FLORIDA KEYS REAL ESTATE MARKET REPORT

FLORIDA KEYS REAL ESTATE MARKET REPORT: While in a real estate seminar today, agents from around Florida and I were discussing the current market conditions, and how it was effecting the way they structured there businesses to deal with the immediate future. I was amazed to hear that in the Orlando area (for instance) 70% plus of their listings in the residential sectors were Short Sale Properties, WOW!

As my market updates to ya all have been centered around all Monroe County sales, and then the specific area's of my Focus, Duck Key and Key Colony Beach, I thought I would take a moment to share with you what I shared with this elite group of savvy Central Florida Brokers and Investors.

My records show that as of today we have currently have 3,240 residential properties for sale in Monroe County. Only 614 of those (or approx 19%) are currently listed as " Short Sale Real Estate " and only 144 (or approx 4%) of those are Bank Owned REO properties. This is a HUGE difference from the numbers I have been getting from Brokers in other area's. In addition to that, 459 (or approx. 75%) of those Florida Keys Short Sales are under $500,000, 21% are 500K to 1 Million Dollars, and my records show that only 4% of properties over a Million, are distressed sales. In the Bank Owned Sector 120 (or approx 83%) of the Florida Keys Bank Owned Real Estate is $500K or under and there is nothing in the 1 Million and More bracket. I wonder what those #'s look like in West Palm Beach, Fort Lauderdale, and Miami????

In conclusion, since January 1st of this year we have closed 1072 residential sales here in the Fabulous Florida Keys and only 253 or (23.6%) of those have been Short Sales. Pretty interesting when you contrast those numbers (which I pulled directly from our M.L.S.) with the statistics i have been given from around the rest of the state!; so if you are an investor or someone looking to buy a second home you might want to check out the what the Florida Keys Have to offer! Check out www.keyspropertyguy.com for all the Real Estate that is For Sale in the Florida Keys.