2nd Quarter • Florida Keys • Market Data • real estate market • Recent Sales • July 2, 2013

2nd Quarter Stats – 2013 compared to 2012

by Tracy Larson

Click on the image to enlarge

As Realtors, there is one question we get asked on an almost daily basis – How is the real estate market doing?

The answer . . . Pretty good!

Here is a comparison of the second quarter of 2013 to the same time period last year. You can see that the average sales price in every category is climbing upward. Additionally, there have been more closings in nearly each category. The combination of increased sales and higher average sales prices is a good indication that the market is not only stable, but steadily increasing.

Naturally, the Realtor community is hoping that this trend will continue. Yes, there will always be that handful of sales that come in lower than expected. These sales are usually distressed sales such as bank owned properties or short sales. But overall, the numbers show that the market is improving.

Interest rates are still low, and there are indications that they may rise again soon. Lower interest rates are most likely one of the main reasons we’ve seen such positive results in the market this year. It may sound like a cliche, but if you are considering a purchase in the near future, you will want to do it soon while rates are still low and there is still a good inventory to choose from.

If you’d like to learn more about the real estate market in the Keys, don’t hesitate to call or email me using the contact button at the top of this page.

Florida Keys • Just Sold • Key Largo • Port Largo • Recent Sales • Solar Power • July 1, 2013

Just Sold! Great Key Largo home with impressive solar power system

by Tracy Larson

72 Bahama Avenue

Spacious open floor plan

It’s always bittersweet when a listing you love sells. This home was one of those sales. Located in a great Key Largo neighborhood, this home’s big feature was the solar panel system that covered the roof of the home. One of the largest residential solar systems in the Keys, it allowed the owners to leave the AC on to maintain a consistent temperature all day, every day. It generated almost all of the home’s electrical needs during the day. In addition, it had roll down hurricane shutters on every window, a large open floor plan, screened patio, covered parking and a legal, above flood ground level enclosure. It was a great listing and I loved showing it. Listed at $369,000, it sold for $365,500 and was on the market just 7 days when it went under contract.

Learn more about this great home at www.72BahamaAvenue.

Florida Keys • Just Sold • Key Largo • Port Largo • Recent Sales • Solar Power • July 1, 2013

Just Sold! Great Key Largo home with impressive solar power system

by Tracy Larson

72 Bahama Avenue

Spacious open floor plan

It’s always bittersweet when a listing you love sells. This home was one of those sales. Located in a great Key Largo neighborhood, this home’s big feature was the solar panel system that covered the roof of the home. One of the largest residential solar systems in the Keys, it allowed the owners to leave the AC on to maintain a consistent temperature all day, every day. It generated almost all of the home’s electrical needs during the day. In addition, it had roll down hurricane shutters on every window, a large open floor plan, screened patio, covered parking and a legal, above flood ground level enclosure. It was a great listing and I loved showing it. Listed at $369,000, it sold for $365,500 and was on the market just 7 days when it went under contract.

Learn more about this great home at www.72BahamaAvenue.

Uncategorized • June 10, 2013

New Listing – Waterfront lot with active permits and panotamic bay views!

by Tracy Larson

Artist’s rendering of front of home

Located
on a private dead-end street, this location will offer panoramic bay
views from your new home. With it’s location in Tavernier, everything
is within easy reach – including grocery stores, schools, local marinas
churches, parks and Mariner’s Hospital.

Artist’s rendering of waterfront side of home

The property overlooks a wildlife area, so there are no other homes directly
across the canal, adding privacy. Construction has begun, with the
pilings, concrete foundation and concrete dock w/davit pads already in
place on the lot. Price includes lot, active permits and full set of
plans for a 3 BD/3.5 BA Keys style home with over 3,500 sq. ft. of
living space. Home will feature ground level foyer, main living areas on
1st level and private master suite on 2nd level Each level has open
patios overlooking the water.

Boating access is easy, with immediate Bay access and very close to Tavernier Creek for quick Ocean access.

Start building today and make your dream if owning a home in the Florida Keys a reality!

