Florida Keys real estate market report

The Florida Keys real estate market is fast becoming a challenging market for buyers. The number of properties being sold as short sales has been greatly reduced partly because the market’s values are rising giving sellers more equity. The Florida Keys are seeing a drop in distressed properties entering the market. One might think that this would translate into lower numbers of foreclosures entering the market too, however Florida Keys Foreclosures numbers have remained somewhat constant as lenders seem to want to maintain that inventory around 100 units so as to follow the market up which is mainly driven by arms length transactions much different from what the market was from 2006 through 2011. As most foreclosures were once short sales that did not sell, this number maybe a good indicator of foreclosures to come. The numbers of short sales at time of this writing were down to just under 200. The real estate market here in the Keys reached a low in both volume of sales and property values in 2011. At that time there were close to 800 short sales being marketed. Visit me on line at my Florida Keys real estate website for the most up to date Florida Keys information and the most comprehensive search of the Florida Keys MLS and Florida Keys Homes.

So what is the real estate market in the Florida Keys doing? It is moving and moving fast. The Keys market is driven by retirees and working class people who want to play and live in a warm climate and enjoy the warm tropical waters that are not present in any other part of the continental US. Most of our demand is from people wanting this lifestyle. In 2012 there were 2218 sales an increase of 8% compared to 2011 which saw a 13% rise over 2010. This was the first time since 2005 that sales numbers had exceeded 2000 units or properties. The average sale price was 422K which is 5% higher than 2011 when it was 403K. On the supply side the inventory decreased by 7% to 3138 at the end of 2012 from 3359 which is the number of properties on the market at the end of December 2011. That is also down 32 % from the high of 4628 which occurred at the end of 2006. The numbers of short sales is at 319 which is less than half of what they peaked at in 2010 when it was hovering around the 800 mark. Bank owned or foreclosures are also down in numbers. Today there are 90 bank owned properties on the market 36 are under contract. This number too is about half of what it was in 2010 when inventory of bank sales peaked. Want to know about the Florida Keys Real Estate Market?

Now is the time to buy in the Florida Keys!

Looking for a home in the Florida Keys? If you are, you have noticed the inventory of Florida Keys homes for sale has dramatically been reduced over the past year as many buyers trying to time the market have purchased properties. Then number of bank or lender owned properties or REO's real estate owned by lenders has too been reduced. Banks and lenders have been very diligent in controlling the release of bank owned properties in the Florida Keys so as not to flood the market. The has led to relatively stable prices in the Florida Keys Housing market.

Please visit me on line or contact me directly to get the latest on Florida Keys Real Estate.

Florida Keys Real Estate

Has the Florida Keys Real Estate market changed? Is the bottom here for Florida Keys Homes for sale. All indicators say yes. A lower inventory, less Florida Keys bank owned or REO's on the market, along with less fair market properties available. The home inventory if very low in the Florida Keys.

One of the islands I specialize in is Big Pine Key, one of the most affordable islands in the Keys.

Let me help you by first signing you up for Real Estate market updates which show you the selling price of homes in the area along with any new properties that become available on the Florida Keys MLS or Multiple Listing Service.

I am here to help you, please let me know how I may.

Best regards,

John Nazzaro

Want to see what has sold in Florida Keys Real Estate for the month of August 2011? This link will show single family, duplexes, half duplexes, condos, town homes and mobile homes that have sold. You can organize the list by clicking on the header you wish to organize it by, such as price, Key, style, waterfront, living square feet, total bedrooms, baths and lot sizes. Then click on the listing to view additional information and photos of it.




Want to track Florida Keys Real Estate properties and see what they have sold for? Follow this link to see what sold in August:

http://www.flexmls.com/link.html?uc0xkow6x13,6,1">Click

This link will take you to a short list I have compiled of REO or bank owned properties.

http://www.flexmls.com/link.html?uc0xovob9m9,6,1%22%3eClick

Florida Keys Real Estate

Florida Keys 2011 First Quarter Sales

Below are links that will take you to the first Quarter of 2011 properties that have sold Florida Keys Wide January 1, 2011 through March 31, 2011.


Florida Keys Single Family Dry Lot Homes


Florida Keys Single Family Waterfront and Canal Front Homes


Florida Keys Condo’s Townhomes


Florida Keys Mobile Homes

For additional information about the Real Estate Market in the Florida Keys or if you would like a list of bank owned properties or search of a specific area for what I believe will be the next homes to sell because of there position in the market. Please email me at JohnNazzaro@bellsouth.net. Make sure you visit my Florida Keys real estate website.

Florida Keys Real Estate

Sunny greetings to you from the fabulous Florida Keys and from the Keller Williams team of John Nazzaro and Matthew Blalock. We understand you have a choice in who you work with while hunting your property in paradise and appreciate you visiting www.JohnNazzaro.com. We hope you find the website useful as it has many interesting and helpful links to aid you in your search for a home in the Florida Keys.


We know the Florida Keys! Here is a little about our team.

John Nazzaro, P.A. of Big Pine Key, holds a 25-ton captain’s license, is an avid SCUBA diver and a former project coordinator for the Florida Keys National Marine Sanctuary.

Matthew Blalock, P.A. lives on Summerland Key and is a South Florida native, a multi-published author, a former search and rescue aviator, and a licensed SCUBA Instructor Trainer.

Between us we have over 25 years experience in the real estate industry, and countless hours doing the things people love to do in paradise—professionally.

In fact, our professional experience is what sets us apart from the rest, as we really do “know the Keys”-- from the air, the sea and the individual communities that make up each of the Florida Key’s unique little islands.

There are many services we provide, including and not limited to the following, daily or weekly updates of properties as they are listed for sale, pricing updates and sales updates. Comparative Market Analysis of properties along with the ability to smoothly navigate through the waters or your piece of paradise a home in the Florida Keys. Please let us know if you would like to sign up for any of these services.

And don’t hesitate to call us anytime--we’re here for you!