Florida Keys residential sales up 17 percent

Home sales in the Florida Keys were up 17 percent through the third quarter compared to the same period in 2010, according to a report from Coldwell Banker Schmitt. There were a total of 1,621 sales in the first nine months of this year, led by a 32 percent jump in sales in the Upper Keys. The average sales price Keys-wide was $413,000, a 3 percent increase over last year. In the Middle Keys, however, the average sales price fell by 17 percent compared to 2010. Key West saw a 12 percent increase in sales prices. The dollar value of all home sales in the first nine months of the year was $670.1 million, a 21 percent jump over last year. There are 17 months of inventory remaining in the Keys, according to the report. — Alexander Britell