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Sunday, September 30, 2007

September Home Sales in Key West

There were a mere 4 single family home sales in Key West (Key West to Shark Key to be exact) for the month of September 2007. The least expensive home was a 3 bed, 2 bath with 1,062 sq ft that sold for $400,000. The average home was 3 bedrooms, 2 baths with 1,731 sq. ft. listed at $1,092,250 and sold at $943,250 . The highest priced home was a 3 bedroom, 4 bath with 2,377 sq ft listed at $1,699,000 and sold at $1,350,000 after 1046 days on the market.

In September 2006 there were 12 single family sales with the lowest home priced at $460,000 that sold for $300,000 after 50 days on the market. The average home was a 3 bed, 2 bath with 1422 sq. ft that was listed at $767,750 and sold at$686,750. The most expensive home had 4 beds, 4 baths, 2108 sq. ft. and was originally listed at $1,550,000. It sold for $1,320,000 or $628 per sq. ft.

In September 2005 (three months before Hurricane Wilma) there were 23 sales. The least expensive home was a 2 bed 1 bath 700 sq.ft. listed at $375,000 that sold in 1 days for $365,000. The average home was a 3 bedroom 2 bath with 1,805 sq. ft listed at $1,095,000 and that sold for $1,110,000. The most expensive home was a 5 bed,6 bath Key Haven home was listed for $3,400,000 and sold for $3,000,000 after 370 days on the market.

September condo sales were better than 2006. This year there were 11 sales recorded with a combined sales price of $9,421,000. In September 2006 there were a total of 6 condo sales recorded in Key West with a combined sales price of only $2,728,000. In September 2005 there were 12 condo sales with sales totaling $8,326,000.

The pics to the right are of a Key West landmark located at 901 Fleming. The older pic is from the 1970's before the gentrification of Key West began. The newer pic is of the building today. It is listed as a historic & visible office/retail building in old Town. It was recently renovated 3 story building, 2 stories office / retail and full (unlicensed) 1BD/1BA renovated apartment on 3rd floor with 5 off-street parking spaces. The building was listed 563 days ago at $1,950,000 and now reduced to $1,690,000. The seller purchased the building in January 2002 for $745,000.

CLICK HERE to perform your own search of the Key West mls website. You can checkout all single family homes and condos for sale from Key West to Key Largo. And you can even checkout commercial properties. Later, give me a call to set up a showing of your potential new home, condo, of business in Paradise. My number is 305-766-2642.

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Gary Thomas in a Nutshell

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.