MONROE COUNTY
Real Estate
Florida Keys Real Estate Market Comparison January to December 2008 vs 2007
*Source: Tri-Services Multiple Listing Service (MLS) Board Key Largo to Key West
Green (+)
Red (-) |
Upper Keys
(Lower Matecumbe
to Key Largo) |
Middle Keys
(7 Mile Bridge
to Long Key)
|
Lower Keys
(Bay Point
to Big Pine) |
Key West
(Key West to
Shark Key) |
All Areas
Keys Wide |
Total Number of Sales as
of 12/31/08: |
13% Less
359 |
19% Less
160 |
8% Less
219 |
9% Less
428 |
11% Less
1,166 |
$ Value of Sales As of 12/31/08:
(in millions $) |
28% Less
$218MM |
24% Less
$105MM |
25% Less
$99MM |
34% Less
$256MM |
29% Less
$679MM |
Avg. Days To Sell
As of 12/31/08: |
5% More
271 |
1% More
263 |
14% Less
218 |
1% More
176 |
2% More
232 |
Avg. Sales Price
As of 12/31/08: |
18% Less
$607K |
6% Less
$661K |
19% Less
$456K |
27% Less
$612K |
21% Less
$588K |
Original List Price to
Sale Price As Of 12/31/08: |
.6% Less
76.5% |
9% Less
73.1% |
No Change
75.30% |
3% Less
89.4%
|
3% Less
78.6% |
New Properties
Listed As of 12/31/08: |
17% Less
1,590 |
12% Less
867 |
11% Less
753 |
4% More
1,363 |
9% Less
4,573 |
Avg. List Price Properties
“For Sale” As of 12/31/08: |
12% Less
$965K> |
9% Less
$896k |
8% Less
$634K |
2% Less
$962K |
8% Less
$899K |
Months of Inventory
As of 12/31/08: |
12% More
48 |
15% More
61 |
9% More
39 |
24% More
41 |
15% More
46 |
Number of Properties
“For Sale” As of 12/31/08: |
2% Less
1,448 |
6% Less
808 |
.4% More
708 |
13% More
1,460 |
2% More
4,424 |
|
Taxes
Visit Buy a Home in Florida for comprehensive property tax information.
Weather
Average High/Low in January 74/65, in July 88/78
Monroe County is the southernmost county in Florida and the United States. It is made up of the Florida Keys and portions of the Everglades National Park and Big Cypress National Preserve. These parks are mostly uninhabited mainland areas. Most known are the Florida Keys with its string of islands connected by U.S. Highway 1, which ends in Key West, 150 miles southwest of Miami.
In total area, Monroe County is comprised of 3,737 square miles, mostly of water, 73%. The Florida Keys proper are an elongated, curved bow like chain of low lying islands over 220 miles in length. They extend from the southeastern tip of the Florida peninsula to the Dry Tortugas and lie between the Gulf of Mexico and the Atlantic Ocean. Key West is the largest of the islands in the chain with a natural deep water harbor. The keys are islands of rock and sandy beaches are not common. Just miles offshore on the Atlantic side of the keys is the only living coral reef in the continental United States. No point, in the keys, is more than four miles from water.
The Keys are commonly broken down into four sections: the Upper Keys, the Middle Keys, the Lower Keys and Key West. The 3 Multiple Listing providers in the Keys also divide the Keys into these submarkets.
The Upper Keys in Monroe County include; Key Largo , Plantation Key, Windley Key, Upper Matecumbe Key, Lignumvitae Key, and Lower Matecumbe Key. (Plantation Key through Lower Matecumbe Key are incorporated as Islamadora, Village of Islands.
Key Largo is just an hour's drive south of Miami. Its home to two state parks, a national park, a national marine sanctuary and some of the most fascinating botanical scenery in the state. Explore the Dagny Johnson Key Largo Hammock Botanical State Park, John Pennekamp Coral Reef State Park, Everglades National Park and all the underwater delights of the Florida Keys National Marine Sanctuary.
