July 06, 2010

1st and 2nd Quarter of 2010 compared to 2009

When comparing the 1st and 2nd quarters of 2010 to last year, 2009, there are a few surprises.  Three things about these stats stand out from the rest:

1. Open water homes saw an increase in both number of closed transactions and average sales price
2. A large increase in the number of dry lot homes sold in 2010 than in 2009
3. An increase in closed sales for 2010 in every segment of the residential  market compared to 2009

The reason for the increase in the number of dry lot homes sales is most likely tied to their decline in price and an abundance of inventory.

We're seeing longer marketing periods for some types of properties, mainly open water homes, but overall, the numbers are promising.  Here is a look at the chart (double click to enlarge):


All data is provided by the Florida Keys Multiple Listing Service - FlexMLS, as of July 5th, 2010. Properties are from mile marker 74 to mile marker 106, Upper Keys only.

No comments:

How Does 2019 Compare to 2018 in Terms of Sales?

The 2018 real estate market was a fairly brisk market, especially considering that much of the Keys was still recovering from Hurricane Irm...