Florida Keys Real Estate Blog

Here's a quick update of the Real Estate Market in the Florida Keys for January to October 31, 2010 as compared to the same time period in 2009.

In the Upper Keys there were 410 sales, which is a 17% increase over the same time period in 2009. Keys-wide there were 1,502 sales which is a 17% increase over 2009.

The Keys-wide Dollar Value of All Sales is up 4% to $616.9M from 2009 and in the Upper Keys the Dollar Value of All Sales is down 4% to $170.5M. The Average Sales Price is $410,000 Keys-wide and $415,000 in the Upper Keys.

The "Final Sales Price to Original List Price" for the Keys-wide market is 69.50% which is a 7% increase. In the Upper Keys the Final Sales Price to Original List Price was up 5% to 74.32%.

On average it took 243 days Keys-wide to sell a property which was a 2% increase in time to sell. In the Upper Keys it took on average 271 days to sell which was a 2% decrease over the same time last year.

The number of listings is 3,809 Keys-wide with 1,294 listings in the Upper Keys area. This is an increase of 4% Keys-wide and there was no change in the Upper Keys.

The average list price Keys-wide as of October 31,2010 was $747,000 which is a decrease of 18% from last year and $762,000 in the Upper Keys, which is a decrease of 21% over last year.

Months of Inventory (MOI), which is a measure of how many months it would take to sell the existing inventory, is at 25 months Keys-wide which is down 11% from the same time period in 2009. The MOI for the Upper Keys is at 32 months which is down 15% from 2009.