For more information, visit www.360SouthCoconutPalm.com

Uncategorized • June 10, 2013

New Listing – Waterfront lot with active permits and panotamic bay views!

by Tracy Larson

Artist’s rendering of front of home

Located
on a private dead-end street, this location will offer panoramic bay
views from your new home. With it’s location in Tavernier, everything
is within easy reach – including grocery stores, schools, local marinas
churches, parks and Mariner’s Hospital.

Artist’s rendering of waterfront side of home

The property overlooks a wildlife area, so there are no other homes directly
across the canal, adding privacy. Construction has begun, with the
pilings, concrete foundation and concrete dock w/davit pads already in
place on the lot. Price includes lot, active permits and full set of
plans for a 3 BD/3.5 BA Keys style home with over 3,500 sq. ft. of
living space. Home will feature ground level foyer, main living areas on
1st level and private master suite on 2nd level Each level has open
patios overlooking the water.

Boating access is easy, with immediate Bay access and very close to Tavernier Creek for quick Ocean access.

Start building today and make your dream if owning a home in the Florida Keys a reality!

For more information, visit www.360SouthCoconutPalm.com

Affordable Keys Home • Bank Owned • Florida Keys • Key Largo • New Listing • pending sales • Sold Listings • Tavernaero • June 3, 2013

May 2013 Real Estate Activity, Upper Florida Keys

by Tracy Larson

May was an active month in the Upper Keys. 91 new listings were added to the market, 78 properties went under contract and 79 closings took place.

New Listing – 470 Sunset Drive

Among the new listings, there is a true fixer-upper listed for just $174,900. This 2 bedroom, 1 bath home has just over 1,000 sq. ft. of living space and is a nice neighborhood. It is also a Fannie Mae HomePath property, making a purchase possible with as little as 3% down.

Pending Sale – 95401 Overseas Hwy.

Pending listings include a 2 bedroom, 1 bath home that was just listed for just $134,900. This home sold very quickly within a matter of days. This all concrete home is located on the Overseas Highway at MM 95.4 and is in good condition with tile flooring throughout.

Closed Sale – 209 N. Airport Road

Sold listings included a large concrete home on a private airstrip with a boat slip in the marina. This was a bank owned home and was not yet completed. I imagine that we may see this property back on the market for a higher price once the new owner completes the interior. It was listed for $486,000 and sold for $64,000 over asking price.

To view the listings, follow the links below:

New Listings
Pending Sales
Closed Sales

Listing information is gathered from the Florida Keys Multiple
Listing Service (MLS). Listing links will automatically expire after 7/3/2013

Affordable Keys Home • Bank Owned • Florida Keys • Key Largo • New Listing • pending sales • Sold Listings • Tavernaero • June 3, 2013

May 2013 Real Estate Activity, Upper Florida Keys

by Tracy Larson

May was an active month in the Upper Keys. 91 new listings were added to the market, 78 properties went under contract and 79 closings took place.

New Listing – 470 Sunset Drive

Among the new listings, there is a true fixer-upper listed for just $174,900. This 2 bedroom, 1 bath home has just over 1,000 sq. ft. of living space and is a nice neighborhood. It is also a Fannie Mae HomePath property, making a purchase possible with as little as 3% down.

Pending Sale – 95401 Overseas Hwy.

Pending listings include a 2 bedroom, 1 bath home that was just listed for just $134,900. This home sold very quickly within a matter of days. This all concrete home is located on the Overseas Highway at MM 95.4 and is in good condition with tile flooring throughout.

Closed Sale – 209 N. Airport Road

Sold listings included a large concrete home on a private airstrip with a boat slip in the marina. This was a bank owned home and was not yet completed. I imagine that we may see this property back on the market for a higher price once the new owner completes the interior. It was listed for $486,000 and sold for $64,000 over asking price.

To view the listings, follow the links below:

New Listings
Pending Sales
Closed Sales

Listing information is gathered from the Florida Keys Multiple
Listing Service (MLS). Listing links will automatically expire after 7/3/2013

condos • dry lot homes • Florida Keys • Market Activity • Recent Sales • single family homes • Stats • Upper Keys • April 23, 2013

1st Quarter of 2012 vs 1st Quarter of 2013.

by Tracy Larson

Click thumbnail to enlarge image

The 2013 selling season started strong and continues to be strong late into the season. Prices are starting to inch upwards in most property categories, with many experiencing a shorter marketing time.

