Market Update - Florida Keys real estate activity July 9th to July 15th, 2012

Interested in the lateset news from the real estate market here in the Keys? Read on!

The past week saw 71 new listings come on the market, 56 listings go under contract and 20 listings closed. Not bad for the off season!

Summer Sea Condominiums - Listed at $389,900

New listings include a rare double unit at Summer Sea Condominium in Tavernier.  This 2 bedroom, 2 bath unit is nearly 1,200 sq. ft in size - well above average for a condo. It has been totally renovated and amenities include large pool, boat storage, first come dockage. Short term rentals are allowed.  It is offered at $389,900.

Pending Sale - Listed at $642,900

Pending sales include a bank owned property in Key Largo I wrote about last week.  This large custom home has over 3,500 sq. ft. under air and offers immediate ocean access. Custom kitchen, marble floors and huge roof-top deck are among the features. It was listed for $642,900 at time of contract.

Sold in Islamorada for $485,000

Closed sales include a spacious canalfront home in Islamorada. This 2 bedroom,2 bath home has over 2,100 sq. ft. of living space and a concrete dock with boat lift. It was sold turn-key, ready for the new owner to start enjoying the Keys life. Originally listed for $699,000, it sold for $485,000.

To view the listings, follow the links below:

New Listings
Pending Sales
Sold Listings

Listing information is gathered from the Florida Keys Board of Realtors MLS. Listing links will automatically expire after August 16th, 2012.

Single Family Homes under $250,000 in the Florida Keys - Key Largo to Key West

People often think that buying a home in the Florida Keys is over-the-top expensive.  While the Keys certainly are home to some of the most priciest real estate in Florida,  there are also plenty of lower priced homes to choose from. 

Many of these properties are homes that are smaller in size to other homes or homes that are in need of some repair. A little "sweat equity" can turn these homes into something very nice, giving you a chance to own in the Keys at an affordable price. 

Still, there are homes under the $250,000 price range that are move-in ready. 

Check the list of available properties; one of them might be just what you were looking for!

2nd Quarter 2012 versus 2nd Quarter 2011 - The market is improving!

Click for larger version

As soon as people I meet find out I am a Realtor, they want to know how the market is doing.  Lately, I'm proud to say it's doing really well, with prices starting to inch back up. 

A quick look at the numbers for closed sales during the 2nd quarter of the this year compared to the 2nd quarter of 2011 shows that prices in most property categories are rising. Open water homes and dry lot homes have seen slight decreases, but both are selling quicker than they did in 2011.  With quicker sales, I suspect these numbers will increase in the 3rd and 4th quarters of 2012.

Canalfront homes have seen a slight up-tick in sales prices.  In fact I updated a CMA I did for one of my sellers and found that the CMA actually came out higher than it had just 4 months ago.  If you're considering purchasing a home on a canal or harbor, now is the time to do so.

Condos appear to be taking longer to sell than they did in 2011, but the sales prices are moving upward. In the past, condos have been slow to sell when there were a lot of "good deals" on single family homes for comparable money. As the inventory shrinks and fewer single family homes are on the market, condos will become a good choice for second home purchasers, particularly those looking for amenities such as pools, fitness centers, beach access, etc.

Market Update - Florida Keys real estate activity July 1st to July 8th, 2012

We had a busy 4th of July here in the Keys. It was pretty much our last big push for tourists, so the rest of the summer is expected to be slow and warm. Thankfully, no storms have impacted us during the first month of Hurricane Season, and we certainly hope that continues to be true.

93 new listings came on the market the first week of July. 50 properties went under contract and 30 properties closed. Not bad for the slow time of the year!

New Listing - Listed for $642,900

New listings include an REO property in Key Largo I wrote about earlier. This property has over 3,500 sq. ft. of living space and 75 feet of dockage. it is just minutes to the open Atlantic.  Offered at $642,900, I expect this home to sell quickly.

Pending Sale - Listed for $427,500

Pending homes include one of my favorite homes in Islamorada. This 2/2 dry lot home is in a private, gated subdivision and has a private pool.  The interior is very reminiscent of an ideal Keys cottage, with coral wall accents, tile floor and wainscoting  on the living room walls. It was listed at $427,500 at the time of contract.

Sold Listing - sold for $735,000

Sold properties include a bayfront home in Key Largo. The 2/3 bath CBS home is all concrete including the roof. It includes a boat basin with sandy beach. Listed as a short sale, it sold for $735,000.

To see the listings, follow the links below:

New Listings

Pending Sales

Closed Sales

Listing information is gathered from the Florida Keys Multiple Listing Service.  Listing links will automatically expire after 8/9/2012.

Bank Owned - Large home on canalfront lot, immediate access to the ocean!

Large canalfront home

Listed for just $642,900, this is a property that won't last long on the market.

Ocean Views from the rooftop deck

Over 3,500 sq. ft. of living space make this a perfect home for elegant Keys living.  75' of dockage with the Atlantic Oceans just a few lots away provides excellent fishing and diving access. Marble floors, granite counters, private elevator, custom closets, open patios and rooftop deck with ocean views are just some of the features of this home.

Call or email today for more information.

Price Reduced - Owner Says "Bring any and all offers!"

Sneak peek at new pricing!  Currently listed at $349,000, the owner of this unit will be reducing  $60,000 later this afternoon when he signs the paperwork, bringing the new listing price to just for $289,000!

Endless Ocean views from your living room!

A complete remodel was completed in January 2012, including two new baths, and new kitchen with granite counters, stainless appliances and custom cabinetry.  Offered fully furnished this unit is totally turn-key and ready to use as a seasonal second home, a year round residence or as an investment property.  

Remodeled & turn-key for immediate enjoyment!

Property features include on-site property management, a heated Olympic sized swimming pool, private sandy beach, private cocktail lounge, cafe, oceanfront marina with boat ramp and dockage, lighted tennis courts and oceanfront gazebo, year round boat & trailer storage and more - all situated on 69 lush tropical acres. These units provide owners with excellent rental income, making it very appealing to the investor. Use it as your own Keys retreat when it's not being rented.  There are no restrictions on when or how often an owner may use the unit.

Easy to show - call today!