Click here to view online with images.
 
 

October 2020

 

Hi Everyone, Hoping and praying that you are staying healthy and surviving as best you can as we all work through the ever changing challenges that we may face during this pandemic year. We are still working hard for you on the ground here so if there is any way I can help you, please let me know. Look forward to seeing you when you are here. Andy

Berkshire Hathaway HomeServices Knight & Gardner Realty

andy@keysrealestate.com   |   305-923-5753
www.ImagineThisKeyWest.com

Visit me on FacebookVisit me on Instagram
 
 

Here are the Numbers

 Deep Dive into Market Stats

 

The real estate market in Key West, Lower Keys and Middle Keys has faired extremely well through Covid-19. In those markets, year to date, we are seeing the number of sold homes outpacing last year by 2% but the real change that sticks out is the sold volume and average sale price.  Sold volume is up 6% and the average sale price is up 5%.  Inventory and interest rates are leading factors in our local real estate market.  Inventory is up slightly on some Keys but down slightly on others.  Overall, we continue to see low inventory on the market which is leading to upward pressure on our prices.

For the most accurate and updated data trends on your island or in your neighborhood, reach out to your Berkshire Hathaway Forever Agent today!

Featured property of the month

IN THE HEART OF CASA MARINA
727 Washington Street, Key West | Listing ID 591415

Las Casitas: Retreat to this fabulous estate where tranquility, privacy and seclusion is paramount. This one of a kind home, utilizes its 11,000 sq ft lot to showcase a stunning courtyard surrounded by your home and separate cottages. Features: French doors throughout, Cathedral ceilings, Gourmet Kitchen with top of the line appliances, 2 pools, spa, lush tropical foliage,Efficiency Apartment, full generator and so much more.

4 Beds / 4 Full / 2 Half Baths / Pool / Spa / 2 Car Garage / Off-Street Parking 4+

Offered @ $3,999,000 

 -

- PARADE OF HOMES -
MEGA OPEN HOUSE EVENT!

 

We invite you to our Key West 
Parade of Homes Mega Open House Event October 23rd from 11-3pm!

Don't miss the chance to see some of the best properties in PARADISE during out Parade of Homes!

 

See www.keysrealestate.com for a full list of Open Houses and check our Facebook page!

HOMEBUYERS' ADVICE

What Post-Covid Buyers Seek in Their Next Home

Do homebuyers want the same things in their next home as they did before the COVID pandemic? In some ways, yes, and in others, no. According to the latest summer Realtor.com survey, post-COVID homebuyers are willing to spend more money on a home, have saved more money toward a down payment as they sheltered in place, and plan to buy a home sooner than they did in the spring of 2020.

A greater majority of homebuyers surveyed also said they want a three-bedroom home, with two bathrooms, an updated kitchen, and a garage. In a comparison of surveys conducted in both the spring and summer, a notable share of homebuyers wanting move-in ready homes has gone up 10 percent and six percent more buyers are willing to take on longer commutes to get the home they want. In addition, low mortgage interest rates, combined with additional personal savings, are making conditions attractive for them to buy a larger home in a nicer neighborhood.

Six percent fewer homebuyers plan to put more earnest money down, plan to offer above listing price, or offer all cash. Three percent plan to put down more than a 20 percent down-payment.    

The trend in these numbers appears to point toward less willingness on the part of homebuyers to compromise on what they want. They may spend more for a home, but plan to preserve as much cash as possible. Homebuyers may be planning to stay in their next homes for a longer period. 

HOMEBUYERS’ ADVICE

What Makes A House Seem Spooky?

Have you ever toured a home and just wanted to run right back outside? Maybe something hit you negatively, but it could be easily fixed. If the location and price are good, updates could be the answer. Ask yourself: what would you do to make a creepy home warm and inviting?

Improve lighting –Dark rooms can be spooky. Low light, especially from too few windows, can also be depressing. Can windows be enlarged? Can the electrical be updated to allow for the installation of sconces and ceiling lights? 

Re-design living areas – Low ceilings, awkward layouts, or rooms too small for their purpose can make a home feel claustrophobic. Can the ceilings be raised into the attic? Can a wall or two be removed? Can space be “borrowed” from another room for better flow?  

Simple maintenance – Keeping a home in good condition shows that it’s loved, while neglect makes homebuyers feel uncomfortable. Can obvious flaws be fixed and at what cost? 

Freshen - If the problem is odor, it could be pets, smoking, old furnishings, or musty spaces. Dampness can suggest a leak in bathrooms or kitchens.  Can the smell be identified and eliminated through cleaning or remodeling?

Modern updates – Homes stuck in the past need updating which can eliminate a lot of problems? Is there enough room in the budget to remodel to get the home to meet your criteria?

You could turn the spookiest house in the neighborhood into the home of your dreams.

LOCAL NEWS

2020 Key West Bubba Awards

On behalf of the Keys Weekly, our partners at Florida Keys Media and our sponsors—we are proud to support Community Wins with each and every one of you. Typically, this stage of the voting would be open to any and all entries. However, due to the impact of Covid-19, as many businesses continue to struggle, we decided to alter this year’s competition and list the last six years of Bubbas winners in each category. And most of all, find a way to give back to an amazing and much needed cause during this time.

With so many canceled events, many of our workers and residents are in need of assistance now more than ever. So please thank our sponsors for supporting Community Wins—which supports the housing needs of Aids Help, FKOC, Sister Season Fund and Samuel’s House. And we ask that our voters consider supporting as well. And remember, this is a celebration of why we love Key West. We are, in fact, One Human Family. Voting is subjective. Love and appreciation for the community is not. There are simply no losers whether someone is on the ballot or not. So join us and have fun…and please support Community Wins together.  

  • Voting Begins Friday, Sept. 18 at 5 p.m. EST
  • Voting Ends Friday, Oct. 16 at 5 p.m. EST
  • Everyone is eligible to vote once per week.
  • Look for weekly updates at www.keysweekly.com and from our radio partners at Florida Keys Media 
  • Please visit CFFK.ORG/COMMUNITYWINS  to support. 
  • Special thanks to Niles Sales & Service | Key West Butterfly & Nature Conservatory | First State Bank | Waste Management | Horan Law | Lower Keys Medical Center | The Key West Theater
 
 
Share this with someone:

FL Lic #: SL3015633
336 Duval St. Key West, FL 33040

©2020 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.