Islamorada is situated between the saltwater wilderness of Everglades National Park in one direction and North America's only coral barrier reef and the deep blue waters of the Florida Straits in the other. It is comprised of six islands including Plantation Key, Windley Key, Upper Matecumbe Key, Lower Matecumbe Key and the offshore islands of Indian Key and Lignumvitae Key.
At Long Key State Park, you can kick back or meander along lush, tropical nature trails. At Windley Key Fossil Reef Geological State Park, they view an old quarry dug by the late Henry Flagler's railroad workers. Indian Key Historic State Park and Lignumvitae Key Botanical State Park offer visitors a glimpse into Florida's unique island history dating back to the early 1800's.
The Middle Keys include Craig Key, Fiesta Key, Long Key (also known as Rattlesnake Key), Conch Key, Duck Key , Grassy Key, Crawl Key, Long Point Key, Fat Deer Key, Key Vaca, Boot Key, Knight's Key, and Pigeon Key. Key Vaca, Boot Key, Fat Deer Key, Long Point Key, Crawl Key and Grassy Key are incorporated in the city of Marathon. Marathon is home to the George Adderley House. The George Adderley House, which is on the U.S. Register of Historic Places.
Marathon is located mainly on Vaca, Fat Deer, and Grassy Key, and is a 10- mile-long family-oriented island community rooted in a heritage of fishing. It reflects the old-Keys lifestyle that residents, snowbirds and visitors enjoy so much.
Undeniably, Marathon’s natural environment has activities for everyone, of any age, interest or nationality. Spectacular sailing, fishing, diving, snorkeling and SNUBA appeal to families, as do the island’s impeccably maintained Sombrero Beach, and a host of eco-attractions and marine-based environmental programs such as dolphin and turtle encounters.
The Lower Keys of the Florida Keys include Little Duck Key, Missouri Key, Ohio Key (also known as Sunshine Key), Bahia Honda Key, Spanish Harbor Keys, West Summerland Key, No Name Key, Big Pine Key, Little Torch Key, Middle Torch Key, Big Torch Key, Ramrod Key, Summerland Key, Knockemdown Key, Cudjoew Key, Sugarloaf Key, Park Key, Lower Sugarloaf Key, Saddlebunch Key, Shark Key, Geiger Key, Big Coppitt Key, East Rockland Key, Rockland Key, Boca Chica Key, Key Haven, Stock Island, Sigsbee Key, and Fleming Key.
Here, you can snorkel or dive over the Looe Key coral reef, ride a bicycle through Key Deer country, or take a fishing adventure in the back country or troll the deep blue waters beyond the reef.
The Lower Keys begin where the Florida Keys island chain takes a graceful westerly turn toward the sunset, shortly after the famous Seven Mile Bridge. It is a quiet region of small resorts, down-home restaurants, single-family homes, untrammeled wildernesses and rich history.
Bahia Honda State Park and Recreation Area are at mile marker 37. With its white sandy beaches and abundant wildlife, Bahia Honda Key frequently makes the list of most beautiful beaches in America.
Big Pine Key, at mile marker 33, is the main shopping hub of the Lower Keys. Yet, if you prefer solitude, you need only turn onto one of its lovely side roads.
Key West is a city where real estate titles date back to the Kings of Spain. Stroll the palm-lined streets and discover gingerbread mansions, tin-roofed conch houses, the John Audubon House and Ernest Hemingway's home. Walk in the footsteps of Thomas Edison, Lou Gehrig, Harry Truman, and Tennessee Williams. Gaze at the fabled treasure of the galleon Atocha. Discover tomorrow's fine art treasures by Key West's well-known and unknown artists. Key West is profiled below.
Events
- July “First Thursday” Art Walk
Caroline Street Art & Design District presents an evening of open houses from 6-
9 p.m. in historic Key West Bight community, with art, coffee shops and unique
restaurants.
The quiet upper Duval neighborhood of small unique shops and cozy bars and
lavish restaurants opens their doors for the full moon.
Live music by Latin Jazz Band Caribe and the CAMP students and faculty. Free, located at the Marathon Amphitheatre, from 4 p.m. to 10 p.m. All proceeds from food and beverages support CAMP. Food to be prepared by the CAMP culinary department.
