When I learned that one of the first trips to Season 2 of “American Dream Home” was taking me to Key West, FloridaI felt like I was living my dream.
New York was a cold and miserable day. The charm of the white sand beach and the colorful buildings was a wonderful view.
It’s no wonder that the key is generally one of the hottest ones Real estate market In the country now.
According to Realtor.com, the median listed home price last month was $ 1.1 million, up 33.3% year-on-year.
For sales that differed from the listing price, the median home was closed at $ 871,500. Key West remains a market for sellers, with more people considering buying than available homes.
Still, the average time on the market for listing is 55 days.
This is not much different from many other markets across the country today, probably the Key West real estate market. It started to get cold a little.
In this episode, I followed Orlando and Shirley as new job opportunities brought them to Key West.
“They love the neighborhood and love the Keys lifestyle. They are becoming great kitesurfers!”
Realtor Jennifer Staufer was featured in an episode in Key West, saying the couple is doing great.
“Shirley and Orlando love their home! They love their neighborhood and they love the Keys lifestyle. They are becoming great kiteborders!”
Regarding the current state of Key West real estate since interest rates began to rise, Stauffer says things are starting to change.
“Inventory is still low and demand is high, but I noticed that things are starting to cool down a bit. Still The price is still high And the house is still moving. “
Key West is a tourist destination and a popular retirement destination.
She added, “But rising interest rates have definitely set back some buyers, especially new homeowners. People don’t know where to go, they don’t have to pay crazy. So I haven’t sold it yet. Amount! “
According to Redfin, homes that exceed the selling price account for 21.1% of sales, a surge of 16.5%. this, Degree of interest It has already exceeded 5% nationwide. In short, many of these first-time buyers are starting to cut prices.
The big difference that Key West is so unique is that it is a tourist destination and a popular retirement destination.
As Stauffer told me, even if things are slowing down, these two factors will keep this market strong.
It is also popular with investors. Due to limited space, monthly rents offer excellent investment options.
It is generally a small island with limited characteristics. Short-term rentals are usually near downtown, while monthly rentals are quiet and in residential areas away from major tourist destinations.
The constant demand for different buyers tells me that cooloff does not mean a slowdown.
The uniqueness of this place can make a big difference to the purchaser.
The Crowd to retire soon There is income and savings to buy a luxury home — and this group creates competition for those looking to buy a villa or a seasonal home.
Its constant demand for different buyers tells me that cooloff does not mean a slowdown.
I think Orlando and Shirley not only found the American dream home, but also made a very wise long-term investment.
Watch the video at the top of this article to learn more about the couples featured in this story. Click here to access.