______________________________________________________________________
FOR MORE INFORMATION CONTACT: Drenda Collins (305) 289-6484
Analysis of Florida Keys Real Estate Sales
Between 1999 and 2008 Published by Coldwell Banker Schmitt
Florida Keys, May 21, 2008 – Coldwell Banker Schmitt Real Estate Co. (CBSREC) has released a report tracking changes and documenting key trends in real estate sales for various property types in the Florida Keys over the 1999-to-present time frame, and comparing the results with what would have happened had The Keys’ real estate market performance throughout the 1990s continued through the first quarter of this year.
Given the historical 5% yearly increase in average sales price The Keys attained throughout the 1990s, and comparing it with what has actually transpired since 1999, the report concludes that, despite the slowing of sales in the most recent years, buyers who purchased before peak prices were reached are, nevertheless, still ahead anywhere from 17% to 320% depending on the type of property and its location.
“These findings will be eye-opening to many evaluating their investments in Florida Keys real estate,” noted Brian Schmitt, president and broker, “and they underline the continuing importance of taking a long-term view.”
“Sales History of the Lower Keys – Upper Keys & Key West” analyzes both number of sales and sale price figures for waterfront and non-waterfront properties in both Key West and the combined Lower and Upper Keys geography between 1999 and the first quarter of 2008. The accompanying charts break results out by single family residences, condominiums and townhomes, commercial properties, and undeveloped lots, highlighting the peak sales year for each criterion.
The report is incorporated in the Spring 2008 edition of Tropical Breezes, CBSREC’s quarterly newsletter. Printed copies of Tropical Breezes may be requested by contacting any CBSREC office or by emailing TropicalBreezes@cbschmitt.com. A PDF version is available for download from CBSREC’s web site, www.RealEstateFloridaKeys.com, where site visitors can also subscribe to the email version of Tropical Breezes.
Coldwell Banker Schmitt has been a leading real estate company in the Keys for over 53 years. The core strengths of the company include its focus on customer service, premier agent business development and support systems, leading edge technology and marketing, and its Keys-wide presence.
For additional information, visit Coldwell Banker Schmitt’s website at www.RealEstateFloridaKeys.com or email info@cbschmitt.com, or call any of its five locations in the Florida Keys: 100430 Overseas Highway, Key Largo (305) 451-4422; 85996 Overseas Highway, Islamorada (305) 664-4470; 11050 Overseas Highway, Marathon (305) 743-5181; 29967 Overseas Highway, Big Pine Key (305) 872-3050; and 1201 White Street, Key West (305) 296-7727.
# # #
