KEY WEST, FL – February 3, 2012 – (RealEstateRama) — Key West, Florida real estate agent Sean Farrer issued a real estate market report for the area based on recent sold statistics and trends he has observed in the market.
Farrer says that sales in 2012 are already starting off well.
“With our peak season already here, last month saw a total of 48 Key West real estate properties sold. Those were comprised of 25 single family homes, 22 condos, and a commercial property.”
He says that contingent and pending transactions for December 2011 totaled 121 transactions, with a total of 438 active listings.
“The number of listings on the market is slightly lower than it would normally be, due to a shortage of inventory in certain price levels of the Key West Real Estate market.”
Farrer says that with interest rates remaining below 4% for a fixed 30 year mortgage, the Key West area is seeing more home buyers, with a lot of FHA loans since the 3.5% down makes the down payment more affordable to first time home buyers.
“Many folks from out of town are very surprised at how affordable it is to live in Key West. We have a lot of snow birds come here for their cold season back home because our comfortably warm climate, but a good many of them decide to stay year round once they get used to the relaxed island lifestyle.”
About Sean Farrer
Sean Farrer is an expert in the local Key West real estate market, covering Key West, Old Town Key West, Key Haven, Stock Island, Boca Chica Key Homes, Big Coppitt Key Homes, Bay Point, Sugarloaf Key, Cudjoe Key, Ramrod Key, Summerland Key, Little Torch Key and Big Pine Key.
Originally from South Africa, Farrer moved to the Florida Keys over 13 years ago. He enjoys helping folks who are looking for a dream home and an island lifestyle to find both in the beautiful Key West area. With previous careers in management and IT services, he is very organized with a dedication to customer service that shows in his work with Key West real estate buyers and sellers.
A buyer’s time spent with Sean looking for Key West homes will be fun and productive, and he provides a wealth of insight on the best neighborhoods for price and lifestyle, regardless of age or income bracket. Farrer is an expert at helping out of town visitors buy a second home in Key West.
1201 #101 White St
Key West, FL 33040