Real Estate Market Trends of the Lower Keys
Are you considering purchasing a piece of paradise or selling your current island home?
The Florida Keys real estate market can be very different than the rest of the state’s market. The market in the Keys is fast moving and properties are not sitting on the market for long! Here is an up-to-date analysis of our current market trends of the lower keys. The average Key West home is only on the market for 120 days. Approximately 28.51% of Key West homes are owned, compared to 36.4% rented, while 35.09% are vacant.
The median price of homes currently listed in Key West is $789,000. The year over year comparison average sales prices of Key West neighborhoods shows that overall sale prices are rising. This real estate market trend is encouraging for sellers interested in selling their home at or above market value in the lower keys.