During the month of January 2012, there were 418 properties actively listed in the Key West real estate market. Of these properties, 109 were contingent or pending on the last day of the month, and 30 properties had been sold. One year ago, during the month of January, the number of active listings was 285, the number of properties contingent or pending was 46, and the number sold was 7.

The Key West real estate market shows a growing trend when compared to January 2011. The number of active listings has increased, and the number of sales has increased as well. The average selling price increased, as did the median selling price in 2011.

Compared to a year ago, the average price of all properties has decreased by 4%, but the median prices of properties sold this January were 11.4% higher than a year ago. According to the January 2012 Key West Real Estate Statistical Analysis published by the Key West Association of Realtors, the average price for all properties sold in Key West in January 2011 was $390,858.67, and in January 2012, the average price decreased to $375,356.67. The median price of properties sold in January 2011 was $299,000.00 and increased to a median price in January 2012 of $333,000.00.

To break the number of sales down into more detail: The number of single-family homes sold in Key West during January 2012 was 18 and in January 2011 was 18. The number of condos/townhomes sold in Key West in January 2012 was 11, compared to 14 last January. There was 1 other property (duplexes and multi-family) sold in Key West during January 2012, and 6 other properties sold in January 2011.

As the graphs comparing sales from January 2011 to January 2012 show, now is the perfect time for buyers and sellers to take advantage of this market! I'm ready to assist with my knowledge of Key West and my extensive real estate experience. Give me a call today. Jimmy Lane: 305-766-0585 or contact me online.

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