A quirky concert broadcast underwater for divers, snorkelers and the occasional mermaid emphasizes reef preservation. The submerged songfest is held at Looe Key Reef in the Florida Keys National Marine Sanctuary.
Each year Mel Fisher's family and friends celebrate the legendary salvor’s accomplishments, unquenchable optimism and exuberant zest for life with a festival chock full of events. Visit Web site for details.
The 29th celebration of the legendary author’s work and lifestyle features literary readings, a theatrical premiere, short story competition, fishing tournament, Sloppy Joe’s Look-Alike Contest and a pre-birthday "party" commemorating Ernest's July 21st birthday.
Enjoy an evening of theatre, complimentary. Veteran actor and director Carole MacCartee showcases actors in scene study and monologue, including Speed The Plow, Top Dog/Under Dog, Orphans, Women Of Manhatten, The Vagina Monologues, and A Trip To Bountiful.
A nine day event focusing on food and wine in Key Largo. Art, wine, food, wine education, cookbook signing, wine dinners, free-pour wine events, progressive dinners, and a great time round out this festival - what better reason to come to Key Largo?
Anglers are to pursue sailfish, the most plentiful billfish in the waters off the
Keys, in a series of competitions.
This competition is the first leg of the triple-crown Florida Keys Gold Cup
Championship Series. The tournament is one of the oldest in the Florida Keys.
Anglers compete for a winner-take-all $25,000 jackpot for catching and releasing sailfish.
- Don Gurgiolo Sailfish Classic
This all-release tournament offers the ever-popular ugly sport coat award in honor
of Captain Don.
Highlights of this holiday event include live music by local entertainers, food, exhibits and booths featuring locally produced arts and crafts.
Arts & Culture
The Florida Keys are famous for harboring such historical luminaries as playwright Tennessee Williams, novelist Ernest Hemingway, and bird-chronicler John James Audubon. In truth, aspiring artists continue to be drawn to the Keys. They come not just for the spectacular sunsets and stunning wildlife but for the free-spirited way of life embodied by the Keys. That spirit is evident at the many festivals and events you will find listed on our cultural calendar. Here you can visit a tiny gallery, take in a community play, enjoy an open-air festival or attend a symphony orchestra. You'll find that the Keys are rich in cultural opportunities. Here are some venues and events to explore:
Visit The Florida Keys Council for the Arts (http://www.keysarts.com) for further information.
Parks & Recreation
In addition to a catch-and-release ethic of sport fishing, world-class diving and a rich literary and artistic community, the Florida Keys offer an appealing variety of public parks and environmentally oriented eco-attractions, whether it is swimming side by side with a dolphin, walking among thousands of butterflies, navigating through tropical forests and botanical gardens or visiting a conservation area to observe the unique protected animal species in their natural habitat.
Parks and Recreation sites are abundant in the Florida Keys, and span all five regions.
Conservation museums include Crane Point Hammock, Audubon House, Mel Fisher Maritime Museum and Butterfly Conservatory & Nature Museum.
Preservation Museums include Museum of Art & History at the Customs House, Lighthouse & Keepers Quarters Museum, Fort East Martello Museum & Gardens, Pigeon Key Foundation & Marine Science Center, The Oldest House, West Martello Town and Key West Garden Club and The Key West Heritage House Museum and Robert Frost Cottage.
The Key West Tropical Forest & Botanical Garden is the only "frost-free" botanical garden in the continental United States. It is home to many endangered and threatened flora and fauna. The Key West Forest & Garden is a special place where you can appreciate biodiversity and learn more about its importance. For instance, the forest has two of the last remaining fresh water ponds in the Keys and is a major migratory stopping point for neo-tropical birds from places as far as South America, as well as being home to many rare birds in the Florida Keys.
Other highlights include:
To protect a portion of the Florida Keys' barrier reef, John Pennekamp Coral Reef State Park was established off the Upper Keys in 1963 as America's first underwater preserve. The park hosts more than a million visitors annually, offering them numerous opportunities to observe abundant wildlife through recreational and educational experiences.
