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Summerland Key Real Estate Market Update

Average price per square foot for Summerland Key FL was $326, an increase of 7.6% compared to the same period last year. The median sales price for homes in Summerland Key FL for Aug 09 to Oct 09 was $315,000 based on 7 home sales. Compared to the same period one year ago, the median home sales price decreased 28.4%, or $125,000, and the number of home sales decreased 22.2%.

There are currently 95 resale and new homes in Summerland Key on Trulia, including 6 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Summerland Key FL was $994,879 for the week ending Nov 25, which represents a decrease of 0.3%, or $3,354, compared to the prior week.

The median sales price for homes in Summerland Key FL for Aug 09 to Oct 09 was $315,000. This represents a decline of 32.3%, or $150,000, compared to the prior quarter and a decrease of 28.4% compared to the prior year. Sales prices have depreciated 36% over the last 5 years in Summerland Key.

The average listing price for Summerland Key homes for sale on Trulia was $994,879 for the week ending Nov 25, which represents a decline of 0.3%, or $3,354, compared to the prior week and an increase of 2%, or $19,724, compared to the week ending Nov 04. Average price per square foot for Summerland Key FL was $326, an increase of 7.6% compared to the same period last year.

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Summerland Key real estate—use www.LowerKeys-Homes.com to find real estate in Summerland Key as well real estate in other cities in Florida. www.LowerKeys-Homes.com provides comprehensive real estate guides with up-to-date information about housing prices, latest Summerland Key real estate trends, market activity, and neighborhood information. Before buying a house in Summerland Key, research real estate on www.LowerKeys-Homes.com. Understanding the Summerland Key real estate market is your first step to buying a home in Summerland Key, Florida. Our real estate guide gives your a valuable overview of the Summerland Key real estate market—find Summerland Key properties, sales statistics, real estate price trends, real estate market activity, comparisons of Summerland Key schools or Florida schools, and general demographic information for Summerland Key, FL. www.LowerKeys-Homes.com's real estate guide combines a Summerland Key map with a detailed list of Summerland Key neighborhoods, ZIP codes, and nearby cities to help kick-start your search for a home in Summerland Key.

Summerland Key is an unincorporated community in Monroe County, Florida, United States. It is located in the lower Florida Keys on the island of Summerland Key.

Summerland Key is a bedroom community located almost mid-way between the "large" cities of Marathon and Key West.

It is home to the Brinton Environmental Center of the Florida National High Adventure Sea Base. Also located on Summerland Key is a field station for Mote Marine Laboratory.

A private, 2550-foot community airstrip (FD51) is located just south of the Overseas Highway on West Shore Drive at mile marker 25 - Lat: N 2439.5 Long: W 08126.5 Elev: 4 .

About Key West and the Florida Keys

The Florida Keys include about 1700 islands in the southeast United States. They begin at the southeastern tip of the Florida peninsula, about 15 miles (24 km) south of Miami, and extend in a gentle arc south-southwest and then westward to Key West, the westernmost of the inhabited islands, and on to the uninhabited Dry Tortugas. The islands lie along the Florida Straits, dividing the Atlantic Ocean to the east from the Gulf of Mexico to the west, and defining one edge of Florida Bay. At the nearest point, the southern tip of Key West is just 94 miles (151 km) from Cuba. The Florida Keys are between about 23.5 and 25.5 degrees North latitude, in the subtropics. The climate of the Keys however, is defined as tropical according to Köppen climate classification. More than 95 percent of the land area lies in Monroe County, but a small portion extends northeast into Miami-Dade County, primarily in the city of Islandia, Florida. The total land area is 137.3 square miles (356 km2). As of the 2000 census the population was 79,535, with an average density of 579.27 per square mile (223.66 /km2), although much of the population is concentrated in a few areas of much higher density, such as the city of Key West, which has 32% of the entire population of the Keys.
The city of Key West is the county seat of Monroe County, which consists of a section on the mainland which is almost entirely in Everglades National Park, and the Keys islands from Key Largo to the Dry Tortugas.

Seven Mile Bridge
One of the longest bridges when it was built, the Seven Mile Bridge connects Knight's Key (part of the city of Marathon in the Middle Keys) to Little Duck Key in the Lower Keys. Almost true to its name, the piling-supported concrete bridge is 35,862 ft (10,931 m) or 6.79 miles (10.93 km) long. The current bridge bypasses Pigeon Key, a small island that housed workers building Henry Flagler's Florida East Coast Railway in the 1900s, that the original Seven Mile Bridge crossed. A 2.2-mile (3.5 km) section of the old bridge remains for access to the island, although, it was closed to vehicular traffic on March 4, 2008. The aging structure has been deemed unsafe by the Florida Department of Transportation. Costly repairs, estimated to be as much as $34 million, were expected to begin in July 2008. Monroe County was unable to secure a $17 million loan through the state infrastructure bank, delaying work for at least a year. On June 14, 2008, the old bridge section leading to Pigeon Key was closed to fishing as well. While still open to pedestrians — walking, biking and jogging — if the bridge were closed altogether, only a ferry subsidized by FDOT and managed by the county would transport visitors to the island.

After the destruction of the Keys railway by the Labor Day Hurricane of 1935, the railroad bridges, including the Seven Mile Bridge, were converted to automobile roadways. U.S. 1 runs the length of the Keys and up the East Coast to Maine; the Keys section is also called the Overseas Highway.

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