If you are a numbers type of person we think you will like this week's blog! It is filled with numbers and stats that we have been put together by our Broker - Brian Schmitt and our General Manager - Ed Anderson and are based on the numbers that have come from the Florida Keys Board of Realtors Multiple Listing Service. The following numbers are for the Upper Keys (Lower Matecumbe - MM74 to Key Largo - MM106) only. The following numbers are based on the time period of January 1, 2008 to May 31, 2008 as compared to January 1, 2007 to May 31, 2007 for the Upper Keys Real Estate Market only:
There have been 153 sales in 2008 as compared to 203 sales in 2007. This is a 24.6% decrease in the number of sales.
The average sale price was $662,373 as compared to $781,954 in 2007. This is a 15.3% decrease in the sale price.
The Average Number of Days on the Market for a property to sell was 226 as compared to 242 in 2007. This is a 6.6% decrease in the number of days it took to sell a property.
There are 772 New Listings that have come on the market as compared to 918 in 2007. This is a 15.9% decrease in the number of new listings from January 1 to May 31st.
There are 1,567 Listings on the Market as compared to 1,559 in 2007. This is a 0.5% increase of listings on the market to sell.
We currently have 51 Months of Inventory on the market to sell as compared to 38 months in 2007 during this same time period. This is a 34.2% increase in months of inventory.
So, in a nutshell, there have been 24% less sales at an 15% lower average sale price with 6% less days on the market to sell a home in 2008 as compared to 2007. There are 15% less new listings that have come on the market at a 4.5% lower average listing price. And there is a 34% increase in the months of inventory on the market to sell.
If you would like a copy of the complete statistics for all of the Florida Keys, just email us and we will be happy to provide them to you.
Anyway you look at it - it's a GREAT time to BUY a home in the Florida Keys. There is a lot of inventory and some great deals to choose from.
TIS THE SEASON
HURRICANE SEASON 2008
ARE YOU PREPARED?
It is a fact of living in paradise, you do have to put up with some inconveniences sometimes. To make sure that you are prepared for this hurricane season which began June 1st and runs through November, we suggest you visit the National Weather Service National Hurricane Center website to learn about hurricane hazards and what you can do to help protect yourself, your family, and your property.
After experiencing a number of Hurricanes and near misses in the past decade we remain focused on planning for each Hurricane season. You are encouraged to do the same. When a Hurricane threatens the Keys, everyone is very busy preparing their own business and residential properties. Finding someone to secure a property on short notice is most difficult and expensive. Our advice is to plan ahead!
Valuable lessons everyone learned from previous years are:
a. Install storm shutters early as shuttered buildings do a much better job of surviving a hurricane.
b. Store all outside furniture and objects that could become projectiles in the strong winds.
c. Turn off all appliances and empty the refrigerator and freezer.
d. Prepare for being without water and electricity for days, if not weeks after the storm, i.e., battery-powered lights, generator, canned foods, coolers, etc.
e. Encourage evacuation.
Call if you need assistance in locating names of individuals who install and/or put up shutters and secure properties.
And finally, ask your Insurance Agent if you are receiving all of the windstorm insurance mitigation credits that are available to you. You may be able to save on your windstorm premium by having a Uniform Mitigation Inspection done for your property. CALL US! As a State Licensed General Contractor, David can do your inspection and will forward a copy to your insurance agent for you.
*Please understand that Coldwell Banker Schmitt Real Eestate Company in no way endorses or warrantees the work of anyone.*
This past Memorial Day weekend was one of the busiest in recent history. This is a good thing for our economy here in the Keys, but it wasn't so good for our waters.
The weekend after Memorial Day our family went to the Sandbar to relax, but when we jumped off the boat into the water, we hit bottles - and cans, and cups, and bags and, and, and! There was garbage everywhere on the sandbar that had been left by the previous weekend guests.
My kids and their friends were great! They jumped in and started collecting the bottles and cans and stuff and putting them in plastic bags that we had on our boat. We put the bags on the boat and brought them ashore with us where we put them into the recycle bins and garbage cans.
We would ask anyone who comes to the Keys to stay and enjoy themselves, but please take your garbage with you and put it in the proper bins so everyone can continue to enjoy the beautiful waters of the Florida Keys!
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All information provided on this site is deemed reliable but is not guaranteed.
