Everything you Need to Know about Buy and Selling in the FL Keys - By Amy Prumo

Florida Keys Real Estate Market Stats December 2019


Posted: January 09, 2020 by Amy Prumo & Thomas Carden Team


FLORIDA KEYS MARKET STATS - DECEMBER 2019

Be More Awesome than Last Year


Keys Wide Market Stats – All Properties
Overall sales are up 3.2 percent compared to the same time last year.  Looking back at the sales history you can see the Florida Keys Market remains stable.  Although sale price did fall 8 Percent.  As we have mentioned in the past, sellers have been forced to reduce prices in an effort to attract buyers.  In 2019 the average seller had to reduce their price by 9.5 Percent, which also represents the discount that buyers are receiving.  Days on the market remains around 4 months to get a contract.  The number of Listings are down 10 Percent.  When listings are down buyers have fewer choices and there is more urgency.  Remember Seller’s create the market.  Here in the Florida Keys there is an inverse relationship between Listings and Sales.  When Listings go down sales go up.  Listings show the future of what sales will be.

Luxury Market – 1 Million Plus Properties
Luxury Sales are up 8.7 Percent, which is about 30 more transactions than last year.  The number of Listings has slightly dropped keys wide.  The Middle Keys seeing the most significant drop down 11.8 Percent.  Days on the market is 133 days to get a contract.  Pending’s which are future sales are down 46.4 percent keys wide.  Buyers are getting about at 13.5 percent discount off the original list price. 

Coldwell Banker remains the number one company for properties listed and sold across the keys.  Looking from the Lower Keys to the Upper Keys, in the Luxury Market, Coldwell Banker Schmitt had 24.6 Percent transaction sides in 2019, which makes us involved in 1 out of every 4 deals.  The number two company came in at 7.9 transaction sides. Although there are several companies that advertise themselves as Luxury Real Estate Companies, the numbers show they are not!  Coldwell Banker Schmitt remains Number 1 in Luxury since 2004!

FEMA Open House Schedule:
Jan. 28th – Bernstein Park Community Room – Stock Island - 9am to noon
Jan. 28th – Big Pine Community Park -Big Pine - 4pm to 7pm
Jan. 29th – Marathon City Hall – Marathon - 4pm to 7pm
Jan. 30th – Islamorada Community Center – Islamorada 4pm to 7pm

Coming Soon to the MLS – call or email for more information

$1,500,000 – 62900 Overseas Highway – Conch Key – OPEN WATER
Stunning 5 bedroom 4 Bathroom home overlooking the ocean.  Deep clear blue water with excellent boating opportunities.  East winds, no bugs!  Watch the sunrise and the set from your beach home!

499,000 – 407 Calle Limon - Marathon – Dry Lot Home
This is a newer 3 bedroom 2 bathroom modular home.  Excellent neighborhood.
$ 915,000 - 848 East Copa D’oro – Marathon – Waterfront Home
Gorgeous home 2 bedrooms 2 bathrooms, tiki hut, pool, and hot tub!

$995,000 – 11244 3rd Ave Gulf – Marathon – Waterfront
ground level home, 2,600 square feet, 3 bedrooms and 2 bathrooms

Must Sell Situations
$1,828,000
419 121St Street Gulf
Marathon, FL 33050
Active / 586969 

Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrntif5jp%2C6%2C1%2C68343

$140,000
28229 Julia Ave
Little Torch Key, FL 33042
Active / 588881 

Seller is facing foreclosure.  ROGO letter on file.  Bring
offers.  Great piece of property in Little Torch.

Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrnwl8ouu%2C6%2C1%2C42515



Development Opportunity - Seller is on scheduled price drops until this property goes under contract.  Make an offer NOW -

$2,145,000
770 107Th Street Ocean
Marathon, FL 33050
Active / 581862 

-    1.3+ Acres Oceanfront property with 4 building rights! Zoning allows for 6 market rate        units per acre and 15 transient or affordable units per acre.

Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrpxgqruk%2C6%2C1%2C26989



NEW INVENTORY

UPPER KEYS
Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrq0pbdyr%2C6%2C1%2C36901

MIDDLE KEYS

Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrq5knkc5%2C6%2C1%2C34111

LOWER KEYS

Follow this link to see the page:
http://www.flexmls.com/link.html?1iqcrq8oaqzi%2C6%2C1%2C92597



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