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 12 5,000 $95,000,000 $19,000 Unknown
10 Cannon Point 10 11.3 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
103 Andros Road 4 6 4,870 $22,000,000 $4,517 Unknown
6 Sunrise Cay Drive 6 8 7,564 $19,975,000 $2,640 Unknown
21 East Snapper Point Drive 6 8 8,110 $19,900,000 $2,453 Unknown
75900 Overseas Highway 7 7.1 6,198 $18,000,000 $2,904 Unknown
79775 Overseas Highway 5 4 3,104 $15,000,000 $4,832 Unknown
90611 Old Highway 44 44.2 N/A $14,000,000 Unknown Unknown
11 Sunrise Cay Drive 5 7 6,736 $13,975,000 $2,074 Unknown
6 West Snapper Point Drive 3 6 6,147 $13,650,000 $2,220 Unknown
19 Sunrise Cay Drive 5 7 8,057 $13,500,000 $1,675 Unknown
95351 Overseas Highway 7 4 2,489 $13,500,000 $5,423 Unknown
95351 Overseas Highway 7 4 2,489 $13,500,000 $5,423 Unknown
1740 Overseas Highway Unit 4 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 6.2 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
100 Corte Del Brisas 8 13.2 13,245 $9,750,000 $736 Unknown
6200 Overseas Highway 9 9 N/A $8,999,000 Unknown Unknown
Average: 3.1 2.6 2,006 $1,254,445 $727 N/A day
Viewing 1 - 25 of 2469
Viewing 1 - 25 of 2469
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
35 Card Sound Road 4 5 5,365 $11,000,000 $2,050 Unknown
62250 Overseas Highway Unit 11 16 18 11,000 $8,750,000 $795 Unknown
1300 Duval Street N/A 0.2 N/A $7,490,000 Unknown Unknown
111 Beach Road 4 5 3,650 $6,400,000 $1,753 Unknown
34 Angelfish Cay Drive N/A N/A N/A $3,990,000 Unknown Unknown
99 Seaside Avenue N/A N/A N/A $3,800,000 Unknown Unknown
1910 N Roosevelt Boulevard N/A 1.3 5,250 $3,700,000 $704 Unknown
1316 Villa Mill Alley 4 6 2,684 $3,295,000 $1,227 Unknown
80531 Old Highway 3 4 2,044 $3,200,000 $1,565 Unknown
7 Marina Drive 3 3 1,850 $3,150,000 $1,702 Unknown
153 Sunset Drive 4 3 2,618 $2,999,000 $1,145 Unknown
3 Cinnamon Bark Lane 5 6 5,637 $2,950,000 $523 Unknown
527 Fleming Street 4 4 3,120 $2,675,000 $857 Unknown
527 Fleming Street 4 4 3,120 $2,675,000 $857 Unknown
201 Ocean Reef Drive N/A N/A N/A $2,499,000 Unknown Unknown
1100 Southard Street 5 4 2,253 $2,475,000 $1,098 Unknown
61 Pumpkin Cay Road 2 2 1,307 $2,350,000 $1,798 Unknown
13 Ocean Reef Drive 3 2 2,173 $1,995,000 $918 Unknown
147 Simonton Street Unit 302 3 3.1 2,541 $1,850,000 $728 Unknown
101 Willow Lane 4 3 2,486 $1,800,000 $724 Unknown
801 11th Street 5 5.1 3,243 $1,782,000 $549 Unknown
28 Bay Ridge Road 3 3 1,541 $1,725,000 $1,119 Unknown
601 Truman Avenue N/A 0.1 2,150 $1,700,000 $790 Unknown
912 Truman Avenue Unit 2 4 4 3,335 $1,650,000 $494 Unknown
7 Cay Harbor 2 2 1,156 $1,550,000 $1,340 Unknown
Average: 2.8 2.4 1,568 $909,540 $548 N/A day
Viewing 1 - 25 of 252
Viewing 1 - 25 of 252
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 5,665 $15,750,000 $15,750,000 $2,780 Unknown 12/27/19
1017 Southard Street 5 6 4,208 $4,999,000 $4,999,000 $1,187 Unknown 10/31/19
1100 Flagler Avenue 5 4 3,498 $4,500,000 $4,500,000 $1,286 Unknown 11/27/19
128 Madeira Road 4 4.1 3,389 $4,750,000 $4,500,000 $1,327 Unknown 7/31/19
3620-3624 Sunrise Drive 7 6.1 5,324 $4,350,000 $4,350,000 $817 Unknown 8/16/19
17279 Oleander Lane 10 11.1 10,607 $4,500,000 $4,250,000 $400 Unknown 9/19/19
285 14th Street 5 5.2 5,611 $4,500,000 $3,950,000 $703 Unknown 12/27/19
725 White Street 13 13.1 N/A $3,800,000 $3,617,500 Unknown Unknown 8/27/19
24 Sunset Key Drive N/A N/A N/A $3,800,000 $3,520,000 Unknown Unknown 8/23/19
165 Bayview Drive 6 4 4,381 $3,950,000 $3,400,000 $776 Unknown 9/6/19
1026 Von Phister Street 4 4 2,671 $3,295,000 $3,195,000 $1,196 Unknown 8/15/19
320 Admirals Lane 4 4 2,496 $3,300,000 $3,100,000 $1,241 Unknown 10/8/19
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
318 & 320 120th Street Gulf 6 6.1 4,416 $2,995,000 $2,585,000 $585 Unknown 12/31/19
1273 Mills Road 4 3.1 4,148 $2,500,000 $2,500,000 $602 Unknown 7/24/19
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
30695 Winifred Street 4 3 3,340 $2,800,000 $2,400,000 $718 Unknown 11/6/19
109 Carroll Street Unit 9 3 1 1,627 $3,899,000 $2,350,000 $1,444 Unknown 12/30/19
76180 Overseas Highway N/A N/A N/A $2,300,000 $2,300,000 Unknown Unknown 12/23/19
37 Cannon Royal Drive 3 3 4,079 $2,700,000 $2,269,635 $556 Unknown 9/10/19
100 Tingler Lane 4 5 2,771 $2,500,000 $2,250,000 $811 Unknown 12/11/19
Average: 2.7 2.1 1,546 $696,426 $656,158 $1,482 N/A day
Viewing 1 - 25 of 1126
Viewing 1 - 25 of 1126