Hello Clients, Family & Friends,

We're thrilled to welcome you to our May eNewsletter! As we embrace the beautiful spring season here in the Florida Keys, we're excited to share the latest updates with you. Our commitment remains strong to keep you informed and ahead of the market, because staying informed is always #goodtoknow. As we enter into the lively month of May, our dedication continues to showcase the finest Florida Keys real estate set against the backdrop of nature and pristine beaches. If you have any real estate goals or questions, please don't hesitate to reach out; we're here to assist you.

Highlighted this month:

• Precise and current market statistics segmented by Neighborhood
• Our Featured Listing of the Month
• #Goodtoknow Real Estate insights
• Local News & Events

The Florida Keys real estate market is witnessing notable dynamics in the current landscape. Despite experiencing a surge in new listings, surpassing last year's figures by 26%, there's a marked decrease in properties going under contract, with a notable decline of 43%. However, amidst these fluctuations, the market continues to display resilience with a consistent upward trajectory in the average sale price. Keys-wide, the average sale price has reached $1,383,342 showcasing a significant uptick of 19% compared to the previous year. This trend underscores the enduring appeal and desirability of Florida Keys properties, despite the shifting patterns in supply and demand.

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

Indulge in the allure of Coastal living with this Eyebrow architecture home, honored with the 2023 Historic Preservation Award. Meticulously restored and updated in 2022, this 3 Bedroom, 2.5 Bathroom residence epitomizes timeless elegance and relaxed sophistication. Step onto the welcoming front porch, complete with a classic Porch Swing and charming Bahama Shutters, epitomizing quintessential Key West charm. Inside, the living spaces blend traditional elements with tropical flair, featuring crisp white walls, Dade County Pine, and tall windows framing lush views of the Tropical landscape. The main floor boasts a thoughtfully designed layout, with a Primary Bedroom featuring a new Bath addition and spacious Walk-in closet, ensuring accessibility and privacy. An exceptional highlight of this home is its soaring dining room ceiling, creating an unmatched ambiance for dining experiences. Additionally, the Bonus Room serves as a versatile space, doubling as a Library and potential Fourth Bedroom, complete with a cozy Loft reading nook. The kitchen seamlessly merges Historic charm with modern convenience, showcasing custom Thomasville Nouveau cabinetry, a Nantucket Fireclay Sink, Calacatta quartz countertops, and premium Cafe and Miele appliances. Upstairs, two spacious Guest Bedrooms and full bath offer a tranquil retreat, providing luxury, comfort, and privacy for visitors. Outside, discover a Resort styled lush tropical oasis that seamlessly extends the home's inviting interior. Relax on the covered deck or by the 30x10 Saltwater pool, accompanied by a charming resident mermaid. A unique historic Decorative Roof metal trim, newly installed Carport with dropdown storage, Electric car charger, and Shower elevate the outdoor experience, offering an unparalleled Key West atmosphere. You will be drawn to exploring the charming courtyard with brick pathways, indigenous plants, fruit trees, and Peaceful moments at this beautiful Key West home

When you put 20% down on a home using a mortgage loan, you own 20% and the lender owns 80%. As you make payments, most of the money goes to pay interest while some goes toward reducing your principal. Meanwhile, favorable market conditions may be increasing the market value of your home, giving you instant equity.

Equity is the amount of the home that you own, much like a savings account that pays interest on money you want to keep growing. After a few years, you may want to tap into that money to carry out home improvements, make a down payment on a second property, or pay off credit cards and other bills. Is it a good idea to use your equity?

The answer is this: you’re putting your home in deeper debt, so your reasons for using equity instead of another means of borrowing or consolidating must be worth the risk.

Home improvements are designed to add value to your home, a sure thing that will net you more money when you decide to sell it one day. Making a down payment on another home is riskier—as you’ll have two mortgages—but if you can afford it, you’ll have two properties potentially building equity.

Credit cards are unsecured debt so interest rates are high. Home equity loans are far less costly, so you could get much relief by paying credit cards off. However, you must avoid “reloading” the cards with new charges, which will take dedication and self-discipline.

The Key West Songwriters Festival is the largest festival of its kind in the world, and known as a career starter for top country talent. The festival has kicked off the careers of household names such as Kacey Musgraves, Florida Georgia Line, Jake Owen, Michael Ray, Randy Houser and Maren Morris. In its 27th year, KWSF has grown into a top destination for music lovers who flock to Key West for five days and nights of live music and storytelling from veteran songwriters and the next big hit-makers. THE FULL SCHEDULE CAN BE VIEWED ON THE OFFICIAL KWSF APP OR HERE.

May 1st-5th:

• Key West Songwriters Festival

May 2nd - 5th:

• I.CARE’s Trash Derby

May 3rd:

• Key West Outdoor Movies: Pixar's UP
• The Studios of Key West: Gallery Talk with Artist Anthony Mancuso

May 3rd-5th:

• 18th Annual TOM THUMB Marathon Bull & Cow Dolphin Tournament

May 4th:

• Cow Key Bridge Run: Cow Wars 2024 - May the 4th Be With Moo!

May 4th & 5th:

• Key West Island Market

May 5th:

• Happy Cinco de Mayo
• Sloppy Joe's 87th Anniversary at the Corner of Duval and Greene Streets

May 10th-11th:

• 18TH ANNUAL Mother’s Day Dolphin Tournament

May 11th:

• Reef Relief Annual Luau Fundraiser

May 12th:

• One Night of Queen

May 17th:

• Feed the Keys Food Drive

May 18th:

Proud to be a sponsor of the:

• Reelin' For The Cause Kids Fishing Tournament

May 18th & 19th:

• Keys 100 Race

May 22nd:

• Florida Keys Wildlife Society: Full Moon Kayak Excursion

May 26th:

• Schooner Wharf Bar: Minimal Regatta

May 27th: 

• Memorial Day
   

May 12th & 26th:

• Sherrif's Animal Farm Open House

Thursdays from 2-7pm:

• Truman Waterfront Farmers Market