Whether you're looking to buy, sell, or simply keep an eye on the market, here’s what the latest data reveals.
October saw 1,288 active listings, a 31.3% increase compared to the same time last year. However, sold listings dropped by 10.2% year-over-year, with only 114 properties sold in October. This disparity points to a more competitive market for sellers, with buyers having more options to choose from.
The average list price increased by 5.24%, reaching $1,915,243, while the median list price remained nearly unchanged at $1,150,000. Interestingly, the average sale price dipped by 8.19%, settling at $1,261,550. This could suggest buyers are negotiating more favorable deals, especially for higher-priced homes.
The absorption rate—a key measure of how quickly homes sell—climbed to 9.12 months of inventory in October, up 35.71% from last year. For sellers, this indicates the need for strategic pricing and standout marketing to attract buyers in a slowing market.
The current market offers more choices and negotiating power. With inventory up and sale prices showing slight declines, this is an opportune time to explore properties and make offers that align with your budget and goals. Learn how buyers can best prepare for the current Florida Keys Real Estate market and strategies to succeed in a buyer's market.
While demand remains, pricing competitively is crucial to stand out in a market with rising inventory. Professional staging, strong online marketing, and targeted outreach are essential strategies to attract serious buyers and close deals. Read more about seller advantages in the current Florida Keys Real Estate Market and how sellers can maximize their price in the current market.
The Florida Keys market is always evolving, and October’s trends highlight the importance of working with a knowledgeable, experienced team. Whether you’re planning to buy or sell, The Lindback Team is here to guide you with insights, strategy, and unwavering commitment to your success. Contact us today to make your next move in the Keys!
