Key West Real Estate Market Report February 2012

During the month of February 2012, there were 448 properties actively listed in the Key West real estate market. Of these properties, 120 were contingent or pending on the last day of the month, and 33 properties had been sold. One year ago, during the month of December, the number of active listings was 484, the number of properties contingent or pending was 159, and the number sold was 33. 

The Key West real estate market shows a positive trend when comparing the first two months of 2012 to the first two months of 2011. Both the number of active listings and the number of sales has increased. The average selling price increased, as did the median selling price as compared to the same period in 2011.

The average price of properties has increased as has the median prices of properties sold this February as compared to a year ago. According to the February 2012 Key West Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price for all properties sold in Key West in February 2011 was $404,697.33, and in February 2012 the average price increased to $524,728.67. The median price of properties sold in February 2011 was $378,833.33 and increased to a median price in February 2012 of $471,666.67.

To break the number of sales down into more detail: The number of single-family homes sold in Key West during February 2012 was 16 and in February 2011 was 22. The number of condos/townhomes sold in Key West in February 2012 was 15, the same number as last February. There were 2 other properties (duplexes and multi-family) sold in Key West during both February 2012 and in February 2011.

As the graphs comparing sales from January to December show, now is the perfect time for buyers and sellers to take advantage of this market!  I'm ready to assist with my knowledge of Key West and my extensive real estate experience.  Give me a call today.  Jimmy Lane: 305-766-0585 or contact me online at http://www.jimmylane.com

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