Florida Keys Real Estate Blog

Our Broker, Brian Schmitt, provided us with the following Market Highlights for 2009 at our annual Awards Luncheon last Friday. 

The Keys-wide Dollar Value of All Sales is up 4% reflecting the continued reduction in Average Sales Price from $588,194 on December 31, 2008 to $453,194 one year later.

The "Final Sales Price to Original List Price" for the Keys-wide market is 62.49% which means that sellers on average give up -37.5% of the original asking price to buyers.

The number of listings is below 4,000 for the 8th month in a row for the first time since December 2005 as the aftermath of Wilma in late October of 2005 increased the number of listings dramatically to nearly 4,800 in January 2006.

Months of Inventory (MOI), which is a measure of how many months it would take to sell the existing inventory, is at 28 months, down from a peak of 55 months.

Coldwell Banker Schmitt Real Estate Co (CBSREC) Relative Performance

CBSREC sales are up 38% with CBSREC Agents involved in nearly one of every four transactions Keys-wide.

CBSREC has 3.3 times the dollar volume of the #2 company and 5.3 times that of the #3 Company.

CBSREC listing market share has increased by 34% over the past four years and is 250% higher than the #2 Company. With the best agents and most comprehensive Marketing Program, Coldwell Banker Schmitt agents are able to sell listed properties in half the time of all other Brokers while obtaining almost 12% more for their Sellers.

One-third of the Top 100 Agents in the Florida Keys are Coldwell Banker Schmitt Agents, more than the next 8 companies combined.

More of the Top 25, 50, 75 and 100 Agents are Coldwell Banker Schmitt Agents, more than the next 8 companies combined.

Each of our Offices ranks #1 in Sales in Every Market are in the Keys out of all 260 offices. WE are the number one company for sales in the Upper Keys, Middle Keys, Lower Keys and Key West as well as overall Keys-wide by a large margin.

For more detailed information on the Florida Keys Real Estate Market please contact us.  We will be happy to send you a copy of our Winter Edition of Tropical Breezes our quarterly newsletter, which is filled with complete details of the Florida Keys Real Estate Market. 

This weekend, one of my customers asked me "What would $1 million bucks buy me these days in the Florida Keys"?  So I did some research and here are the results based on the following criteria - Properties that have sold for between $1,000,000 to $1,200,000 since January 1, 2010 from Mile Marker 106 (Key Largo) down to Mile Marker 0 (Key West).

So far there have not been any sales in KEY LARGO that match this criteria.  

However, in ISLAMORADA someone bought a 4 bedroom / 3 bath condo with a little over 2,100 sq ft at the Ocean Harbor Club at mile marker 87.8 on the Oceanside with a 35 ft boat slip in the marina for $1,250,000. Another person bought a 1960's 3 bedroom, 2 bath single family home with 100 ft of sandy beach and panoramic views of the ocean for $1,100,000.  There was also a sale of a brand new (never been lived in) custom built 3 bedroom, 3 bath home in Port Antigua with 75 ft of dock for $1,135,000.

As you head south to CUDJOE KEY at mile marker 23 on the oceanside, a 1984 single family 2 bedroom, 2 bath home with open water views on a half acre private gated compound with an elevated pool and spa just sold for $1,027,000.

And, in KEY WEST, there were 2 sales so far this year that fit this criteria.  The first was a single family 3 bedroom, 3.5 bath home with 1,841 sq ft of living space and a pool in the Casa Marina neighborhood that sold for $1,100,000.  The second one was a 4 bedroom, 2.5 bath  renovated historic home with just over 2,800 sq ft with an open floor plan, with a large master suite with artist studio/office ensuite that sold for $1,100,000. 

If you would like to learn more about these properties, just send me an email at info@BuyInTheKeys.com and I would be happy to send you a link to these properties.  And remember, if you or anyone you know is looking to buy, sell or rent a property in the Florida Keys - CALL ME AT (305) 289-6634.  I am here to help offering personalized service with professional results.