2015 Key West Real Estate Market Trends

February 24th, 2016

The Florida Keys are home to some of the best beaches around, the weather is pleasant year round and the island’s quirky culture can’t be matched. What many potential home buyers and sellers don’t realize is that the Florida Keys real estate market can be very different than that of South Florida and the state as a whole. As experts in the Lower Keys and Key West real estate market, Preferred Properties is providing an overview of the top real estate trends seen in 2015.

Here is a breakdown of various real estate statistics published by the Key West Association of Realtors from 2014 and 2015. Included in the data are the total home sales in Key West and the Lower Keys as well as selling price and days on marker. We will then examine how the real estate market has changed and identify the primary trends.

Key West Real Estate

Key West Home Sales

Key West Real Estate Data

Lower Keys Real Estate

Lower Keys Home Sales

Lower Keys Real Estate Data

Key Takeaways
It can be concluded that almost all key metrics have experienced an increase from 2014 to 2015. The only metric to see a decrease was the days on market for homes sold in the Lower Keys.

For both Key West and the Florida Keys, the total number of homes sold and the average and median home prices have increased. This trend is encouraging for homeowners interested in selling their homes at or above market value.

For homeowners eager to sell quickly, it is important to note that the average number of days on market for properties in the Lower Keys dropped by 18%.

The most popular months for home sales in Key West are March, April and July. On the other hand, the most popular months for home sales in the Lower Keys are March, April and October.