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august 2021

 

Hello Clients, Family & Friends.  First off, we hope you all are healthy and safe.  A home has a new meaning to most of us. We are here on the ground in the Keys if we can help you with anything if you are away.

Whether you are looking to buy or sell, I can offer the highest levels in real estate expertise and professionalism.  Don’t hesitate to contact me and allow me to help guide you through that process!  

Berkshire Hathaway HomeServices
Keys Real Estate | 
Knight & Gardner Realty

info@keysrealestate.com   |   305-294-5155
www.keysrealestate.com

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MARKET UPDATE

2021 FIRST 1/2 OF THE YEAR MARKET RECAP

Low supply and unprecedented demand continue to shape the Florida Keys real estate market. 2021 has been a year like none other in the real estate market. Our Broker, Will Langley takes a deep dive into the facts and factors driving the market today and into the future to keep you ahead of the market.

No matter what happens in the market, we will monitor the housing trends closely so you can stay on top of the market and be in the know: That is GOOD TO KNOW.

Our vision is to have the best and most respected team of real estate agents in the Florida Keys. If you’re looking to make a move in real estate, let’s connect and we can point you in the right direction.                       **Press play to watch the entire video**

Here are the Numbers

DEEP DIVE INTO MARKET STATS


We continued to see low supply, fewer new listings, mix that with increased demand and that leads to upward pressure on prices.

Click on the "Market Review" photo for a deep 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 our forever agents today at www.keysrealestate.com

BEST REAL ESTATE OFFICE 2017, 2018, 2019, 2020, 2021

2021 KEY WEST PEOPLE'S CHOICE AWARDS

As of this year, from your support and generosity, along with that of the gracious sponsors, there has been over $100,000 raised for community nonprofits and organizations.

Thank You, Thank You, Thank You!

Berkshire Hathaway HomeServices Keys Real Estate | Knight & Gardner Realty was named "Best Real Estate Office" in the 2021 Keys Weekly People's Choice Award.  We are honored to be selected for this award by the community for the 5th consecutive year.

We appreciate the support and thank you to all that cast your vote for us. Congratulations to all the 2021 winners.

SELECT THE IMAGE FOR A
COMPLETE LIST OF  WINNERS

Featured property of the month

BE THE FIRST OWNERS
1217 Johnson Street, Key West | Listing ID 596856

PRECONSTRUCTION.....Be the first owners to step into this luxurious 5 bedroom, 5 bath, two-story newly constructed home. Built to cat 5 hurricane standards including impact windows & doors, Hardie siding and above base flood. It's quiet location, parking and easy access to the beach and downtown, make this a highly sought-after area. Imagine hosting family & friends in over 3,000 sq ft of opulence. Upon entering from the large covered porch, you will be surrounded by a pristine space with modern flair. This lavish estate features a gourmet kitchen, Viking appliances and elegant lighting that will appeal to the most discerning chefs. The kitchen space opens to the living room, where you will be amazed by its uniquely engineered infinity-style glass doors that afford unobstructed views of the garden, 10x25 salt-water pool & waterfall feature. A sitting area off the entry, leads to the left wing of the first floor. This wing offers a first floor primary suite with a substantial walk-in closet, spa-like ensuite bath and private deck. There is also a generously sized home office that can double as a bedroom, with a separate full bath. A modern staircase leads to the second floor with an additional 3 bedrooms and 3 bathrooms. On the right wing is another luxurious primary suite complete with a balcony overlooking the pool, garden and covered lanai. The suite includes a walk-in closet and leads onto a spa like ensuite bath complete with stand alone soaking tub, his and hers walk-in shower and double vanity. An exclusive gym completes this private sanctuary. On the left wing is a third primary suite for special guests, having the benefit of a balcony overlooking the pool and garden, their own ensuite complete with double vanity and a walk-in closet. This wing has a further guest bedroom with a closet. Don't miss the amazing vistas from the 2nd floor sky bridge where you can enjoy views of the lower level as well as the outdoor areas. Come enjoy this modern masterpiece.

HOMEbuyers' ADVICE

IS IT TIME TO BUILD YOUR LUXURY HOME?

The April 2021 market report from the National Association of REALTORS had a seeming contradiction. It was the third month in a row that existing home sales declined, yet home prices hit an all-time high of $329,100.

Typically, when home sales fall, prices dip as well, signaling a developing softness in the market. But thanks to a perfect storm of circumstances, buyer demand is stronger than ever, despite rising mortgage rates and less affordability. Housing supply is down over 28% with the unsold inventory at a two-month supply, down from a 3.3-month supply from the previous year. Properties lasted 18 days on the market, from 29 days the year before, and 83% of homes sold in less than a month.

According to the National Association of Home Builders, the new home building also fell in April. Many ports closed, hampering the transportation of materials. Lumber, steel, resin (PVC) and other shortages have driven construction costs up by 12 percent year-over-year, causing many builders to pause building projects.

Yet, it’s a good time to build your luxury dream home. You may pay more to build this year, but the conditions that are hampering the market will result in higher value for your property. Forbes.com quotes real estate experts who say that home prices will continue to rise. Also, if you build now, you can include features that will appeal strongly to the post-pandemic buyer of the future, such as expanded outdoor areas, office spaces and smart home/touchless technology and air filtrations systems, suggests ThePinnacleList.com.

Featured NONPROFIT of the month

COMMUNITY FOUNDATION OF THE FLORIDA KEYS

Community Foundation of the Florida Keys
The Community Foundation of the Florida Keys (CFFK) is a 501 (c)(3) charitable non-profit organization. It was created in 1996 to make Key West and the Florida Keys a better place to live now and in the future.

Community Foundation’s Mission:
Connecting people, resources, and needs through philanthropy.

Community Foundation’s Vision:
To be the premier convener, connector, and catalyst for positive change in the Florida Keys by engaging partners, raising endowment funds, and leveraging resources to solve problems.

Way to get involved, select here

 
 
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336 Duval St. Key West, FL 33040

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