Winter has come in like a 100 pound Tarpon on Fly, strong and unpredictable, but no worries here, we are still the warmest place in the U.S. As the winter season inches closer we can expect a warming of the Real Estate Market in 2011 in the Fl Keys and in particular Islamorada.
With new listings down almost 10% from last year we are starting to see a better balance between buyer and seller. Our absorption Rate YTD is down from 39.28 months in December 2009 to our new Rate of 27.12 months. This drop may be directly related to the drop in average list prices, and the number of Buyers recognizing the value of Real Estate in the Fl Keys. The time to set the hook and strike a deal is now. From the Condo Market to the Waterfront Market, Buyers are finding and acquiring that dream property they have been seeking.
So throw the coat back in the closet, jump a flight this winter and start the search for your Dream Home. Remember there is nothing better than a cold day in Islamorada and a Hot Real Estate Market !!