Florida Keys Market Report

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Real Estate in the Florida Keys

 

The important take-aways concerning the first half of 2019: While the market in 2019 has certainly outperformed the early prognostications with more sales, higher average sale prices and shorter marketing times, sellers have had to give ground to buyers to achieve those results in terms of their over-exuberant expectations. Over 80% of the entire inventory of properties for sale suffered a price reduction in the first half of 2019 and the depth of those price reductions increased more than 50% over the prior year. Sellers have had to reduce their expectations of price in unprecedented numbers to an unprecedented degree to attract a buyer in 2019. Overall, average sale prices in the Keys continued to rise largely because of the gains in the luxury market. The second half of 2019 starts with more sellers and fewer pending sales than one year ago which indicates that the improved sales trends for the balance of 2019 will moderate. 

Sales of luxury residential properties listed at $1,000,000+ increased strongly in the Upper Keys over the first six months of 2018 (80 vs 61). They were up marginally in the Lower and Middle Keys, and down in (66 vs 83). The average sale price and median sale price increased in each area of the Keys except for the Upper Keys where they were essentially flat. The Days On Market fell everywhere except the Upper Keys where it increased to 152 from 115. Most dramatically, the Lower Keys DOM went from 219 to 113. Key West, from 150 to 125, and the Middle Keys decreased from 126 to 112.

About Florida Keys : Once you reach the end of the 18-mile stretch of asphalt tethering the Florida Keys to the rest of the world, you’ll find that life moves to the tempo of a reggae song. The archipelago is perched on an ancient coral reef, nestled between the aquamarine waters off the Atlantic Ocean and the Florida Bay. One of America’s most unique motor journeys, the scenic 110-mile Overseas Highway combines ocean views, 42 bridges, natural wonders and history like no other place. Each region of the Keys has its own unique character, worlds away from big cities and theme parks.

