Key West Real Estate Prices Continue to Drop

May 4, 2008

pink house.jpg According to the most recent real estate figures, the national real estate crisis certainly has not left Key West property value unscathed. While home values here are still high ( and of course many continue to argue MUCH to high for most folks) the numbers are going down, without any question. By and large the northern keys look much more vulnerable to a continued slide…although plenty in Key West are skittish about where things MAY go in the year to come. You can read the full article at the Citizen's link below:

The Florida Keys housing market continued to slump in the first quarter of this year, with the prices and number of sales falling while the time homes spend on the market rising over the same period in 2007. Eighty fewer houses sold from Jan. 1 to March 31 — 13 fewer in the Lower Keys and 67 fewer in the Upper Keys, according to Multiple Listing Service statistics furnished by Rose Sanchez of Century 21 All Keys Inc. and Tracy Larson of American Caribbean Real Estate and Marr Properties.Lower Keys statistics range from Key West to Big Pine Key, and Upper Keys statistics range from Mile Marker 74 to 106, but exclude the Ocean Reef Club on the tip of Key Largo.In Key West, 73 homes sold, eight fewer than last year, with smaller homes being more popular. Among those that sold, 40 were two-bedroom, 21 were three-bedroom, 11 were four-bedroom and only one was a five-bedroom.

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Key West Real Estate Prices Continue to Drop

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