The 2018 Key West Real Estate Market

KEY WEST, Fla. - March 21, 2018 - Rezul -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker
Schmitt in Key West and owner of www.lowerkeys-homes.com,"First, we'll begin our journey with the fact that Key West remains one of the most desirable places to live. And, not just in the state of Florida.

People from outside the Sunshine State want their own piece of paradise and they often look to the Lower Keys, particularly, to Key West. It's a place that offers super-mild winters, fabulous spring and fall seasons, along with balmy, breezy summers. It's definitely the climate which is most attractive but that's not the only lure. Key West enjoys a laid-back, nearly stress-free lifestyle. It's a permanent escape from the hustle and bustle of the big city.

What's more, Key West is where visitors and residents alike find something truly wonderful. The scenery, the lifestyle, and plenty more.

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• Land remains scarce. There is no question Irma had a strong impact on Key West. (As it did on the rest of the Florida Keys and well across the entire peninsula.) But, life goes on and residents make it happen. The area is rebounding. Even though a lot of damage occurred across the island, it didn't' magically produce more land. Which means property values remain quite strong.
• Property values will rise. Since land is a scarcity, home values will only rise. As the distance between the present and Irma grows longer and longer, that trend will only continue. However, there is a brief respite so-to-speak, which means buyers should act and act fast.
• Interest rates will continue to go up. The crash of a decade ago did have its silver linings. It corrected a hugely incorrect housing bubble. It also gave consumers much-needed pause to reflect. And, it caused interest rates to decrease dramatically. Now, interest rates remain very low but are going up slightly. This will only continue to happen as the months' tick off the calendar. Which should tell buyers now is the time to jump into the Key West real estate market.

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As 2018 unfolds, the Key West real estate market should become one of the most active in the country.

Fred Mullins, P.A. holds an MBA, B.S., real estate license, United States Coast Guard Master Captain's license and commercial pilot's license. With over 20years of cross-functional experience in real estate, international asset management, and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys.For help with buying or selling Real Estate in the Lower Florida Keys, see http://www.lowerkeys-homes.com