Active Properties
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
10 Cannon Point 10 11.3 5,000 $95,000,000 $19,000 Unknown
10 Cannon Point 10 12 5,000 $95,000,000 $19,000 Unknown
94100 Overseas Highway 8 13 8,949 $24,500,000 $2,737 Unknown
111 Overseas Highway N/A N/A 4,920 $22,000,000 $4,471 Unknown
6 Sunrise Cay Drive 6 8 7,564 $19,975,000 $2,640 Unknown
2480 Coco Plum Drive 7 8 11,894 $19,500,000 $1,639 Unknown
103 Andros Road 4 6 4,870 $18,900,000 $3,880 Unknown
19 Sunrise Cay Drive 5 7 8,057 $15,500,000 $1,923 Unknown
79775 Overseas Highway 5 4 3,104 $15,000,000 $4,832 Unknown
90611 Old Highway 42 44.2 N/A $14,000,000 Unknown Unknown
6 West Snapper Point Drive 3 6 6,147 $13,650,000 $2,220 Unknown
1740 Overseas Highway 7 8 6,432 $12,750,000 $1,982 Unknown
72100 Overseas Highway 6 8 9,737 $12,500,000 $1,283 Unknown
1150 Bulevar De Palmas 8 10.3 11,674 $11,995,000 $1,027 Unknown
1300 Sunset Boulevard 6 8 7,720 $11,900,000 $1,541 Unknown
31 Angelfish Cay Drive 4 3 2,749 $11,500,000 $4,183 Unknown
2 Osprey Lane 4 6 3,800 $11,500,000 $3,026 Unknown
97251 Overseas Highway 12 16 12,800 $9,900,000 $773 Unknown
721 W Ocean Drive N/A N/A N/A $9,750,000 Unknown Unknown
62250 Overseas Highway 16 20 12,400 $9,500,000 $766 Unknown
139 Gimpy Gulch Drive 6 10 6,573 $8,900,000 $1,354 Unknown
89707 Old Highway 5 6 6,269 $8,300,000 $1,323 Unknown
6200 Overseas Highway 9 N/A N/A $8,250,000 Unknown Unknown
26 Sunset Cay Road 4 4 3,502 $8,250,000 $2,355 Unknown
6500 Overseas Highway N/A N/A N/A $8,250,000 Unknown Unknown
Average: 3.0 2.7 1,990 $1,244,145 $722 N/A day
Viewing 1 - 25 of 2503
Viewing 1 - 25 of 2503
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
1300 Duval Street N/A 0.2 N/A $7,490,000 Unknown Unknown
71 Coco Plum Drive 3 5 5,501 $6,500,000 $1,181 Unknown
71 Coco Plum Drive 3 N/A 5,501 $6,500,000 $1,181 Unknown
97340-360 Overseas Highway 20 22.2 20,084 $6,500,000 $323 Unknown
92530 Overseas Highway 10 10 N/A $4,300,000 Unknown Unknown
1910 N Roosevelt Boulevard N/A 1.3 5,250 $3,700,000 $704 Unknown
92510 Overseas Highway 5 6 3,179 $3,500,000 $1,100 Unknown
311 Elizabeth Street 9 5 3,973 $3,500,000 $880 Unknown
3036 Sanctuary Terrace 4 5 5,135 $3,250,000 $632 Unknown
6 Bay Ridge Road 4 5 2,347 $2,250,000 $958 Unknown
19 Barracuda Lane 3 4 2,281 $2,125,000 $931 Unknown
1315 Olivia Street 4 5 2,293 $1,999,999 $872 Unknown
13 Ocean Reef Drive 3 2 2,173 $1,995,000 $918 Unknown
14 125th Street Gulf N/A 0 6,128 $1,899,000 $309 Unknown
122 E Shore Drive 3 2 1,835 $1,889,000 $1,029 Unknown
507 Caribbean Drive 6 5 4,916 $1,799,000 $365 Unknown
155 Key Haven Road 4 3 2,294 $1,774,900 $773 Unknown
601 Truman Avenue N/A N/A 2,150 $1,700,000 $790 Unknown
11150 Overseas Highway 2 N/A 3,207 $1,690,000 $526 Unknown
9-10 Anchor Drive 2 3 1,236 $1,590,000 $1,286 Unknown
1212 Olivia Street 3 2 1,610 $1,465,000 $909 Unknown
9 E 2nd Street 4 4 2,153 $1,429,000 $663 Unknown
512 Catherine Street 3 2 1,800 $1,400,000 $777 Unknown
921 W Ocean Drive Unit 3A 3 4 2,697 $1,395,000 $517 Unknown
819 Whitehead Street 3 3 1,211 $1,375,000 $1,135 Unknown
Average: 2.8 2.4 1,671 $837,196 $513 N/A day
Viewing 1 - 25 of 225
Viewing 1 - 25 of 225
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
2814 N Roosevelt Boulevard N/A N/A 167,411 $53,500,000 $53,500,000 $319 Unknown 3/17/20
2814 N Roosevelt Boulevard N/A N/A 5,665 $15,750,000 $15,750,000 $2,780 Unknown 12/27/19
161 12th Street 5 5 6,007 $5,900,000 $5,350,000 $890 Unknown 3/20/20
1017 Southard Street 5 6 4,208 $4,999,000 $4,999,000 $1,187 Unknown 10/31/19
744 Windsor Lane 6 7 5,632 $5,000,000 $4,700,000 $834 Unknown 3/2/20
1100 Flagler Avenue 5 4 3,498 $4,500,000 $4,500,000 $1,286 Unknown 11/27/19
3810 Flagler Avenue 4 4 4,495 $4,270,000 $4,000,000 $889 Unknown 3/5/20
285 14th Street 5 5.2 5,611 $4,500,000 $3,950,000 $703 Unknown 12/27/19
1316 Villa Mill Alley 4 6 2,684 $3,295,000 $3,245,575 $1,209 Unknown 2/20/20
320 Admirals Lane 4 4 2,496 $3,300,000 $3,100,000 $1,241 Unknown 10/8/19
76188 Overseas Highway 4 5 2,968 $2,950,000 $2,950,000 $993 Unknown 3/20/20
402 Harbour Drive 3 5 5,845 $2,999,500 $2,925,000 $500 Unknown 2/7/20
153 Sunset Drive 4 3 2,618 $2,999,000 $2,750,000 $1,050 Unknown 2/14/20
106 Coastal Drive 5 4 3,126 $3,125,000 $2,725,000 $871 Unknown 3/24/20
96160 Overseas Highway 8 8 4,675 $3,140,000 $2,700,000 $577 Unknown 11/6/19
158 Redwing Road 6 4 5,074 $2,950,000 $2,700,000 $532 Unknown 11/15/19
104140 Overseas Highway 5 5 4,400 $2,799,000 $2,675,000 $607 Unknown 12/23/19
288 South Drive 5 6 3,692 $2,650,000 $2,625,000 $710 Unknown 12/18/19
1501 Grinnell Street 4 5 2,902 $2,750,000 $2,600,000 $895 Unknown 2/5/20
318 & 320 120th Street Gulf 6 6.1 4,416 $2,995,000 $2,585,000 $585 Unknown 12/31/19
864 Copa D Oro 7 6 6,623 $2,900,000 $2,500,000 $377 Unknown 3/20/20
99500 Overseas Highway N/A 0 N/A $2,590,000 $2,500,000 Unknown Unknown 10/15/19
34 Cannon Royal Drive 4 3.1 5,373 $2,699,000 $2,500,000 $465 Unknown 1/15/20
101956 Overseas Highway 4 4 4,039 $2,575,000 $2,495,000 $617 Unknown 3/26/20
1100 Southard Street 5 4 2,253 $2,475,000 $2,425,000 $1,076 Unknown 3/2/20
Average: 2.7 2.2 1,711 $744,831 $704,004 $1,446 N/A day
Viewing 1 - 25 of 1169
Viewing 1 - 25 of 1169