$499,000 House For Sale
3 bed, 2.0 bath, 1,344 sqft
The median home value in Summerland Key is $494,500. Summerland Key home values have gone up 7.7% over the past year. The median list price per square foot in Summerland Key is $407, which is higher than the Key West Metro average of $387. The median price of homes currently listed in Summerland Key is $575,000 while the median price of homes that sold is $441,500.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Summerland Key is 17.2%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Summerland Key homeowners underwater on their mortgage is 13.4%.more
The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.