Upper Keys Real Estate Forecast 2019-2020

ISLAMORADA, Fla. - Nov. 14, 2019 - PRLog -- The Upper Keys real estate market is unlike those in other destination locations. This is due to a number of factors, including climate, weather, infrastructure, economics, and other elements.

The Upper Florida Keys residential real estate market is one that's highly desired by buyers from all around the state, the southeastern region, and the country, overall.

Located between the aqua-blue-green waters of the Gulf of Mexico and the deep blue of the Atlantic Ocean, the Upper Keys are nearest the mainland peninsula, with Miami just a short drive away.

The Upper Keys include Key Largo, Tavernier, Plantation Key, Windley Key, Islamorada, Upper, and Lower Matecumbe Key, and Lignumvitae Key. For the purposes of looking at the Upper Keys real estate forecast for 2019 through 2020, we'll use Key Largo as the bellwether.

Currently, the median home value in the Key Largo community stands at $658,800. Home values in the area have risen by about 6 percent over the last year, with experts predicting an increase of around 3.7 percent.

The median list price in and around Key Largo per square foot is $556, which is a bit higher than that of the Key West metro area of $525. At this time, the median price of residential properties in the area stands at $869,000. Meanwhile, the median sales prices come in at $558,200.

As previously mentioned, the ratio between buyers and sellers is near parity, with the Upper Keys real estate market slightly favoring sellers.

Right now, the mortgage delinquency rate in the Upper Keys is very small. Meaning, it's under the national average of 1.1 percent. Also, the number of homeowners underwater on their mortgages is just a tad over 6 percent.

All of this means the Upper Florida Keys residential real estate market is in very good shape and should continue along with this pace for the next twelve months or more. With such numbers, it definitely makes the market more competitive, which is great news for buyers wanting to relocate to the Upper Keys.

Kim Bagnell Thaler is a pioneer among Florida Keys realtors. Regarded as one of the most influential realtors in the middle and upper keys, she provides expert and professional real estate service.

With her vast knowledge, 20 years of experience and commitment to the highest

ethical standards, Kim remains a standout among other Florida Keys Real Estate  Agents. For help finding Florida Keys Real Estate, please see http://www.kimbagnell.com