Key West Real Estate

In general the market has been slow to non-existent for the past eighteen months. There are signs that the market is beginning to lurch forward... albeit in small increments, both in terms of units sold and the price point, which is in the lower quadrant. I think it's a given that it's only temporary as the most reliable indicator... corporate money is aggressively buying in the area... that will trickle down! Lets look at the different categories.

Residential - some great buys in Old Town, and when the market starts to move this will be the first residential area to feel that upswing. I hope the locals that were on the price bubble take advantage of this temporary drop, and buy before it passes them by... maybe for the last time.

Condos/Condo Hotel conversion - will take a while for the inventory to be absorbed and the new condo/hotels will not perform for the potential buyers as advertised. I would be very suspect of projected rentals and returns on one's money.

Commercial - some corporate money investing heavily and other parties looking... some good buys are out there now.

Overall the market shows great corporate and local support... construction is strong... prices have held strong, in spite of some negative national events, and people believe that Key West real estate is a better than average investment for both the near and long term. Talk to a REALTOR!