The Key West real estate market slowed down a little for June in terms of sales overall. The average list price for June 2018 was reported at $975,743 compared to $911,396 a year ago. This is a 7.06 percent increase in year-to-year data. Median list prices for the month came in at $667,000, up by 7.75 percent from $619,000 in June 2017.
Actual sales growth was slow for the month of June. Average sold prices were reported at $716,027, down by 13.88 percent compared to a year ago. The median sold price for single-family homes in the Key West area was reported at $575,000, down by 6.5 percent compared to June 2017, when the median sale price was $619,500. The majority of units sold in June ranged in sale prices between $300,000-$599,999, while there were also some properties sold between $650,000-$949,000.
Key West Area Selling Price
June’s sales report shows 61 properties sold in Key West, compared to 80 transactions completed in June 2017, a 23.7 percent decrease. Chances are this slow-down in sales was impacted by families getting started on summer vacations with school being out for the season. There were 25 pending sales by month’s end, and another 73 listings added to the market. There was a total of 526 active listings in June, with the majority of them ranging between $300,000-$2,999,999. YTD Active listings total 1,013 with a total of 428 new listings coming onto the market so far in 2018. Whatever your budget and lifestyle needs, there’s sure to be a Key West property for you.
Key West Area Total Listings Sold
Days on the market show mixed results between averages and median figures. The average days on the market for listings sold last month was 189 compared to 149 days a year ago. Yet median days on the market held steady 72 days compared to 73 in June 2017. Median and average year-to-date days on the market show similar results. Average YTD days on the market were 179 compared to 137 a year ago, while median YTD data shows 67 days compared to 72. These figures are close to what was reported in May as well, showing a steady pattern for this time of year.
Other markets will continue to see large upswings and downtimes based on the weather, but in Key West, we avoid many of those restrictions. Our climate is steady and will continue to draw buyers to our area year-round. Whether you are a tourist or looking to make a permanent change to the Keys, there are many reasons to move to our beautiful area. If you would like more information on the real estate in this amazing area, contact me, Jimmy Lane, at Key West Real Estate: 305-766-0585.