Florida Keys Board of Realtors Market Report for November 2022 is now available.
As anticipated the market continued to see sales slow during the month of November. Single family home sales not only saw a 60% decrease in sales, it also saw a 47% decrease in cash sales. The interesting twist with the slow down in sales, is still a lack of inventory coming onto the market, new listings were down 7% over the same month in 2021. We have seen a year over year increase in inventory but still not that huge increase that people have been anticipating. Traditionally we see the most inventory come into our market during the January and February months. It will be interesting to see if that happens in 2023 and if that helps the market balance out.
Want to know more? READ the full market report. Thinking of buying or selling in the keys and want to speak to one of our experts? Call us today.