Thursday, May 26, 2016 / by Lela Ashkarian
Click HERE to find the Market Statistics for Keys Wide Properties
The uptrend in sales we have been seeing Keys-wide since 2009 has come to a halt with the number of sales down in all areas of the Keys for the first quarter of this year. The Middle Keys had the smallest decline, down 18% from the last year, while Keys-Wide saw a 23% reduction in number of sales.
The Middle Keys average sale price at $1,662,87 enjoyed a 49% increase over last year however this number is for all property type and is skewed by a 21% decrease in lot sales coupled with a 25% increase in homes selling over $1,000,000
Click HERE to See what's happening nationwide As explained in the enclosed newsletter, many markets in the country are experiencing a slow down in sales with resort home markets down 18% nationally. The global economy and the upcoming election are most likely causing buyers to be hesitant with discretionary spending. Our prices have risen steadily over the past few years causing many buyers to be price out of the market. On the positive note, interest rates remain historically low.
Coldwell Banker continues to lead the market in the Middle Keys selling twice as many of our seller's property than the #2 company and participating in 32% of all sales.
I hope this information is useful to you. If you would like further information please give me acall at 305-395-0814 or email me at email@example.com
Lela Ashkarian, ABR, CRS, GRI, e-PRO