Watch this short informative video to see how Hurricane Irma temporarily affected the Florida Keys real estate market during the month of September. Come back next month for market statistics from October and I guarantee they will be much different and again in November and December. The Keys are cleaning up and rebuilding as quickly and efficiently as possible. This was a devasting storm for the Lower Keys area especially, no doubt about it. Many people are displaced from their homes and lost everything. I want to thank the volunteers who have volunteered their time and dontated funds to help provide relief for these victims. We are #Keysstrong and rebuilding. On the bright side, these homes will be rebuilt to todays building codes; some of the strongest codes in the country. We will come out of this stronger and better than ever. It will take some time and many tears of sorrow, strength and happiness but we will get there. We are well on our way.
As you will see in the video, the biggest change in numbers was the number of units sold compared to August and to September 2016. This difference is due to not being able to close out most pending transactions throughout the month of September. Everything was on hold due to utility shortages and folks busy with clean up and not back in their offices yet or not yet returning after evacuating. I will be really interested to see the statistics when October closes out.
In conclusion, I have to say this is a great time to buy or sell in the Florida Keys. Inventory is down. A lot of homes are temporarily off the market while they work with their insurance companies. If your home in on the market you should get a lot of attention with less competition. Also, every buyer has their eyes on the Keys right now. Our phones have been ringing off the hook. Great time to buy as sellers may be a little more motivated to sell and prices may come down a bit, in a healthy way. Prices had been on the rise for sometime. The video will tell you there is a disconnect between median list price and median sales price.
Give a Star Properties agent a call today to discuss your real estate goals and plans. We want to know how we can help you achieve your dreams! We are standing by as always. Reach for a star!
All my best,
Broker Jaclyn Kelley