Website jan-apr 2012 florida keys real estate market
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Florida Keys real estate market statistics from January to April 2012 brought to you by Jamie Engel and Coldwell Banker Schmitt Real Estate Co in the Florida Keys.
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Website jan-apr 2012 florida keys real estate market
- 1. Florida Keys Real Estate Market Stats January to April 2012 Click your mouse to advance pages Brought to you by
- 2. Florida Keys Real Estate Market Jan-Apr 2012 Vs. 2011 Brought to you by Upper Keys Middle Keys Lower Keys Key West All Areas Jamie Engel (305) 394-2500 Lower Matecumbe-KL 7 Mile Bridge-Long Key Bay Point-Big Pine KW-Shark Key Keys-wide Total Number of Sales No Change +23% More +2% More -15% Less -1% Less As of 4/30/12 242 155 135 216 748 Avg. Sale Price No Change +7% More -19% Less -10% Less -5% Less As of 4/30/12 $399K $415K $292K $431K $392K $ Value of Sales No Change +31% More -18% Less -23% Less -7% Less As of 4/30/12 $96M $64M $39M $93M $293M Sale Price to Original +2% More +8% More +2% More +14% More +6% More List Price Apr ‘12 74.91% 79.19% 82.93% 86.94% 80.99% Sale Price to Final +1% More No Change +3% -2% Less No Change List Price Apr ‘12 89.61% 90.50% 91.51% 91.89% 90.88 Avg. Days to Sell +8% More -21% Less 9% More -22% Less -8% Less As of 4/30/12 293 238 255 257 261 Pending Transactions +18% More +41% More +15% More -3% Less +15% More As of 4/30/12 329 232 165 259 985 Number of Properties -15% Less -12% Less -12% Less -9% Less -12% Less “For Sale” on 4/30/12 1,028 624 593 869 3,114 Average “List Price” +2% More +7% More -1% Less -11% Less -2% Less As of 4/30/12 $796K $701K $543K $715K $706K Months of Inventory -15% Less -29% Less -13% Less -6% Less -12% Less As of 4/30/12 17 16 18 16 17
- 3. Number Properties Available Vs Sold – Keys-Wide Source: Florida Keys MLS 5500 4,925 500 5000 4500 400 4000 3500 300 3000 2500 164 2000 200 1500 1000 100 500 0 0 m N P p o d L b u s e r t i Properties Available Properties Sold Month of Apr
- 4. The Florida Keys Real Estate Market 1999 – April 2012
- 5. Florida Keys Real Estate Market Listed Properties Brought to you by Listings Taken Average List Price Jamie Engel % Change Vs Average % Change Vs (305) 394-2500 # Listings Previous Year List Price Previous Year 2012 YTD 3,114 -7% $706,598 -3% 2011 3,359 -10% $729,285 -2% 2010 3,752 +3% $740,504 -15% 2009 3,636 -18% $859,452 -4% 2008 4,424 -.1% $899,084 -9.2% 2007 4,430 -4% $990,131 .7% 2006 4,628 33% $983,032 .7% 2005 3,469 91% $976,150 23% 2004 1,818 .4% $792,371 33% 2003 1,810 -.7% $594,647 26% 2002 1,822 -11% $471,377 25% 2001 2,058 -24% $375,802 12% 2000 2,712 -14% $336,324 11%
- 6. Florida Keys Real Estate Market Sold Properties Brought to you by Closed Sales Average Sales Price Jamie Engel % Change Vs Average % Change Vs (305) 394-2500 Sales Previous Year Sales Price Previous Year 2012 YTD 748 37% of 2011 $392,850 -3% 2011 2,050 +14% $404,822 -3% 2010 1,804 +16% $419,139 -8% 2009 1,560 +34% $453,203 -23% 2008 1,166 -11% $588,194 -21% 2007 1,311 -13% $731,000 -10% 2006 1,500 -45% $805,883 3% 2005 2,752 -22% $782,400 39% 2004 3,510 4% $563,362 30% 2003 3,377 7% $433,022 31% 2002 3,162 10% $328,801 14% 2001 2,874 19% $288,166 5% 2000 2,413 5% $274,995 12%
