April 13, 2012

"So, how's the market in the Keys?"


Ask any Realtor in the Keys and they will tell you that this is the question they are asked the most, particularly in relation to distressed properties on the market.

The answer is: Not bad at all.

Many areas in South Florida have been hit pretty hard by short sales and foreclosures. While the market in the Florida Keys has not been completely untouched, it certainly has fared better than many of our nearby areas.  Less than 19% of all single family homes on the market are distressed properties, and 22% of condos, townhomes and condotels on the market are distressed properties.


A quick look in the MLS reveals the following statistics for bank owned properties and short sales:

SINGLE FAMILY HOMES

Total Inventory: 1,541
Bank Owned: 37
Potential Short Sale: 250

CONDOS, TOWNHOMES & CONDOTELS:

Total inventory: 600
Bank Owned: 21
Potential Short Sale: 111

Note, these numbers are as of the time of writing this article and they do change daily as properties go on and off the market

To see the bank owned (REO - Real Estate Owned) properties, follow the following links:

REO: Single Family, Keyswide
REO: Condos, Townhomes & Condotels, Keyswide

If you would like more information on a particular are of the Keys or a particular piece of property, don't hesitate to call or email.

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...