KEY WEST & THE LOWER FLORIDA KEYS WEEKLY REAL ESTATE NEWS & LISTINGS

August 13 - 20, 2008

Sponsored By: Vic Musmanno, P.A.

Broker Associate, Accredited Buyer Representative* &

Certified Residential Specialist**

Coldwell Banker Schmitt Real Estate

23 KEY WEST HOMES WITH PRICE REDUCTIONS THIS WEEK TOTALING $1.84m  Click Here to View

KEY WEST PROPERTIES UNDER CONTRACT IN THE PAST WEEK Click Here to View

NEW LISTINGS & PRICE REDUCTIONS

KEY WEST

Click Here: New Listings (Key West)

Click Here: Price Reductions (Key West)

LOWER KEYS (Key Haven to Big Pine)

Click Here: New Listings (Lower Keys)

Click Here: Price Reductions (Lower Keys)

CURRENTLY, 1903 RESIDENTIAL PROPERTIES FOR SALE IN THE LOWER

AND MIDDLE FLORIDA KEYS (KEY WEST to DUCK KEY):

***(Compared to 1984 on Aug. 6, 1919 on July 2, 1952 on June 4, 2032 on May 6, 2496 on Apr. 2, 2507 on Mar. 5, 2506 on Feb. 6, 2242 on Jan 2, 2008.

AVAILABLE RESIDENTIAL PROPERTIES BY AREA

Key West:  760 Properties, from $139,000

Stock Island:  50 Properties, from $199,000

Key Haven:  26 Properties, from $498,000

Rockland Key:  4 Properties, $535,000

Big Coppitt:  96 Properties, from $98,000

Geiger Key:  8 Properties, from $279,000

Shark Key:  8 Properties, from $1,500,000

Saddlebunch Key:  30 Properties, from $199,900

Sugarloaf Key:  66 Properties, from $299,000

Cudjoe Key:  147 Properties, from $188,500

Summerland Key:  98 Properties, from $260,000

Ramrod Key:  43 Properties, from $275,000

Big, Middle & Little Torch Keys:  53 Properties, from $239,000

Big Pine & No Name Key:  180 Properties, from $167,000

Marathon Key & Surrounding Areas: 622 Properties, from $90,000

Upper Florida Keys:  1143 Properties, from $129,000

KEY WEST MARKET SNAPSHOT

47% Single Family Homes:  349

44% Condominiums & Townhomes:  346

9% Multi-Unit Properties:  62

0 - $500k:  223 Properties

$500 - $1m:  279 Properties

$1m - $1.5m:  120 Properties

$1.5m - $2m:  50 Properties

$2m+:  88 Properties

LOWER KEYS HOMES MARKET SNAPSHOT (MM 6 - 40)

80% Single Family Homes: 574

2% Condominiums & Townhomes: 13

2% Multi-Unit Properties:  20

16% Mobile Homes:  115

0 - $500k:  309 Properties

$500 - $1m:  279 Properties

$1m - $1.5m:  60 Properties

$1.5m - $2m:  30 Properties

$2m+:  45 Properties

JULY 2008 SALES STATISTICS
In July, 2008, 12 residential properties sold in the Lower Florida Keys (mm 6 to 40) totaling over $7.56m, with an average of 11.16%  off of the list price and an average sales price of $630,208.  During the same period, 20 transactions in Key West represented $17.21m in sales, with an average of 9.92% off of the list price and an average sales price of $860,375. 

Feel free to contact me at any time, to discuss buying your new home in the Fabulous Florida Keys!

Best Regards,

Vic

Vic Musmanno, Broker Associate

Accredited Buyer Representative & Certified Residential Specialist

Coldwell Banker Schmitt Real Estate

1201 White Street, Key West, FL 33040

Toll Free: 1-800-598-7727, ext 7457

Local:  305-294-0123

E-mail:  vicmus@aol.com

* All data used for real estate sales statistics and other related activity was derived from the Florida Keys MLS.

*Only 2% of all real estate agents in the United States are certified by the Real Estate Buyer's Agent Council and National Association of Realtors as Accredited Buyer Representatives (ABR).  With over 1000 licensed real estate agents in the entire Florida Keys, only 5 agents have earned this designation - and Vic Musmanno is one!  From the initial selection of properties, all the way through contract negotiations and settlement, you can now have an agent specifically committed to representing your best interests when buying a home.  Consumer advocacy groups have endorsed such representation, and licensing laws have been reworked to enable and encourage representation for THE BUYER.

**The National Association of Realtors Council of Residential Specialists awards the prestigious Certified Residential Specialist designation to recipients who demonstrate significant experience and volume of real estate transactions and successfully complete advanced courses in real estate practices.  Only 4% of all Realtors have earned this prestigious credential, and council members were involved in nearly 25% of all residential real estate transactions in the U.S.