Table of Content
Percentages are based on the number of housing units for each type over the total number of units across all types. The percentage of housing units in the city that are occupied by the property owner versus occupied by a tenant . Median home value is the value which has equal numbers of homes valued above and below it. The median home value is more stable than the average home value, which can be greatly affected by a few very high or very low home values.
Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. The average homes sell for about 3% below list price and go pending in around 54 days. The average homes sell for about 3% below list price and go pending in around 55 days.
Neighborhoods in Key West
Homes for sale in Key West have a median listing price of $1.39M. Some of these homes are Hot Homes, meaning they're likely to sell quickly. ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Keep in mind that it’s an island and there are extra costs inherent with island-living.
The average homes sell for about 5% below list price and go pending in around 69 days. The average sale price of a home in Key West was $865K last month, up 13.8% since last year. The average sale price per square foot in Key West is $758, up 29.5% since last year. Zillow Home Value Index , built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types. Homes on the island bear distinctive hallmarks uniquely suited to the climate. Light pastel, seaside, and neutral colors adorn the exteriors, warding off the summer heat.
Average home prices near Key West
Buying a home, especially one with an attached rental unit, is a sound investment as there is high demand for long-term rentals. Key West offers residents a delightful mix of urban/suburban living with plenty of social interaction but quiet residential neighborhoods. Throughout the Civil War the island remained in Union hands because of the naval base, even though Florida had seceded and joined the Confederacy. Fort Zachary Taylor was constructed during the war, and today it is a National Historical Landmark that contains the largest collection of Civil War cannons discovered at a single location. As with all of Florida, Key West has changed hands many times throughout recorded history.
Realm’s data analysis shows that 77% of homes are within a designated flood zone. Potential homeowners should take note — if your home does sit in a flood zone, it’s critical that you get the proper insurance to protect your home. Key West is small in size , but it packs a lot into a tiny space. Known for its fresh seafood — conch fritters are a local specialty — beautiful beaches, and raucous nightlife, it’s every beach bum’s dream.
Nearby City Housing Markets
Most houses for sale in this city are located in areas that are also suitable for those who travel by foot; many daily errands can be run without the use of a vehicle. Very Charming 2/2 remodeled condo in Santa Clara Condominiums on the 5th floor and will be sold turn key. Plenty of storage room and a super cute balcony to watch the most amazing sunsets with ocean peek. Centrally located within walking distance to shopping, dining, THE ICONIC 0 MILE MARKER, theaters. You can be in the heart of all that KEY WEST is known for in just a short walk. This is true paradise and a great investment property or full time residence.
Our data are calculated and updated every three months for each neighborhood, city and town, approximately two months after the end of the previous quarter. Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage transactions to the FHFA. These data are combined with the data of the previous 29 years to establish price differentials on properties where more than one mortgage transaction has occurred. These resultant neighborhood appreciation rates are a broad measure of the movement of single-family house prices. The appreciation rates serve as an accurate indicator of house price trends at the neighborhood level. Neighborhood appreciation rates from NeighborhoodScout are based on both median house value data reported by respondents via the U.S.
Roughly 45% of homes in this city were constructed pre-1960, while many of the remaining buildings were constructed in the 1960s and the 1980s. Explore how many homes are likely to flood in nearby cities, compared to . The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types. Data analysis done by Realm shows that most Key West homes were built in 1958.
Groceries, gasoline, household goods – everything costs a little more than you would pay on the mainland. On top of that, Key West has a small footprint with no room to expand, so competition for housing can be intense. And when competition is high, you can also expect to see higher home prices. A nearby alternative is Stock Island, which is becoming a sort-of suburb of Key West.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Key West differ in their investment potential, sometimes by a great deal. Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.
Each property gets a score from 0-1,000, showing how much of its potential has been realized. Key West is a moderately walkable city in Florida with a Walk Score of 63. Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire. Across the nation, 3% of homebuyers searched to move into Key West from outside metros.
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