A Stabilizing Market
A look at the most recent numbers in the Upper Keys shows that the market is stabilizing. From last
quarter, the number of listings is declining and number of sales is increasing. Although short sales and
bank owned properties still make up a sizable portion of the market, when you look closer, most of
the short sales are pending sales. In fact, fewer short sales are coming on the market, it just takes
more time than a normal to close these sales.
The average property list price is slowly increasing, but the number of days a property is on the
market still remains to be the better part of a year. The average and median sales prices are also up
from the first quarter of 2011, but still down from a year ago. The good news is that this spread is
getting closer and hopefully, by the end of the year, the sale prices will also stabilize.
Most of the sales so far have been under $300,000 dry lot homes and $400,000-$600,000 canal homes,
although there have also been a few "big ticket" sales. Most of the larger sales have been cash, as
financing is still difficult. -Alexa Wheeler
2011 Islamorada Area Real Estate Sales
January 1st - June 30th, 2011
2011 Islamorada Area Real Estate Sales
January 1st - July 7th, 2011
Vacation
Rental News
Freewheeler Vacations is in the process of developing a
Platinum Property program, similar to Realty World - Freewheeler's Platinum Properties. Platinum Properties
represent the luxurious amenities, location, and décor
that set the home apart from the average vacation
rental.
Currently we have several properties that will be part of
this program and we are actively looking for more
properties that meet the requirements. A special part of
our website will feature these properties and custom
internet advertising will also be done.
This is just a sample of some of our Platinum Vacation Rental Properties
Upcoming Events to the Upper Keys
Key Largo Events
8/6: Opening of the Regular Lobster Season
7/29 - 8/7: Key Largo Food and Wine Festival
8/19 – 8/20: Key Largo Anything that Floats Regetta
8/20: Second in a series of three Divers Lionfish Derbies
Islamorada Events
9/13 - 9/16 Islamorada Invitational Fall Fly Bonefish Tournament
8/26 - 8/28 Herman Lucerne Memorial Backwater Fishing Tournament
Third Thursday of each month in Islamorada: Morada Way Arts & Cultural Walk.
Quote
of the Quarter
"An
ounce of performance
is worth a pound of promises."
---
Mae West / American Actress
Realty
World-Freewheeler has Two Upper Keys Locations:
Copyright © 2011 Realty World-Freewheeler All rights reserved.
|