Pennekamp is incorporated into the Florida Keys National Marine Sanctuary, widely regarded as a national treasure, which was established in 1990 by the United States government. The sanctuary encompasses 2,800 square nautical miles of coastal and oceanic waters and submerged lands. Not only does this area surround the entire landmass of the Florida Keys, it also includes vast stretches of Florida Bay, the Gulf of Mexico and the Atlantic Ocean. The creation of the sanctuary allows for the management of the region's special ecological, historical, recreational and aesthetic resources. Within its boundaries lie mangrove islands, historic shipwrecks filled with rare artifacts, tropical fish and other marine life. Environmental enthusiasts can volunteer in the protection and preservation of the sanctuary.
The Marathon Wild Bird Center is one of the leading wild bird rescue centers in the Florida Keys, nestled in 64 acres of lush hardwoods as part of Crane Point Hammock. Tavernier's Florida Keys Wild Bird Centre, the northernmost of the eco-attractions, is also a haven for bird lovers, a labor of love of Laura Quinn affectionately known as the "Bird Lady," who founded and runs the centre.
Each facility's primary purpose is to rescue, rehabilitate and release ill, injured and orphaned wild birds. Boardwalks and nature paths wind through shaded cages that house wild hawks, ospreys, spoonbills, egrets and more. Some are there to recuperate and will later be released, while others would be unable to survive in the wild on their own and have become lifelong inhabitants.
Dolphin Research Center on Grassy Key is a research and educational facility that's home to a family of Atlantic bottlenose dolphins and California sea lions. The center and its staff, winners of numerous awards, specialize in behavioral research and maintain liaisons with university research programs and independent scientists around the world. Visitors to the center can participate in enjoyable and educational programs that provide knowledge and insights about dolphins, their environment and their remarkable abilities. Through a number concepts research study, researchers discovered that the marine mammals could identify simple math and distinguish the difference between numbers they were presented on a board.
Marathon's Turtle Hospital is the only facility of its kind in the world. At the hospital, opened in 1986, founder Richie Moretti and his staff treat injured sea turtles and, when possible, return them to the wild. Educational tours of the facility are offered to introduce visitors to the resident sea turtles and to the hospital's curative programs for loggerhead, green, hawksbill and Kemp's ridley turtles. The hospital's goals include working toward environmental legislation to make beaches and oceans safer and cleaner for sea turtles.
- Dry Tortugas National Park is a remote offshore preserve that lies approximately 70 miles west of Key West in the Gulf of Mexico. The park contains the Civil War-era Fort Jefferson, believed to be the largest masonry structure in the Western Hemisphere. Dry Tortugas is the largest no-take marine reserve in the continental United States. Snorkelers, divers, boaters and researchers enjoy a pristine marine environment while protecting the region's important coral reef habitat. The park is divided into a historic preservation zone where visitors can enjoy guided tours, diving, recreational fishing and other activities; a managed natural/cultural zone offering solitude and activities such as swimming, diving and recreational fishing; the protected Research Natural Area, where boaters can enjoy the environmental richness while preserving marine resources; and special protection zones for areas requiring protection from human impact.
Visit Your Florida Lifestyle for more information on fishing and our Guide to Establishing Florida Residency for Florida fishing license information.
Beaches
The Florida Keys are small islands of rock, which makes for narrower beaches. You won't find the wide sandy beaches that exist in many parts of Florida but what you lose in quantity of sand is more than compensated by the low-key natural beauty and lack of crowds of Keys beaches.
There are plenty of public beaches that are very easily accessible. The nicest in the Keys are the State Park Beaches.
For comprehensive information on all Florida beaches and gift certificates to the best Florida restaurants on or near them, check out The Florida Beach Book!
Golf
There are only a handful of golf courses in the Keys, as you can well imagine, having very little land and all that water!
The Key West Golf Club is a public course. Resort/Private Courses include Cheeca Lodge in Islamorada, Card Sound Golf Club in Key Largo and Sombrero Golf Club in Marathon.
Visit Your Florida Lifestyle for additional golf information.
Sports
According to the International Game Fish Association, more saltwater world records have been established in the Florida Keys than any other angling destination on the globe.
