Hello Clients, Family & Friends!  

We are excited to bring you our September eNewsletter. One of our goals is to keep you ahead of the market and be in the know, because that's #goodtoknow.  We will continue marketing Florida Keys real estate at the highest level.  Please let me know if I can help you with your real estate goals.

Featured this month:

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

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

What differentiates this property from most is that it has been the beneficiary of a total remodel not just a surface makeover. 908 Catherine has been restored from the inside out, including new plumbing, electrical, roof and impact windows, as well as many nuances that must be seen. Located in the coveted X flood zone, just a few blocks from the beach and steps from some of the best locally owned restaurants, the property features a rustic chic design artfully blended with a touch of coastal. Fall in love with the original Dade County pine exposed beams and natural palette which includes recycled glass lighting, oak floors, Calacatta marble baths and European quartz countertops. The space is wonderful for intimate gatherings and contains a large kitchen bar which overlooks a luxuriously heated and chilled Zen pool complete with a waterfall. Once outside an expansive outdoor patio area and lush greenery awaits, including a mature ruby red mango tree. Each bedroom includes an ensuite bath and in addition a half bath on the main floor for convenience. Ample storage is available as well as an office space for two desktops. Choose the functionality that fits your lifestyle as there are two large master bedrooms to broaden your options: one on the first floor and another upstairs overlooking the pool. The property also possesses a non-transient monthly rental license. This positions it as an ideal vacation home considering its close proximity to all of the major Key West attractions while remaining off the beaten path enough to allow some seclusion.

Article provided by Kerry Smith & Florida Realtors
Photo provided by Sollina Images, Getty Images

While the number of pending sales fell year-to-year, they rose 0.9% month-to-month for the second time, sparking hope that the market may be bouncing back.

WASHINGTON – Pending home sales increased 0.9% in July for the second consecutive month, according to the National Association of Realtors® (NAR). The two increases spark hope among some people that the market hit bottom and is now slowly returning.

Year-to-year, however, pending sales were down nationally and in all four regions tracked by NAR. The Northeast and Midwest posted monthly losses, while sales in the South and West grew.

The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose to 77.6 in July, while year-to-year pending transactions fell by 14.0%. An index of 100 is equal to the level of contract activity in 2001.

“The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple homebuying offers,” says NAR Chief Economist Lawrence Yun. “Jobs are being added and, thereby, enlarging the pool of prospective homebuyers. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.”

Pending home sales regional breakdown: The Northeast PHSI shrank 5.8% from last month to 63.2, a decrease of 20.2% from July 2022. The Midwest index fell 0.4% to 77.5 in July, down 16.0% from one year ago.

The South PHSI rose 2.0% to 95.3 in July, though it was down 10.9% from the prior year. The West index improved 6.2% in July to 61.3, dropping 12.8% from July 2022.

“Interestingly, the West region experienced a meaningful price decline in the past year and buyers are quickly returning as a result,” Yun says.

LIVING WITH CANCER IS A REALITY FACED BY THOUSANDS OF CHILDREN ALL OVER THE WORLD.

Here are a few things we can do to help kids with cancer:

• Raise awareness and volunteer.
• Promote gold. Wear gold this month: hair ties and ribbons, shoelaces, t-shirts, crowns, bling with a purpose and pediatric cancer pins will all do the trick.
• Donate to The Sunshine Kids, a non-profit organization dedicated to children with cancer. 

Berkshire Hathaway HomeServices has been a national sponsor of this organization for over 30 years and has played a major role through its many network fundraising activities, helping to put smiles on the faces of kids with cancer everywhere.

Learn more. www.sunshinekids.org

When: Sunday, September 24th | 4-9pm
Location: Irish Kevins

"Come join us for an evening of music and fun at our Annual Halfway Thru Hurricane Season Party. Raffles, 50/50, music and more await you. And don't forget there will be a silent auction featuring items from the world of fishing and more. Proceeds will benefit the Jose Wejebe Spanish Fly Memorial Foundation.

Live entertainment will be provided by Oren Polak and Jeff Harris.

This year we have added something new...A Beer Chugging Contest.. Online registration is available through 12 noon the day of the event and in-person registration by 6:30. The contest will begin at 7pm. The prize will be a pair of Costa Sunglasses and a Custom Jose Wejebe Spanish Fly Memorial Foundation Yeti Tumbler (Value $400). Come help support our cause and enjoy the party with us!"

August 31st - Sept 4th:

• Key West BrewFest

September 2nd-3rd:

• Key West Island Market

September 3rd:

• 4th Annual Shots & Giggles Rib Cook-Off

September 4th:

• Happy Labor Day!

September 6th-10th

• Womenfest

September 7th-10th:

• Lionfish Derby & Festival

September 11th:

• Patriot Day

September 12th:

• Florida Keys Nonprofit Day

eptember 16th & 17th:

• BHHS Parade of Homes - MEGA Open House Event

September 22nd-24th

• 23rd Annual Take Stock in Children Backcountry Challenge

September 23rd:

• Happy 1st day of Fall

September 24th:

• Halfway Thru Hurricane Season Party!

September 30th:

• Key West Paddle Classic
• Children's Fall Festival

September 7th, 14th, 21st, 28th: Truman Waterfront Farmers Market

September 10th & 24th: Sheriff’s Animal Farm Open House