Key Colony Beach, Near Marathon Airport Florida Keys: Florida Keys Home Price Update

Florida Keys Home Price Update

 
 
Friends and Clients — 
 
And...we're back! The real estate market is currently experiencing a rebound unlike anything we've ever seen.
 
If you've been waiting on the sidelines, just know right now is a unique moment you will want to take advantage of. Let us give you the details:
 
According to the National Association of Realtors, sales of existing homes jumped nearly 21% in June compared to May (the last months for which we have complete data). This is the largest monthly gain since tracking began in 1968.
 
Sales of new homes also jumped by 13.8%, the largest one-month increase since 2007.
 
Much of this reflects pent-up demand from the spring season, which was paused by the coronavirus pandemic. However, it's also a sign of more fundamental changes.
 
For example, first-time buyers accounted for 35% of all buyers in June. That figure had been as low as 30% in recent months. This could be an indication that, with social distancing restrictions and new work-from-home setups, more folks are realizing the value of owning their own home.
 
Also helping things are record-low mortgage rates. Several weeks ago, the 30-year fixed mortgage rate fell to an all-time low of 2.87%. That's a full percentage point lower than a year ago.
 
These low mortgage rates are making homes more affordable; they are also supporting continued price growth.
 
As a result, June made history: The median price of an existing home sold rose 3.5% annually to the highest price on record.
 
The point of all these statistics is simply this:
 
If, like most folks, you've been sitting on the sidelines because of the pandemic, now is a great moment to act.
 
If you are thinking about selling, you will have a strong tailwind because inventory is so low.
 
At the end of June, the supply of existing homes for sale fell 18.2% annually. This means there is a lot of unmet demand, so you could sell quickly and for top dollar.
 
If you want to get an idea of what your home could sell for in the current hot market, take a look at the following home value calculator, which is based on recent Florida Keys sales:
 
 
Of course, with the pandemic situation still developing, there are no guarantees about how things will look in several months. However, right now is a golden moment for the real estate market. 
 
So if you have any questions, whether you're buying or selling, give either of us a call at:

Lela: 305-395-0814 | Natalie: 305-481-3317  
 
Have a great day,

Lela Ashkarian & Natalie Ardis
 

Featured Listing:

308 Pinetree, Duck Key Florida, 33050
Under Contract in One Day
 
Click here to watch the listing video!
 
Watch Video
 
 
When a listing becomes canceled or expired, it can tarnish the property, but with the right plan moving forward, it doesn't have to. By FOCUSING on what prevented the sale, we can build a strategy that will revitalize the listing. Our approach has been proven time and time again to successfully sell canceled and expired listings, and we can do the same for you. Don't let your prior experiences deter you from getting your property SOLD. It only takes one buyer to make a deal happen. When Market Behaviors Change, we recalibrate our Marketing Strategy.

We know how to find that buyer and get the deal that you deserve. Call us today!
Lela: 305-395-0814 | Natalie: 305-481-3317  
 
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Now really Do you want to Find and Move in Florida Keys?

Remember ---what you think about, you talk about, you bring about. Don't! keep me a secret..Right Now, take out your cell phone, look up my number  305-395-0814  and give me a call, Have the best day of your life

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Lela Ashkarian, PA, CRS, GRI, e-PRO

Coldwell Banker Schmitt Real Estate

International President's Circle

11050 Overseas Highway

Marathon, Fl 33050

305-395-0814

lela@coldwellbanker.com

 
P.S.My Purpose is for you to be so outrageously happy with the help I provide you that you'll gladly introduce me to at least two people you really care about before I even sell your home/help you buy a new home.  Not because you feel obligated, but because you truly believe they will benefit.

 

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Comment balloon 2 commentsLilas "Lela" Ashkarian • August 25 2020 08:10PM

Comments

Hello Le@la, very good latest home price updates for Florida Keys.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) about 1 month ago

Lilas "Lela" Ashkarian once again you provided valuable information for both Buyers and Sellers in your area.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 1 month ago

Participate