Islamorada Luxury Real Estate Forecast 2022

ISLAMORADA, Fla. - Jan. 10, 2022 - 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."

Right now, the median list price is $1.1 million, with a median listing price per square foot of $846. This translates into a median selling price of $840,000. It also means the overall sale to list price ratio is presently at  97.11% or just 2.89% below the asking price. With inventory being somewhat lean, the region is currently favoring sellers to the extent it is considered by industry experts to be in a sellers' market.

Although, the median DOM is now 133 days on the market. But, this is less than half of its peak in recent months when listings spent nearly 300 days on the market in November of 2020. Still, this is significantly longer than the hot market that existed just a couple of years ago when listing only lasted between 64 days on the market and 78 days on the market in December of 2018 and January 0f 2019.

Luxury home values should stay relatively stable through the next couple to few months, although this prediction could change as the moratoriums on distressed property proceedings, which include foreclosures and short sales, are no longer in place. With such legal actions resuming, the luxury home market in Islamorada might be affected by the new presence of discounted real estate assets suddenly making their way onto the marketplace. But, if such real estate assets are introduced incrementally, the impact is more likely to be minimal or perhaps even equivalent to non-existent.

At this juncture, the luxury property residential real estate market in Islamorada is a healthy and active one and will continue to thrive due to the Mass arrival of people and businesses fleeing high tax, high regulation environments in the northeast and west coast.

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