The first quarter result for 2010 for sold properties is 404 homes sold a 37% increase over the same period in 2009.
Short Sales and Foreclosures accounted for 150 of those sales.
Of the 404 sales Key West led the way with 156 sales, the Upper Keys had 91 and the balance were from Mile Marker 74 to Key West.
The inventory is still crowded but has dropped 16% from last year.
The difference between final list price and sales price is now 91%, up from 87% at year end. During the peak years it was 95%. Prices are getting to where there is less margin between what a seller is willing to take and the buyer is willing to spend.
Pending sales are so strong that they should continue to support positive closed sales through spring on into summer.
The average for closings is around 60 to 90 days when financing is involved. Average closings use to take about 45 days. Interest rates are still low but have begun to trend up after the Fed stopped subsidizing rates the end of March.
I hope you find this information helpful. When you need a realtor please think of me to assist you with your real estate needs.
Rob Skeel , Realtor- e-Pro - Cell --305-393-6300 Email--rob@robskeel.com
Century 21 Keysearch Realty--877-660-4637
Web Site-- www.RobSkeel.com
Monday, April 19, 2010
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