Saturday, April 4, 2009

1st Quarter Florida Keys Sales Stats for 2009 a New Year, New Incentives, New Considerations and a New Quarter of Data. Unbelievably Low Interest rates, an Incredible Inventory of Waterfront and Non-Waterfront Property, Nervous Sellers, a teetering Economy, and a nice $8000 First Time Buyer Incentive. Wow what a bouillabaisse!!!!

Well, the things that strike me when I look at the first quarter numbers below are the small quantities of CLOSINGS that occurred. Except for Waterfront Properties in the Lower Keys, the number of closings is rather sparse. Remember though, many of these properties went under contract at the end of last year and the beginning of this year, when the economic outlook and uncertainty was most bleak.

It will be quite interesting to see the change when you look at next quarter's results. As I, and many of my colleagues, have been evangelizing, it is a phenomenal time to buy in the Keys, and wise buyers are now heeding the call. I have a buyer that is about to put an offer on Waterfront Property on Duck Key and another buyer offering on a Mobile Home in Key Largo, and though very different properties, both are being offered by smart sellers who "Get the Picture!" Very nice properties that are value priced. You can tell They've seen the numbers!
There is certainly a pulse that tells me the tide is slowly, slowly turning. The most interesting and telling numbers for me though are the price reductions. I was showing a property in Safety Harbor on Lower Matecumbe that had a $1M price reduction since it was listed!
As they say, Luck is when Opportunity meets Preparation. That being said, look at the Numbers, do your Research, find your Dream Home, make an Educated Offer and ....get Lucky! There's never been a better time than NOW.

To view the charts larger, right click on the chart as choose Save Picture As, and download it into your browser where you can view it larger.

Call me at 305.439.7730 for more information on insightful Buying opportunities in the Keys.

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