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Florida Keys Real Estate Market Condition 305-395-0814

Monday, February 03, 2014   /   by Lela Ashkarian

Florida Keys Real Estate Market Condition 305-395-0814

Florida Keys Real Estate Market

 

The Florida Keys Real Estate Market

  • # Of Sales increased 16% to 2,601
  • Average sales price increased 6% to $443,000
  • Dollar value of sales increased 23% to $1.15 billion
  • The sale price to list price ratio increased to 83% of original list price and 92% of final list price leaving a 17% margin from original list price to an 8% margin from final list price.
  • Average days on market fell 7% to 247 days.
  • Pending sales increased 21% to 2,681- the highest level recorded.
  • The number of properties listed for sale declined by 12% to 2,772.
  • Only 6% of all listed properties and 4% of all sales in the 4th quarter were distressed.

 

 The Coldwell Banker Schmitt (CBSREC) Company:     #1 Keyswide

 

  • o CBSREC sales increased 19% to 23.7% of all sales Keyswide
  • o CBSREC dollar volume of sales increased 20.5% to $482 million
  • o CBSREC listing market share increased to 26% of all listings Keyswide
  • o #1 company for sales of $1 million properties from 2008-2013 with 18% market share.

 

 

 

  • o 4 CBSREC Offices outside of Key West
    • § #1 Overall
    • § One third of the listings, 28% of the sales and 26.5% of the dollar volume of sales, more than next 3 companies who have a combined total of 9 offices.

 

  • o Middle Keys: #1 Office in the Market
    • § Over ½ of all listings
    • § 37.5% of all sales
    • § 34.1% of the dollar volume

    • o Lower Keys:  #1 Office in the Market
      • § Over 1/3 of all listings
      • § 36% of all sales
      • § 38% of the dollar volume

 

  • o Key West:      #1 Office-Number of Sales in Key West  
    • § 8.7% of all listings
    • § 13.1% of all sales
    • § 11.0% of the dollar volume

 

  • o Upper Keys    #2 – (Soon to be #1 again)
    • § 18.2% of all listings
    • § 16.8% of all sales
    • § 16.4% of the dollar volume

**Number 1 company is combined Century 21, Prudential & Better Homes and Gardens, which continues to lose market share since mergers 3 years ago as we continue to increase.