Florida Keys Real Estate in 2023
There's Only Half the Inventory of a Normal Housing Market Today
The market is unique this year, following two very successful years.
Even though fewer houses are being sold, their prices are still going up.
This is because there aren't many houses available for sale.
Sellers are asking for higher prices, and buyers are negotiating a bit.
Luxury homes (those over $1.3 million) are doing especially well.
For the market to stabilize, more houses need to be available for sale.
In different parts of the Keys:
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Middle Keys and Key West saw house prices go up.
Upper and Lower Keys saw a decrease in prices.
It's taking longer to sell a house compared to last year.
Fewer houses are being sold, but their prices are higher than last year.
Many homeowners are choosing to stay in their current homes, partly because of the current mortgage situation.
There's a general shortage of houses available, not just in the Keys but in many parts of the USA.
In simple terms, the Florida Keys real estate market in 2023 is seeing higher house prices and fewer sales, mainly because there aren't many houses available to buy.
Ashkarian/Ardis Team
305-395-0814/305-481-3317
www.SearchFloridaKeysHomes.com
Florida Keys Real Estate in 2023
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