The latest numbers are in for the Florida Keys real estate market and I’m excited to share them with you today. Compared to last year, there was quite a change in the numbers. All of these statistics are through the end of February 2021 as compared to February 2020:
- Florida Keys sales have increased 55.7%.
- The average sale price is up 44% to right around $860,000 Keys-wide.
- Days on market is stable—right around 111 days. This may start to trend downward in the next few months.
- Pending transactions (i.e. when a property goes under contract) are up 61% over last year. We had 714 properties under contract at the end of February 2021 compared to 441 in February 2020.
Keep in mind that the numbers from 2020 are pre-COVID, so in the next few months we should really start to see how the market has recovered from that time.
It’s incredible to see just how different today’s market is from where we were a year ago. More homes are selling for more money, which is great news for home sellers. As for homebuyers, these numbers mean that the stiff competition is even stiffer, so it’s more important than ever to have a professional on your side who can help you win against multiple offers. If you have any specific questions about the numbers in your neighborhood or anything related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.