Hiring a charter boat or flats' guide is advisable for the best fishing. Not only does the Keys captain offer local expertise and full equipment, he or she already possesses the necessary state fishing licenses required for all Florida visitors or residents.
Types of Fishing
Bonefish, tarpon, and permit are favored inshore species, but jacks, Spanish mackerel and barracuda also abound, especially in the winter months. Burly grouper and snapper haunt the reef areas. Acrobatic dolphin fish (mahi-mahi), billfish, tuna and wahoo cruise offshore.
If the day's catch is not headed to the dinner table, taxidermists can provide exact reproduction mounts, for a three-dimensional memory!
Flats/Back Country:
The Keys are surrounded by miles of shallow sand and grass flats. Here, species like the flats are found on the Atlantic side of the Keys and in the fabled backcountry, a region of uninhabited mangrove islands on the Gulf Side of the island chain.
Species caught: tarpon, permit, bonefish, redfish, snook, sea trout, barracuda, jacks, sharks, and cobia.
Light Tackle Fishing:
Light tackle boats are some of the most flexible charters in the Florida Keys, because they allow for either a casual family trip for some tasty "dinner fish" or a fly rod expedition for a record kingfish. Almost any species are achievable with light tackle, from tarpon to deep water sailfish, and anything in between, such as tuna, cobia, dorado, snapper, ceros and wahoo.
Deep Sea/Offshore Fishing:
The Keys are bordered by the Gulf of Mexico on one side and the Straits of Florida on the other. Outside our reef, the water plunges to depths of 1,500 feet or more. Here, colorful dolphin fish teem just below the surface along mats of floating Sargassum grass or pieces of driftwood. Billfish, the biggest prize of them all, cruise out here too.
Species caught: blue marlin, white marlin, sailfish, spearfish, kingfish, dolphin, wahoo, tuna, barracuda, cobia, grouper, snapper, jacks and sharks.
Wreck Fishing:
The Keys were famous through history for swallowing up ships. Today, shipwrecks are thankfully rare but the old wrecks nevertheless make great fishing spots. Schools of permit and amberjacks swirl around the coral-covered structures. Snapper and grouper inhabit the crevices.
Species caught: permit, amberjacks, jacks, grouper, snapper, cobia, sharks, and barracuda.
Reef Fishing:
Vast coral formations protect the Keys from storms and provide homes for bottom fish such as grouper and snapper. On the Gulf side, smaller patch reefs dot the seascape. Schooling fish such as the yellowtail snapper and mackerel are never far away from these structures.
Species caught: yellowtail, kingfish, cero mackerel, cobia, sharks, and barracuda.
Harbor Fishing:
Most of the waterways in the Keys are natural, although a few have been dredged over the decades by the U.S. Navy and the shipping industry. They are great places to anchor up and prospect for a host of fish species.
Species caught: tarpon, permit, cobia and sharks.
Bridge Fishing:
Anglers can also fish without a boat. The historic bridges that border the Florida Keys Overseas Highway are noted fishing platforms, but a saltwater license is still required. Fishing from one of the bridges is the perfect place for the person who just wants to "wet a line". The bridges are a combination of fishing pier and artificial reef all rolled up into one package! Excellent fishing can be had from the Long Key Bridge, both the bridges at Toms Harbor, and the west end of the Old Seven Mile Bridge.
Diving
The 120-mile Florida Keys island chain is home to the continental United States' only living-coral barrier reef. This teeming backbone of marine life runs the length of the Keys about five miles offshore.
Our coral formations are famous for their abundance of fish, from impressive schools of blue-striped grunts to toothy green moray eels. The U.S. government established the Florida Keys National Marine Sanctuary to protect our marine habitat.
Preserving the reef is a top priority for a good reason. There is no more versatile marine destination in the world. We have coral-encrusted ship wrecks and intricate natural coral formations. We have shallow reefs for snorkelers, and a range of deeper reefs for experienced divers.
Most dive sites are equipped with convenient mooring buoys to save the reef from anchors and make it easy for boaters to tie off. Most sites are a short boat ride from our islands, where dozens of highly professional dive operators are ready to cater to you.
