Florida Keys Real Estate Market Analysis 2007 to 2008
1/2007 to 10/2008
Residential
Total Active
Days on Market
Number Sold
Sold Volume
Average Sale Price
Area
Last Year
This Year
PCT
Last Year
This Year
PCT
Last Year
This Year
PCT
Last Year
This Year
PCT
Last Year
This Year
PCT
01 - Key West
70
35
-50
305
316
+3
6
5
-16
4,452,500
1,694,000
-61
742,083
338,800
-54
02 - Key West
16
13
-18
237
91
-61
1
1
0
565,000
220,000
-61
565,000
220,000
-61
03 - Key West
38
32
-15
259
174
-32
5
6
+20
2,705,000
1,625,050
-39
541,000
270,842
-49
04 - Key West
38
23
-39
387
346
-10
0
3
+
0
1,562,000
+
0
520,667
+
05 - Stock Island to Shark Key
72
53
-26
333
199
-40
4
6
+50
3,199,000
1,959,000
-38
799,750
326,500
-59
06 - Bay Point to Sugarloaf
82
94
+14
324
236
-27
20
11
-45
15,312,850
8,862,000
-42
765,642
805,636
+5
07 - Cudjoe Key
264
226
-14
359
316
-11
41
42
+2
22,282,500
23,536,250
+5
543,476
560,387
+3
08 - Summerland Key
156
133
-14
373
312
-16
31
14
-54
28,308,620
13,375,000
-52
913,181
955,357
+4
09 - Ramrod Key
76
71
-6
377
345
-8
7
14
+100
3,195,000
6,108,800
+91
456,429
436,343
-4
10 - Little, Middle, Big Torch Keys
105
103
-1
364
300
-17
14
13
-7
14,833,000
6,004,834
-59
1,059,500
461,910
-56
11 - Big Pine Key, No Name Key
448
349
-22
355
290
-18
68
58
-14
30,662,100
21,909,779
-28
450,913
377,755
-16
13 - 7 Mile Bridge to Sombrero Bch Rd E & W
164
139
-15
343
281
-18
19
9
-52
12,338,000
5,234,000
-57
649,368
581,556
-10
14 - Sombrero Area
130
146
+12
387
295
-23
15
12
-20
14,388,500
8,578,500
-40
959,233
714,875
-25
15 - Sombrero Bch Rd to Vaca Cut Gulfside
168
164
-2
376
313
-16
16
14
-12
15,070,828
6,006,490
-60
941,927
429,035
-54
16 - Sombrero Bch Rd to Vaca Cut - Oceanside
235
202
-14
342
292
-14
26
23
-11
14,551,270
9,942,500
-31
559,664
432,283
-22
17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
274
255
-6
381
310
-18
27
25
-7
23,767,822
17,369,250
-26
880,290
694,770
-21
18 - East of Holiday Inn US #1 & Coco Plum
66
63
-4
380
288
-24
8
2
-75
4,714,500
5,899,900
+25
589,312
2,949,950
+400
19 - Crawl Key & Grassy Key
62
51
-17
364
303
-16
8
3
-62
5,355,000
1,037,000
-80
669,375
345,667
-48
20 - Duck Key, Coral Key, Conch Key
175
179
+2
387
283
-26
17
24
+41
17,050,000
16,602,000
-2
1,002,941
691,750
-31
21 - Long Key
56
69
+23
330
240
-27
5
6
+20
2,320,000
2,798,100
+20
464,000
466,350
+0
22 - Lower Matecumbe
168
173
+2
382
304
-20
21
14
-33
26,874,500
16,054,000
-40
1,279,738
1,146,714
-10
23 - Upper Matecumbe
185
164
-11
400
325
-18
12
19
+58
8,995,500
15,049,500
+67
749,625
792,079
+5
24 - Windley Key
28
29
+3
461
408
-11
5
1
-80
2,035,000
825,000
-59
407,000
825,000
+102
25 - Plantation Key
499
489
-2
357
295
-17
60
57
-5
46,270,413
42,944,550
-7
771,174
753,413
-2
26 - Key Largo S of MM 96.9
394
369
-6
364
327
-10
52
43
-17
47,716,950
23,679,330
-50
917,634
550,682
-39
27 - Key Largo MM 97-107
1131
1073
-5
317
257
-18
157
115
-26
109,297,654
68,453,694
-37
696,163
595,250
-14
28 - Key Largo N of MM 107 Incl Ocean Reef
21
15
-28
404
341
-15
2
2
0
3,250,000
1,250,000
-61
1,625,000
625,000
-61
97 - Offshore Islands
6
3
-50
306
461
+50
0
0
0
0
0
0
0
0
0
Other Florida
79
56
-29
260
279
+7
7
3
-57
1,252,550
635,000
-49
178,936
211,667
+18
99 - Outside Florida
14
14
0
327
268
-18
2
0
-
3,140,000
0
-
1,570,000
0
-
Residential Totals:
5220
4785
-8
351
289
-17
656
545
-16
483,904,057
329,215,528
-31
737,658
604,065
-18
Grand Totals
5,220
4,785
-8
351
289
-18
656
545
-17
483,904,057
329,215,528
-32
737,658
604,065
-18
Information is deemed to be reliable, but is not guaranteed.
Prepared by Kelly Willey, SRES onSunday, October 12, 2008 10:38 AM
Kelly Willey is the broker and began her real estate career in 1989 in Baltimore, Maryland and Long and Foster Realtors. She rose quickly to the top of her office and was the Rookie of the Year in 1989 with Coldwell Banker. Over the years she has earned numerous sales awards, sold millions and millions of dollars in real estate and attended a vast number of training programs. Kelly has specialized in working with many REO and foreclosure properties over the last 20 years. And, she holds the SRES, Seniors Real Estate Specialist designation for working with senior citizns and their special needs.
Kelly and her family have been very involved with Island Community Church and Island Christian school. Being involved as a youth leader with the teens sparked their interest in foreign missions. They have taken many trips to the Dominican Republic to serve the impoverished of that country and founded a non-profit corporation, Micah Missions, to raise money and awareness of that cause.
1 Comments on Florida Keys Real Estate Market Analysis 2007 to 2008
OCT
20
2008
Wow, Key West down 50%? And Coco Plum up 400%? Sounds like your market is all over the place but when you average it out, down 18% is about where we are in the greater Jacksonville area.
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Wow, Key West down 50%? And Coco Plum up 400%? Sounds like your market is all over the place but when you average it out, down 18% is about where we are in the greater Jacksonville area.