Florida Keys sales rise, prices fall

The Florida Keys saw a 5 percent increase in sales in the first quarter compared to the same period in 2011, according to the latest report from Marathon-based Coldwell Banker Schmitt. The average sales price in the Keys fell in the same period, however, with a 2 percent drop to $412,000. While the Middle Keys saw an 8 percent average price increase, the Lower Keys dropped by 14 percent. The Middle Keys also led the way in sales growth, with a 24 percent increase in the first three months of 2012. There are approximately 15 months of inventory remaining in the Keys, a 14 percent drop from 2011. — Alexander Britell