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Florida Keys Real Estate News & Trends from CB Schmitt
Keys-Wide Comparison January-March 2021vs 2020
Coldwell Banker Schmitt’s Luxury Island Properties Real Estate Report
Big Pine Key Real Estate agent REALTOR at Coldwell Banker Schmitt, Inc, specializes in the sale of Fine Homes and Condos in the Lower Florida Keys.
Since 1997, she has provided buyers and sellers with in-depth professional assistance in the sale and purchase of a residential property. If you are interested in buying or selling a home and want the professional assistance of a seasoned expert, who will work diligently in an effort to satisfy your needs, please call Diane anytime at 305-849-0934.
Hopefully, you will find this website to be comprehensive, interesting, and informative. Please bookmark this site (http://www.dianecorliss.com) Big Pine Key Homes for sale plus valuable information at your fingertips about living in the Lower Fl Keys.
Buying In The Keys
Making the decision to live in the Lower Fl Keys is just the beginning. Searching for the Perfect Property can be an involved and tedious process.
To HELP you navigate through these property searches, I have set up Quick Search Icons. The Icons give you property breakouts based on Price points and Areas.
There is also an add-to-email feature—whereby if you let me know what you are looking for, I will set up an automated email program that will send you listings per your parameters on a daily basis.
WHAT'S NEW JULY 2022
Cudjoe Key Real Estate
The Cudjoe Key residential real estate market is very active and hot. With thousands of people moving into the state every day, to escape high taxes, high costs of living, and more, Florida is experiencing a boom in its population. That’s driving real estate prices up, particularly in the most attractive areas. Cudjoe Key is one such location. So, let’s take a look at the Cudjoe Key residential real estate market and what to expect through the rest of the year and into early 2023.
The residential real estate market is currently a seller’s market, with listings quickly selling. In fact, the market's median days now stand at just under a month and a half, at 43 days. Additionally, the sale-to-list price ratio in the area now stands at 97.16%, which means homes are only selling for 2.84% below they're asking prices. this is indeed good news for home sellers who are eager to turn a profit on their properties. However, it does put buyers in a precarious situation, having to find suitable properties and act on them quickly.
Right now, the Cudjoe Key real estate market has a median listing price of $1.3 million, with the median list price per square foot at 788, and a median selling price of $927,500. These figures represent a 51.2% increase in year-over-year comparison and it is quite likely that this trend will continue through the summer, perhaps even lasting into the winter months.
However, interest rates have gone up significantly and with the Federal reserve planning on raising rates even more over the coming months, the number of new mortgages and refinances is slowing. Because there is enough active inventory in Cudjoe Key, buyers May soon find more choices for less money. As interest rates rise and inflationary pressure continues, the housing market in the local area and beyond will certainly slow as a result.