- 7. Florida Keys Real Estate Market Comparison of List Price to Sales Price Sales Price % Vs. The Sales Price % Vs. The % Difference Between the Original Listed Price for Listed Price At the Time Original Listed Price and the Properties That Sold After 1 The Property Obtained a Listed Price When Obtaining or More Price Reductions Contract & SOLD a Contract & SOLD 2012 80.99% 90.88% +10% 2011 76.48% 90.97% +14% 2010 75.85% 90.77% +15% 2009 62.49% 87.10% +25% 2008 75.41% 87.42% +16% 2007 77.46% 87.74% +13% 2006 82.52% 91.92% +11% 2005 87.50% 94.68% +8% 2004 87.09% 94.85% +9% 2003 76.23% 94.27% +24% 2002 77.08% 94.56% +23% 2001 87.37% 94.27% +8% 2000 86.77% 94.19% +8%
- 8. Keys Real Estate Market “Listings” Upper Keys Middle Keys Lower Keys Key West Keys Wide # List. % Pri. # List. % Pri. # List. % Pri. # List. % Pri. # List. % Pri. Active Year Active Year Active Year Active Year Active Year 2012 1,028 -7 % 624 -11% 593 -6% 869 -6% 3,114 -7% 2011 1,110 -13% 701 -11% 628 -6% 920 -10% 3,359 -10% 2010 1,273 N/C 788 +6% 669 +28% 1,022 -7% 3,752 +3% 2009 1,273 -12% 740 -8% 520 -27% 1,103 -25% 3,636 -18% 2008 1,448 -7% 808 -7% 708 -.8% 1,460 +13% 4,424 -.1% 2007 1,560 -2% 870 +4% 714 -21% 1,286 -.7% 4,430 -4% 2006 1,587 +35% 839 +33% 907 +42% 1,295 +16% 4,628 +33% 2005 1,080 +99% 623 +99% 650 +99% 1,116 +99% 3,469 +91% 2004 544 -17% 313 +6% 348 +18% 613 +33% 1818 +.4% 2003 671 317 305 517 1704
- 9. Keys Real Estate Market “Sold Properties” Upper Keys Middle Keys Lower Keys Key West Keys Wide # % Pri. # % Pri. # % Pri. # % Pri. # % Pri. Sales Year Sales Year Sales Year Sales Year Sales Year 2012 242 37% 155 44% 135 32% 216 34% 748 37% YTD 2011 652 +27% 347 +4% 420 +9% 631 +10% 2,050 +14% 2010 514 +17% 333 +42% 386 +5% 572 +9% 1,782 +14% 2009 439 +21% 249 +44% 361 +65% 533 +25% 1,566 +34% 2008 359 -11% 160 -19% 219 -8% 428 -9% 1,166 -11% 2007 405 -27% 199 -23% 237 -11% 470 +1% 1,311 -17% 2006 553 -44% 257 -54% 266 -46% 424 -39% 1,500 -45% 2005 999 -17% 557 -7% 494 -29% 702 -31% 2,752 -22% 2004 1,208 +11% 596 -1% 692 -4% 1,014 +6% 3,510 +4% 2003 1,092 609 719 957 3,377
- 10. Keys Real Estate Market “Sale Price” Upper Keys Middle Keys Lower Keys Key West Keys Wide Avg. % Pri. Avg. % Pri. Avg. % Pri. Avg. % Pri. Avg. % Pri. S. P. Year S. P. Year S. P. Year S. P. Year S. P. Year 2012 $399K -7% $415K +15% $292K -14% $431K -9% $392K -3% YTD 2006 -48% 2006 -48% 2006 -55% 2005 -99% 2006 -51% 2011 $402K -4% $359K -32% $340K -1% $475K +13% $404K -3% 2010 $404K -20% $524K +22% $342K -13% $422K -8% $419K -8% 2009 $507K -16% $429K -35% $391K -14% $460K -25% $453K -23% 2008 $607K -18% $661K -6% $456K -19% $612K -27% $588K -21% 2007 $739K -2% $695K -16% $563K -20% $823K -12% $731K -10% 2006 $770K +9% $811K +2% $651K +10% $936K -6% $805K +3% 2005 $706K +43% $804K +39% $594K +37% $1M +37% $782K +39% 2004 $492K +25% $580K +30% $434K +34% $730K +31% $563K +30% 2003 $395K $446K $323K $557K $433K
- 11. Listings Pending 2008 through April 2012
