Florida Keys Real Estate Blog

According to the statistics found on the Florida Keys Board of Realtors MLS as of today, there are currently 33 active listings of single family waterfront homes in the Upper Florida Keys that range in price from $299,000 to a high price of $3,600,000 with an average list price of $1,372,000.

There are currently 18 properties under contract ranging in price from $249,900 to $3,400,000 and an average list price of $1,183,883.  These properties have been on the market an average of 306 days. 

The last sale recorded was today, January 25, 2012, for the property located at 161 Venetian Drive in Lower Matecumbe which has 2,864 square feet of living area with 3 bedrooms and 2 baths. The original list price for this property was $649,000 which was reduced to $575,000 and the property sold for $555,000 after 288 days on the market.

There have been 5 sales of single family waterfront homes in total in the Upper Keys between January 1, 2012 and January 25, 2012. These sales ranged in price between $555,000 and $1,425,000 with an average sale price of $883,400. The list prices ranged from a low of $575,000 to $1,675,000 with an average list price of $1,013,000. The average number of days on the market was 524.

Please contact me for more information on the Florida Keys real estate market.  I am here to help, offering personalized service with professional results.

Venetian Shores is a subdivision located at mile marker 86 on the Bayside in Islamorada, FL. During 2011, 16 single family waterfront homes in this subdivision sold.  There are a few different types of waterfront properties in this subdivision - Plugged Canalfront which has no access out to the bay but can be used to kayak and canoe; Canalfront which has access out to the bay and Snake Creek to the ocean; and open bayfront and open Snake Creek front properties. 

Here is a breakdown of where these homes were located: (1) on Venetian Way - plugged canalfront; (3) on Villabella Drive; (2) on Venetian Blvd; (1) on Valencia; (1) on Stromboli; (1) on Giardino; (3) on San Juan - plugged canalfront; (1) on Leoni; (1) on Gulfside and (2) on Severino.

The low list price on a plugged canalfront property was $419,900 with a sale price of $417,000.  The high list price on a plugged canalfront property was $675,000 with a sale price of $615,000.  The average list price of a plugged canalfront property was $579,975 with a sale price of $543,000.

The low list price on a canalfront property was $689,000 with a sale price of $670,000.  The high list price on a canalfront property was $2,250,000 with a sale price of $1,910,000.  The average list price of a canalfront property was $1,190,083 with a sale price of $1,017,250.

Stay tuned for more recaps of the 2011 real estate market in the Upper Florida Keys coming in the next few days.

The real estate market in the Florida Keys showed signs of improvement in 2011.  The Multiple Listing Service showed 533 sales in the Upper Florida Keys (Key Largo to Islamorada) from January 1st to December 31st, 2011.  Here is a quick breakdown in some of the available categories:

185 Single Family Waterfront Homes / 145 Single Family Non-Waterfront Homes / 129 Condominium / Townhouse Units / 5 Duplex / Half Duplex Units / 32 Waterfront Mobile Homes  / 35 Non-Waterfront Mobile Homes.

For Single Family Waterfront Homes in the Upper Keys, the Average List Price was $844,149 with an average Sale Price of $747,280, which was 90% of the Average List Price after the property was on the market for an average of 275 days.

For Single Family Non-Waterfront Homes in the Upper Keys, the Average List Price was $256,690 with an average Sale Price of $236,889 which was 93% of the Average List Price after the property was on the market for an average of 228 days. 

Stay tuned for more recaps of the 2011 real estate market in the Upper Florida Keys coming in the next few days.

Enjoy today!

Things are heating up in the Upper Florid Keys real estate market.  For the month of June 2011, in the Upper Florida Keys, comparing June 1 to 30, 2011 to the same time period in 2010, here’s how it broke down:

·         15 Non-Waterfront Single Family Homes sold   

o   Islamorada had 1 sale this year compared to no sales in 2010

o   Tavernier had 5 sales this year compared to 5 sales in 2010

o   Key Largo had 9 sales this year compared to 11 sales in 2010 

·         27 Waterfront Single Family Homes sold

o   Islamorada had 13 sales this year compared to 5 sales in 2010

o   Tavernier had 8 sales this year compared to 5 sales in 2010

o   Key Largo had 6 sales this year compared to 8 sales in 2010 

·         9 Condominium / Townhouse Units sold

o   Islamorada had 0 sales this year compared to 4 sales in 2010

o   Tavernier had 2 sales this year compared to 1 sale in 2010

o   Key Largo had 7 sales this year compared to 5 sales in 2010

·         Price points for the single family homes that sold in June 2011

o   $0 to $249,999 = 10 Sales

o   $250K to $499,999 = 11 Sales

o   $500K to $749,999 = 10 Sales

o   $750K to $999,999 = 3 Sales

o   $1M to $1,499,999 = 6 Sales

o   $1.5M to $2M = 2 Sales

There are currently 180 single family non-waterfront homes for sale in the Upper Keys – 34 are located in Islamorada, 54 in Tavernier and 92 in Key Largo. 8 of the 180 are bank owned properties, 43 are potential short sales and 36 are currently under contract pending sale ranging in price between $90,000 and $599,000 with an average list price of $265,600. 

There are currently 364 single family waterfront homes for sale in the Upper Keys – 159 are located in Islamorada, 65 in Tavernier and 140 in Key Largo.  7 of the 159 are bank owned properties, 35 are potential short sales and 27 are currently under contract pending sale ranging in price between $249,000 and $3,400,000 with an average list price of $934,198.

For additional information on properties that are available in the Florida Keys that meet your personal criteria or if you are considering selling your home, please call me.  I am here to help, offering you personalized service with professional results.   

The weather is not the only thing starting to simmer in the Florida Keys; the real estate market is too!

During the 1st Quarter of 2011, sales were up 20% (515), the sale price to original list price was up 7% (74.6%), the sale price to final list price had no change (90.80%) and the average sale price was up 1% ($400K).

On the listing side, the number of properties listed for sale was down 4% (3,650), the months of inventory, which represents the number of months it would take to sell the existing listings on the market, was down 20% (21 months), and the average list price was down 11% ($730K).

What's in store for the Florida Keys? The number of properties under contract and pending sale were up 27% (716). According to my Broker, Brian Schmitt, "Pending sales are now at their all-time high since the second quarter of 2004, which together with the declining listing curve indicates a very active 2nd Quarter and beyond". 

For additional information on the Florida Keys Real Estate Market, please click on the following link to view the Spring Edition of Tropical Breezes Newsletter. 

And remember, if you or someone you know is looking to buy, rent or sell a property in the Florida Keys, please contact me at (305) 394-2500.  I am here to help, offering personalized service with professional results!

 Spring 2011 Tropical Breezes.pdf