Here’s your latest housing market update for the Florida Keys area.
Today I’m bringing you a Florida Keys market update. Our market has continued to grow throughout this year. 2020 was a record-setting year, but it looks like this year is already going to top that. Keep in mind that these are the Keys-wide numbers, but there will be a more detailed chart with all the data for the submarkets.
Click Here to Get a Copy of The Market Stats
At the end of August, 3,179 homes sold, which is a 62% increase from last year. The average sales price increased 27% from $668,000 in 2020 to $853,000. A number that personally blew me away was the total dollar volume of our sales. That’s sitting at $2.7 billion right now. Yes—billion! That has doubled from the same time in 2020. Our days on market came down to 90 days from about 120 days last year.
I always say that listings and sales have an inverse relationship. We’re having record sales because our listings are so low. We have 1,263 active listings right now which is down 41.9% from last year.
“2020 was a record-setting year, and it looks like this year is going to top that.”
The number of pending sales is a good projection for future closed sales. For that, we were at 376 homes, which is down about 34%. We think this is because the shutdown really pushed the busy season into the fall last year. We’re looking to see if that continues this year or if we pick back up with the normal yearly trends.
I know these updates throw a lot of numbers at you. But feel free to call us or visit our website if you would like more details or have any questions. We’d be happy to help.