Once you visit the Keys, you'll see why some of the some of the most renowned dive photographers and writers in the world make this their home base
Hospitals
DePoo Hospital, Key West
Fishermen's Hospital, Marathon
Lower Keys Medical Center, Key West
Mariners Hospital, Tavernier
Visit Florida Medical Resources for comprehensive information including Florida hospital ratings.
Colleges
Florida Keys Community College, Key West http://www.fkcc.edu/
For comprehensive information on Lifelong Learning, visit Your Florida Lifestyle.
Airports
Several major air carriers schedule regular service to both Key West and Marathon airports. Many flights are routed through the Miami International Airport, although some smaller airlines schedule direct flights from many major cities in Florida and the Bahamas.
Marathon Airport
Key West Airport
Shopping
As you might expect, you won’t find traditional malls in the Keys. You will find eclectic boutiques, galleries and gift shops in most every town, but especially in Key West.
Monroe County, Florida, Cities & Towns
Incorporated
Unincorporated islands and areas
Stock Island
Big Coppitt Key
Cudjoe Key
Big Pine Key
Duck Key
Tavernier
Key Largo
North Key Largo
Flamingo
Bay Point
Sugarloaf Shores
Additional Resources
Monroe County Government www.monroecounty-fl.gov
Florida Keys Tourism http://www.fla-keys.com/
Featured Towns & Cities
Key West
Discover a city where real estate titles date back to the Kings of Spain. Stroll the palm-lined streets and discover gingerbread mansions, tin-roofed conch houses, the John Audubon House and Ernest Hemingway's home. Walk in the footsteps of Thomas Edison, Lou Gehrig, Harry Truman, and Tennessee Williams. Gaze at the fabled treasure of the galleon Atocha. Discover tomorrow's fine art treasures by Key West's well-known and unknown artists.
With its balmy weather and crystal blue skies, the island is famous among the outdoors set for its diving, fishing, water sports and golfing at the nearby Key West Golf Club, a course designed by Rees Jones.
But only in Key West would the sun shine the brightest when it sets. Everyone gathers for the never planned, always varied Sunset Celebration on the Mallory Dock. Once the sun is safely tucked away by jugglers, mimes, musicians and street artists, the city moves to a different beat. A night beat. The streets, filled with sidewalk cafes, open-air bars, legendary pubs and world-class restaurants come alive. Gourmets and gourmands alike treat their palates to island specialties. Drama, musicals and comedy flourish on the stages.
As you enjoy these sights, you'll discover that modern Key West is a warm-hearted place where all are welcome. The city's vibrant Gay and Lesbian Community helped spearhead the island's economic and social revival in the 1980's.
ONE HUMAN FAMILY is the official philosophy of the island community of Key West and Monroe County; a simple motto which serves not only as a shining example of daily life here, but as one that is openly shared with global neighbors throughout the world.
Key West is 4 miles long by 1.5 miles wide. The island is located at the southern end of
U.S. Highway 1, 153 miles southwest of Miami, Florida and 93 miles northwest of Havana, Cuba, at 24.5 degrees north of the equator. The city is the county seat of Monroe County. The city occupies the entire island as well as a portion of neighboring Stock Island to the northeast. The principal industry is tourism.
The US Navy and Coast Guard maintain presence there as well.
Key West is an option for retirees who want fun and sun and a laid back small town that’s surrounded by water. You must love the sea and all that it offers to retire here.
Key West is not complicated to describe when it comes to housing – it’s expensive. The average sales price in Key West in 2008 was $612,000. By comparison, the average price in the Lower Keys was $456,000, in the Middle Keys was $661,000 and in the Upper Keys $607,000. Prices declined on average 27% from 2007 to 2008.
If you would like to get a feel for home prices in The Keys visit www.zillow.com and search for recent homes sold.
If you would prefer to save precious time and would like personalized assistance, call or email us today to take advantage of our free Florida Relocation Services. We’ll answer all of your questions and if the timing is right for you, we’ll introduce you to one of the best real estate agents in The Keys who can provide detailed information and professional assistance.
