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The answer . . . Pretty good!
Here is a comparison of the second quarter of 2013 to the same time period last year. You can see that the average sales price in every category is climbing upward. Additionally, there have been more closings in nearly each category. The combination of increased sales and higher average sales prices is a good indication that the market is not only stable, but steadily increasing.
Naturally, the Realtor community is hoping that this trend will continue. Yes, there will always be that handful of sales that come in lower than expected. These sales are usually distressed sales such as bank owned properties or short sales. But overall, the numbers show that the market is improving.
Interest rates are still low, and there are indications that they may rise again soon. Lower interest rates are most likely one of the main reasons we've seen such positive results in the market this year. It may sound like a cliche, but if you are considering a purchase in the near future, you will want to do it soon while rates are still low and there is still a good inventory to choose from.
If you'd like to learn more about the real estate market in the Keys, don't hesitate to call or email me using the contact button at the top of this page.