Hello Clients, Family & Friends- 

It's the most wonderful time of the year to be in the Tropical Paradise that we call home! The coconut palms are decorated, the Key West Bight Marina lights are twinkling, and we are ready for the Holiday Season to arrive. This month we are bringing you: 

• The most accurate and updated market statistics
  by Neighborhood and Key
• Featured Listing of the Month
• Local Events
• #Goodtoknow Real Estate information

We will continue working hard to keep you up to date and ahead of the market, and always strive to be your #ForeverAgent with the Forever Brand of Berkshire Hathaway.

Our team studies the market closely to keep you ahead of the market and be in the know.  Over the past several months we have continued to see the same trend- Economics 101- Low Supply and Strong Demand, leading to upward pressure on real estate prices.  Although we are selling fewer properties in the Keys, demand remains strong and prices continue to increase. 

Click on the "Deep Dive Into" photo for a dive into market trends for all the Florida Keys and then broken down by regions.  Key West to Shark Key, North of Shark Key to Big Pine Key, the Middle Keys including Marathon and Key Colony Beach, and then the Upper Keys.  Interest rates and inventory continue to push the residential real estate market forward. 

As always for the most accurate and updated data trends on your island or for your property, reach out to me, your #foreveragent today at www.keysrealestate.com

Welcome to the Meadows. 823 Georgia Street is a beautifully updated Conch home with over 2,400 square feet of indoor living. First, you are invited in to the home on a grand, wrapping front porch which is a great place for book, beverage, or to sit a watch the day go by. The property provides plenty of space to stretch out with 4 bedrooms, a large loft, 3.5 baths, and an outdoor shower. Cathedral ceilings, first floor master suite, bathroom access to every bedroom and off-street parking are just a few features. The open floor plan overlooks the pool, spa, and large outdoor deck space within the beautifully landscaped property complete with lighting for after the sun sets. In the front yard lives one of the largest known boxwood trees in the country. A modern, u-shaped kitchen with custom cabinetry, HVAC upgrades, Class A hurricane protection, decorative shutters, oak floors, hidden storage and laundry are details not overlooked. The current owner has established a successful vacation rental history, making it a perfect income-producing property if you so desire. Just a short walk or bike ride into town and close to Garrison Bight as well. This home is ready for you to start making memories with your family and friends!

MLS # 603126

On Tuesday December 6, 2022 the City Commission of Key West will discuss monthly vacation rentals.  As it stands right now, any property in Key West can be rented for a minimum of one-month.  The City Commission is discussing limiting that to a minimum rental of six-months.  As you can imagine, Realtors have been standing firm on this property rights issue.  If you have feelings on it, please let me know so I can voice your opinion at City Hall.  I also encourage you to e-mail or call your City Commissioner.  Please let me know if you need that contact information and I can send it to you. 

It’s been the year for contradictions in the housing market. Housing sales are decelerating, home builders are slowing down production and mortgage interest rates are more than double what they were a year ago. Mortgage applications are at their lowest level in 22 years. However, home prices remain near record highs, driven by low supplies, household formations by Millennial and Gen-Z homebuyers, and a strong job market. Is now the time to buy, or should you wait for housing prices and rates to come down?

Timing the housing market is seldom a good idea, especially during market volatility. Only you know if the time is right for you to become a homeowner, but if you’re uncertain, consider the following:

1. Even if home prices fall, they won’t do so everywhere. Prices in areas with plentiful jobs may go flat for a while, but they won’t fall significantly.
2. Efforts to curb inflation will eventually result in lower mortgage interest rates.
3. Buying a home is a long-term investment and a hedge against inflation. Buy when you plan to stay in the home for several years or longer, allowing you time to build equity and recover your closing costs.
4. Buy when it’s affordable and the right lifestyle choice, even if you have to choose a smaller home or a lesser neighborhood.
5. The smartest investors don’t wait for the bottom to buy, because there’s no predicting when that will be, if ever. Waiting could price you out of the market.

Saturday, December 10th | 8:00pm

"Mistletoe goes on the mast and running lights will twinkle in the appropriate red and green holiday colors for the 31st Annual Schooner Wharf Bar & Galley Lighted Boat Parade, Saturday, December 10th. The parade begins at 8:00 p.m. but the festivities start early on the Harbor Walk of Lights Bight Before Christmas Celebration. The elementary students with the Bahama Village Steel Pan Band entertain with calypso Christmas music at 6:00 pm. Followed by a group of the island’s favorite musicians playing classic holiday tunes mixed with contemporary songs and classics.

The community family-friendly parade begins in the Historic Seaport and makes a close pass in front of Schooner Wharf Bar and the judge’s stand for the best view of our creative mariner’s efforts. The variety is amazing and endless as dolphins and other aquatic creatures leap out of the sea to dazzle us all. Past years have had Huge Conch Shells, Candy Canes, Grinch’s, Messages of Peace on Earth and Support Our Troops, Sea Monsters, as well as Santa’s sleigh pulled by dolphins. Vessels range from classic Schooners with Christmas trees on the mast, small fishing vessels with dancing seahorses, to kayaks and dinghies decked out in their holiday best!"

article courtesy of www.schoonerwharf.com
photo courtesy of the Keys Weekly

December 1: FL Keys SPCA POSH (Paws Often Steal Hearts)  - SPCA Event

December 1 - 4:  Coast is Clear Music & Art Festival @ the Lighthouse

December 1, 8, 15, 22, 29: Truman Waterfront Market

December 2: 1st Fridays on Fleming ST – Shop Local 6-9 PM on 500 Block

December 2: The BeLighted Bike Ride and Holiday Village

December 3: Market on the Green – Between Gates Hotel and 24 North

December 3:  Key West Paddle Classic

December 3: Key West Holiday Parade

December 4: Locals Day @ Key West Botanical Gardens

December 4: Locals Day @ Historic Tours of America: HTA offers free admission to the Aquarium, the Shipwreck Museum and Little White House

December 4: Annual Tree Trimming and Toys for Tots and Angels Just 4 Kids Drive @ Schooner Wharf

December 4: Eaton Street Christmas Stroll

December 4 & 18: Key West Artisan Market

December 6, 13, 20, 27: Glow Hours on Hugh’s View

December 7: Stock Island Holiday Lighting Ceremony @ Fishbusterz

December 8, 11-13, 16-23: Conch Tour Train Holiday Sights & Festive Nights Tour

December 8 - 23: Old Town Trollies Holiday Sights & Festive Nights Tour

December 9: Holiday Bazaar & Concert at Customs House

December 9 & 16: Holiday Historic Inns Tour

December 10: Stock Island Art Stroll

December 10: Schooner Wharf Lighted Boat Parade

December 10: Parade of Paws & Holiday Bazaar - SPCA Event

December 11:  Tri Conch Republic Triathlon

December 11:  Christmas on the Sheriff’s Animal Farm

December 17: Rudolph Red Nose 5K Run

December 17: Key West Botanical Gardens Native Plant Sale

December 18: BHHS K & G Parade of Homes

December 28-29: Key West Home Tours

December 31:  Key West Dachshund Walk on Fleming

December 31 - New Year’s Eve Famous Celebrations: 

• Lowering of the Pirate Wench at Schooner Wharf
• Dropping of the Conch Shell at Sloppy Joe’s
• The Red High Heel Drop Starring Sushi
• A Key Lime Wedge Drop

*Events subject to change without notice