Monday, February 3, 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.