Upper Keys Luxury Home Forecast 2020

ISLAMORADA, Fla. - Dec. 9, 2019 - PRLog -- Per Jan Keller, Top Producing Real Estate Agent for Coldwell Banker Schmitt Real Estate, and owner of Kellerporterteam.com "Everything about Real Estate in Islamorada and the Upper FL Keys," The Upper Keys luxury home forecast, by most accounts from industry experts, will be of big benefit to homeowners. However, it will also be advantageous to buyers, as well, since the rate of home value increases is expected not to be as dramatic.

The Upper Florida Keys are some of the most visited destinations in the country. With the Gulf of Mexico to the west of the island chain and the Atlantic Ocean to the east, the archipelago lies in a beautiful location.

Just about an hour away from Miami and not far off the mainland peninsula, the Upper Keys are home to John Pennekamp Coral Reef State Park, Anne's Beach, and a number of other popular destinations.

Certainly, there's much to love about the Upper Florida Keys, including its real property performance.

Over the course of the past year, the median home value in the Key Largo area has reached $667,800, rising 7.1 percent over that time. Experts predict home values in the community will continue to rise but at a more moderate rate of 4.8 percent.

At this time, the median list price per square foot stands at $536. This amount is higher than the Key West Metro average of $526 per square foot.

Meanwhile, the median list price in the Key Largo area is now approximately $827,5000. Also, the median selling price is about $512,700. Presently, the median rent price in the area is $3,000 per month, lower than the metro average of $3,500.

Currently, the market conditions in the Upper Keys is near parity, though there is a slight advantage for sellers over buyers. However, with the rate of home values expected to slow a bit, and the overall health of the local residential real estate market, the parity between buyers and sellers should reappear in the coming months.

As you can clearly see, the Upper Keys luxury residential real estate market is a very stable one and one that offers a lot of opportunity for savvy buyers.

For more information about Islamorada Luxury Homes for sale in the Upper Florida Keys, please contact Jan at http://www.islamoradajan.com