Is Upper Keys, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Upper Keys was a Seller's Market.
Key Takeaway
Upper Keys is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper Keys, FL
How much do homes in Upper Keys, FL cost?
Median Sold Price
$1,002,500
$691/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper Keys have sold for 19.3% more than they did a year ago.
Summary: The median home sold price in Upper Keys was $1,002,500 in May 2024, up 19.3% from last year, and the median price per square foot was $691.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $339K | $439K | +29.5% |
| 2 Bedrooms | $660.6K | $629K | -4.8% |
| 3 Bedrooms | $865K | $1.1M | +33.8% |
| 4 Bedrooms | $1.9M | $2.4M | +28.9% |
| 5+ Bedrooms | $3.6M | $2.4M | -31.9% |
Summary: Upper Keys housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.5%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 33.8%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes decreased by 31.9%.
Median Sold Price Compared To Nearby Cities
| Key Largo | $775K | $927.5K | +19.7% |
| Upper Keys | $840K | $1.0M | +19.3% |
| Tavernier | $1.0M | $1.1M | +7.1% |
| Islamorada, Village of Islands | $1.9M | $1.9M | 0.5% |
Housing Supply in Upper Keys, FL
How many homes are available in Upper Keys, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 165 | 198 | +20.0% |
Summary: The Upper Keys real estate market had 198 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 26 | 44 | +69.2% |
| 3 Bedrooms | 76 | 80 | +5.3% |
| 4 Bedrooms | 34 | 38 | +11.8% |
| 5+ Bedrooms | 23 | 31 | +34.8% |
Summary: The Upper Keys housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 69.2%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 34.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Keys, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Upper Keys in May 2024, down by 43.8% month-over-month. Of the 9 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Upper Keys, FL
How long does it take to sell a home in Upper Keys, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 97 Days | 91 Days | -6.6% |
Summary: Homes in Upper Keys had an average of 91 days on market in May 2024, down by 6.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Keys are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Upper Keys; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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