Here are the numbers comparing the first quarters of 2012 and 2013 in the Upper Keys. Open water properties had a slight increase in average sales prices as well as number of properties sold.

Canal front homes are selling quicker than they were in 2012. There was a slight dip in average sales price, but that was due to 4 very low priced bank owned properties and short sale properties that sold. Two of them were in need of significant repair before they could be lived in and sold in the low $200,000’s. I suspect that we will see those properties come back on the market, with new renovations and a new listing price as well. I am confident that we will see an increase in average sales price when we compare the 2nd quarters of each year.

Dry lot homes are doing well, with both an increase in price and number of listings sold. They are also selling quicker than they did in 2012.

Condos remain steady, with more properties selling in 2013 than in 2012. One of the biggest obstacles facing condos right now is property insurance, with regulations making it harder to find and more expensive. This may drive up the association fees a bit, which is another concern for buyers wishing to purchase a condo here in the Keys,

As always, properties that are priced correctly will sell in a relatively short amount of time. A new listing that I have at 72 Bahama Avenue in Key Largo was priced very competitively among comparable listings and was under contract in just 7 days, with multiple showings and offers.

Stay tuned to see what the second quarter of this year brings.

condos • dry lot homes • Florida Keys • Market Activity • Recent Sales • single family homes • Stats • Upper Keys • April 23, 2013

1st Quarter of 2012 vs 1st Quarter of 2013.

by Tracy Larson

Click thumbnail to enlarge image

The 2013 selling season started strong and continues to be strong late into the season. Prices are starting to inch upwards in most property categories, with many experiencing a shorter marketing time.

Here are the numbers comparing the first quarters of 2012 and 2013 in the Upper Keys. Open water properties had a slight increase in average sales prices as well as number of properties sold.

Canal front homes are selling quicker than they were in 2012. There was a slight dip in average sales price, but that was due to 4 very low priced bank owned properties and short sale properties that sold. Two of them were in need of significant repair before they could be lived in and sold in the low $200,000’s. I suspect that we will see those properties come back on the market, with new renovations and a new listing price as well. I am confident that we will see an increase in average sales price when we compare the 2nd quarters of each year.

Dry lot homes are doing well, with both an increase in price and number of listings sold. They are also selling quicker than they did in 2012.

Condos remain steady, with more properties selling in 2013 than in 2012. One of the biggest obstacles facing condos right now is property insurance, with regulations making it harder to find and more expensive. This may drive up the association fees a bit, which is another concern for buyers wishing to purchase a condo here in the Keys,

As always, properties that are priced correctly will sell in a relatively short amount of time. A new listing that I have at 72 Bahama Avenue in Key Largo was priced very competitively among comparable listings and was under contract in just 7 days, with multiple showings and offers.

Stay tuned to see what the second quarter of this year brings.

Century 21 • Florida Keys • Key Largo • New Listing • Port Largo • single family home • Solar Power • Tracy Larson • April 12, 2013

New Key Largo Listing in Desirable Port Largo Neighborhood

by Tracy Larson

72 Bahama Avenue – Port Largo

Harness
the sun in this beautiful three bedroom, two bath home in Port Largo. This home features an impressive solar panel system on the metal roof – one of the largest in the Upper Keys. The open dining and living area separate the master bedroom from the guest area, which has privacy doors from the living room. The kitchen features newer appliances and a pass-thru window to the dining room, as well as a large laundry and food pantry closet. All windows have roll-down hurricane shutters

72 Bahama Avenue – Living Room

Downstairs you’ll find an enclosure that is legal and above flood, providing ample storage. There is covered parking for your cars and/or small boat.

The homeowners park is very close by and features a sandy beach, picnic areas and a community boat ramp. Additionally, there is another community park with baseball fields, water park and swimming pool, fitness track and more.

Contact me for more information or to arrange a private showing.

Offered at $369,000

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