At this point in time it appears that 2011 is the turn around year for the Florida Keys real estate market. Most of the areas in this 106 miles of island chain is seeing an increase in what properties are selling for compared to last year. Our properties have adjusted downward about 50% from the boom. The bubble bursting for the Florida Keys happened at the end of 2006 / beginning of 2007. 4.5 years later, we are seeing the light at the end of the tunnel.
In an earlier post, I showed statistics for the first quarter of 2011. Take a look at that post so you can compare to the stats listed below.
The stats below are for the first 8 months of 2010 vs 2011 – We are seeing a decrease in active listings, an increase in the number of properties selling and an increase in the dollar amount they are selling for. The chart below is comparing January 2011 to August 2011 to the same time frame as 2010.
Note: The row labels “county” is for the Lower Keys.
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[...] a look at my post – 2011- the year the Florida Keys Real Estate Market Turned Around This will show you statistics of what homes in the Florida Keys are selling for; comparing 2011 [...]