November 2023 proves to be a significant month for Monroe County's single family housing market, with growth observed in closed sales. This critical metric, reflecting the successful transfer of single-family homes, shows a notable 1.6% increase compared to the same period in 2022. Noteworthy is the continuation of this positive trend following October 2023's impressive 23.3% rise in closed sales, marking the first consecutive months of increase in over a year.

The growth in closed sales carries significant implications for both buyers and sellers. Increased closed sales often indicate heightened buyer confidence, a competitive market, and a positive outlook for property values. For sellers, this trend translates to a higher likelihood of successful transactions and potentially favorable pricing.

Accompanying the growth in closed sales is a substantial increase in the median sale price for single-family homes. November 2023 saw a significant jump to $1,124,500, marking a robust 16.8% increase from the $963,000 recorded in November 2022. This rise in median sale prices aligns with the heightened demand indicated by the growth in closed sales, reinforcing the overall strength of Monroe County's real estate market.

The growth in closed sales is a notable feature of Monroe County's housing market in November 2023. This increase, coupled with a rising median sale price, paints a picture of a thriving and dynamic real estate landscape. As the market continues to show signs of strength, both buyers and sellers can navigate the opportunities presented by this growth in closed sales, setting the stage for a promising future in Monroe County's real estate arena.

For more information on buying or selling in the Florida Keys MESSAGE US today. You can also READ the full report from the Florida Board of Realtors.