Our Upper Keys blog covers information from Key Largo and Islamorada market statistics and home values to Keys happenings. We also include "local reviews" of Keys neighborhoods, condominiums and more. We care and want to help you find your best place in the Florida Keys. Please reach out if you have any questions at all. An easy way is to visit ScheduleJim.com. We’d love to speak with you!
Per the Coldwell Banker Schmitt year-to-date report through March 2021, the total dollar volume of real estate sales in the Florida Keys was $916,802,940. This comes after relatively stable first-quarter sales reports with sales volume in the upper $300 million range from 2017 through 2019 and slightly higher in 2020 during which the figure neared the mid $400 million mark. The 2021 reported amount is over double as compared to 2020.
Great value at this solid concrete home in Key Largo. The upstairs has been extended and includes 3 bedrooms and 2 bathrooms plus a roomy screened porch. Downstairs is 2 bedrooms and 1 bathroom with a full kitchen. Located in a predominantly single-family neighborhood, this area is non-conforming but is a great area for guests or extended family. Price is $650,000.
South Creek Village is located on the ocean side of Key Largo and includes a waterfront homeowner's park. Membership in the voluntary homeowners association affords owners access to the boat ramp and up to 72 hours of continuous boat dockage on a space-available basis.
Through March 2021, the first-quarter market report for the Florida Keys reveals a significant jump in the number of sales as compared to prior years. As shown in the graphic, the number of sales had been relatively steady from 2017 through 2020, ranging from the low to mid 600s. Soaring to well over 1,000 for 2021, the number of sales year to date is up 66% Keys-wide.
The Upper Keys trails in the percentage increase at 40.5% but this submarket is also most affected by the greatest decline in the number of properties for sale, creating a significant challenge for buyers in the area. View the entire Florida Keys first quarter market report as compiled by Coldwell Banker Schmitt Real Estate Company.
The Seller's Market Continues in the Florida Keys per the Listings and Sales Report at the end of 1st Quarter 2021
According to the Coldwell Banker Schmitt Real Estate Company report for the period ending March 2021, the number of sales, dollar volume of sales, and the number of pending transactions are up dramatically as compared to previous years. The number of properties listed for sale continues to be very low and, for the time being, the overall market remains a "seller's market".
Congratulations to our buyers and sellers, all of whom are repeat customers! This property was off-market when the stars aligned and we came up with a win/win scenario for both parties. The sale was financed expertly by Lisa Feliciano of SouthState Bank.
Just sold this home in Islamorada in the Upper Florida Keys. Congratulations to our buyers who are repeat customers from 4 years ago. This house is on the corner of the Old Highway and Schooner Bay Road
Although still very early in the year, the real estate market in the Florida Keys continues to be robust, following the trend that began in 2020. The demand from buyers is outpacing the number of sellers as explained with a few of the key numbers below.
Through February 2021, Keys-wide the YTD comparison vs 2020 reveals the following highlights:
The number of closed sales is up 55.7%. This is after being basically steady from 2017 through 2020.
The number of properties for sale is down 32.3%. In the Upper Keys, the number is down 43.6%.
The number of pending sales is up 61.9%.
Thinking of selling your home? This is a great time to take advantage of the strength of the Florida Keys market before circumstances change. The listing competition is low and the demand is still high.