this time.
Middle Keys Trend Analysis:
The Middle Keys are classified as Long Key down to the 7 Mile Bridge in Marathon.Sales Totals continue to amaze all of us as they continue to stay up 44% over last year, and this is during the slowest part of the year. Average sale price is still up by 1%. Our Sales Volume has climbed in this area from 64 Million to 109 Million Dollars in one Quarter. Listings are up by 2%. Having said that, our Months of inventory on the market continues to fall through the floor, still dropping by 33%. The average list price for a home in this area is currently $709,000 down 14%
The Middle Keys are classified as Long Key down to the 7 Mile Bridge in Marathon.Sales Totals continue to amaze all of us as they continue to stay up 44% over last year, and this is during the slowest part of the year. Average sale price is still up by 1%. Our Sales Volume has climbed in this area from 64 Million to 109 Million Dollars in one Quarter. Listings are up by 2%. Having said that, our Months of inventory on the market continues to fall through the floor, still dropping by 33%. The average list price for a home in this area is currently $709,000 down 14%
Lower Keys Trend Analysis:
The Lower Keys are classified as Big Pine Key to Bay Point. Sales Totals are still up 7%. The value continues to decline in this area to 11%, slowing by 4%. The average sales price continuing to drop by 17%. The average time to sell has finally starter to creep down by 1%. listings in this area continue to slip up a notch to 40%, last quarter was 22%. Amazingly enough our Months of inventory for this area is still 4% The average list price for a home in this area is currently $613,000.
The Lower Keys are classified as Big Pine Key to Bay Point. Sales Totals are still up 7%. The value continues to decline in this area to 11%, slowing by 4%. The average sales price continuing to drop by 17%. The average time to sell has finally starter to creep down by 1%. listings in this area continue to slip up a notch to 40%, last quarter was 22%. Amazingly enough our Months of inventory for this area is still 4% The average list price for a home in this area is currently $613,000.
Key West Market Trend:
Key West is considered a Destination Resort Island. Sales Totals are still up 14%, this is huge, as they continue to climb over the first quarter. There volume value has risen 4% to almost 196 Million for this area and has taken a 27% change, actually taken less time to achieve this. Average sale price has decreased a little more to 8%, but pending transactions have increase almost 12% a 6% increase over last quarter. New listings have dropped by 2% while our months of inventory continue down 13% over last year. The average list price for a home in this area is $859,000.00 down 14%.
Key West is considered a Destination Resort Island. Sales Totals are still up 14%, this is huge, as they continue to climb over the first quarter. There volume value has risen 4% to almost 196 Million for this area and has taken a 27% change, actually taken less time to achieve this. Average sale price has decreased a little more to 8%, but pending transactions have increase almost 12% a 6% increase over last quarter. New listings have dropped by 2% while our months of inventory continue down 13% over last year. The average list price for a home in this area is $859,000.00 down 14%.
Florida Keys Overview Keys Wide:Looking at the Florida Keys as a whole the total # of sales is up 18% and continued to increase over the first quarter, and typically we are in our slower time of year. 1,374 units have sold with a value of over 563 Million Dollars up 5%; while are average time to do that is only up 2%, decreasing by over 5% from last quarter. Our average sales price has decreased to 11% to $410,000.00. Pending transactions still continue to rise by 16% @ 1,477 units. Simply put, thru June first we are CLOSING 8.88 properties every day this is up from 4.32 units in the second quarter. New properties coming on the market have slightly increased by 6% giving us a total inventory of 3,811 Units, down slightly. Our Months of Inventory at our current sales rate is down to 25, dropping 10%. The average list price for a home Keys Wide is $751,000.00 down 13%
This information was gathered directly from our M.L.S. and shared by my good friends at cbsre; In an effort to keep all prospective buyers up to date, to help them make the best informed decision possible when they decide to purchase. For the latest information on what Real Estate is For Sale in the Florida Keys please stop by www.keyspropertyguy.com, and referrals are alway welcome from fellow real estate agents.