- 12. Keys Wide Listings & Sales 2008 - 2012 5000 500 4500 450 4000 400 3500 350 3000 300 2500 250 2000 200 1500 150 1000 100 500 50 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2008 Active 2009 Active 2010 Active 2011 Active 2012 Active 2008 Solds 2009 Solds 2010 Solds 2011 Solds 2012 Sold
- 13. Keys-Wide Pending Sales – 2008 - 2012 2200 2000 1800 1600 1400 1200 1000 800 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Pendings 2008 Pendings 2009 Pendings 2010 Pendings 2011 2012 Pendings
Editor's Notes
- Listed Properties & Average List Price Keys-wide: # of Listings from the peak year 2007of 4,583 to 4,504 today -2% Average List Price from 2007 high of $990 to $884 today -11% You will notice when we look at the changes in sales & avg. sales price that Seller’s continue to resist the reality of the market and reduce their price to where it needs to be to attract a buyer or take it off the market as it is not a sellable listing
- Sold Properties – Sales Sides & Average Sales Price Keys-Wide * Closed Sales peaked in 2004 with 7,020 and in 2008 had fallen to 2,332 a -67% reduction. The average Sales Price reached its peak in 2006 at $805K and became $507K as of Tuesday this week , a -37% decline. As mentioned a moment ago he drop in number of sales and avg. sales price are much greater than the drop in avg. list price or number of listings. These two statistics explain why so many Companies are in financial trouble today as the $ Volume is significantly less than even 3 years ago. Cleary there will be more fall out in the months ahead. Now let’s look at the change by Market Area – Lower Keys for instance.
- Sold Properties – Sales Sides & Average Sales Price Keys-Wide * Closed Sales peaked in 2004 with 7,020 and in 2008 had fallen to 2,332 a -67% reduction. The average Sales Price reached its peak in 2006 at $805K and became $507K as of Tuesday this week , a -37% decline. As mentioned a moment ago he drop in number of sales and avg. sales price are much greater than the drop in avg. list price or number of listings. These two statistics explain why so many Companies are in financial trouble today as the $ Volume is significantly less than even 3 years ago. Cleary there will be more fall out in the months ahead. Now let’s look at the change by Market Area – Lower Keys for instance.
- This chart presents the change in Active Listings by Market Area : For the Lower Keys the peak was 907 in 2006 and has declined -23%, which is the largest reduction of any Keys market area. The Middle Keys number of listings continues to increase The Upper Keys is off -4% from the 2007 peak of 1,460. Key West is down slightly, -4% from the 2008 peak of 1,460.
- Sales Sides: The Lower Keys 2008 Sales Sides were -68% that of 2004. Middle Keys 2008 declined -73% from 2004 2008 Sales Sides in the Upper Keys was down -70% from 2004 Key West is off -58% for the 2004 peak number.
- Sales Prices: Lower Keys -21 % from the peak of $651K in 2006 Middle Keys -14% form the 2006 peak of $811K Upper Keys -10% from 2006 peak of $770K Key West -51% from the 2005 peak of $1M