Florida Keys Real Estate Home Prices

We’re in Spring 2024, and you’re curious if home prices in the Florida Keys are dropping. Well, I’m here to tell you that they are not. Each month, we analyze the numbers across the entire Florida Keys. You can check out our Florida Keys Home Pricing Report on our marketing page. Be sure to sign up if you want the stats sent directly to you via email. On the marketing page, we delve into details about the numbers, but here’s a general overview.

Florida Keys Home Prices Holding Firm

Over the past year, overall home prices in the Florida Keys have remained stable, if not slightly higher than previous years. They are stable, but they’re still quite high! Frankly, in my 15 years of experience in real estate here in the Florida Keys, I’ve only seen prices go up!

Now, I’ll share that we’re experiencing more inventory. During the crazy real estate run, we were down to just 1,300 listed properties for sale. But now, for the first time in years, we’ve broken over 2,000 homes for sale.

We’ve been diligently tracking the number of listings week by week for some time. In March, we observed our highest number of listings, reaching 2,177 homes for sale. Our high season typically spans from January to April, peaking in March, so that seems to be right on track. I suppose only time will tell if that will be our high inventory level for the year.

I’ve started to notice a decrease in prices in the condo market. I believe the condo market has been hit pretty hard with all the new regulations and requirements. If you’re in the market for a condo and you’re not familiar with all the new laws and regulations, you should definitely check out our blog for more information.

Insurance in the Florida Keys has seen a significant increase in recent years. FEMA’s Risk Rating 2.0 initiative, while a bit chaotic, has notably impacted flood insurance costs. Additionally, Citizens, our main wind insurance carrier, has mandated that if you have wind insurance, you must also have flood insurance, further driving up prices. These insurance factors are starting to influence pricing more here in the Florida Keys. Whether they will pull prices down remains to be seen. Time will tell.

No Dip in Sight: Florida Keys Real Estate Home Prices

So to answer your question, are home prices dropping in the Florida Keys? The short answer is no, not yet. While other places around Florida may be experiencing drops, here in the Keys, it hasn’t started. Be sure to check back often and read our posts, or simply sign up for our email updates. Trust me, we’re closely watching the market, and you’ll know as soon as we do when the prices start coming down!

Ready to make the Move?

We are local real estate agents, deeply familiar with the Marathon and Florida Keys areas, and ready to serve you. Whether you’re considering making the Florida Keys your permanent home, investing in vacation property, or looking to sell, we’re here to assist you every step of the way. Feel free to call us or reach out for any inquiries or assistance you may need. We’re committed to helping you find your perfect piece of paradise in the beautiful Florida Keys.

If you’re ready to buy, head to the Buyer Page where we answer lots of your common questions. 

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

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Wondering about the cost of beachfront condos in Marathon, FL?

Embarking on the journey to find your piece of paradise in Marathon, FL is like a thrilling adventure, just like watching a stunning sunset over the Florida Keys. But the big question remains: how much does it cost to own a piece of this beautiful place?

Stick with us as we uncover the price range for beachfront condos in Marathon.

Revealing the Price Range

Just like with all real estate around the world, the cost of beachfront condos in Marathon, FL varies depending on factors like where they are, what kind of view they offer, how big they are, and what amenities they have. But don’t worry, Marathon has options for everyone, from affordable choices that won’t strain your wallet to high-end retreats. You’ll find a condo that suits your style and budget.

Let’s talk money – The Costs That Comes With Every Beachfront Condo in Marathon

Property Taxes

First up, property taxes – and the good news is, Monroe County keeps things wallet-friendly. They’ve got some of the lowest property taxes in all of Florida, sitting pretty just under 1 percent of the purchase price. To keep it simple, we usually tell our buyers to expect around 1 percent in property taxes. So, if your home’s price tag is $500,000, you’re looking at roughly $5,000 in estimated taxes each year.

HOA Fees

Now, HOA fees – yep, every condo’s got ’em. These fees can vary, with some covering more stuff and perks than others. It’s super important to ask what’s included. One thing we strongly recommend checking is whether the HOA fee takes care of building insurance. Most condos do, but there are a couple of associations that don’t. Plus, these fees can differ within each community, and we’ll dive into that in just a bit.

So, where can you find these beachfront condos in Marathon?

When it comes to beachfront condos in Marathon, the options may be somewhat limited. Nevertheless, if your heart is set on waking up to the ocean every day and having the beach just steps away for wiggling your toes in the sand, then you’ll want to take a look at these condos.

The Shores

Tranquility Bay

Coco Plum Villas

Royal Plum

Having the beach at your fingertips is fantastic, but often these beachside condos lack dockages. It’s a bit of a trade-off – you can have the beach or you can have a dock.

However, there is one unique condo complex in Marathon that offers both. Keep reading to discover which one it is.

Royal Plum Beachfront Condo Complex

Ahoy, beach lovers! The Royal Plum condo complex, nestled in beautiful Coco Plum, offers 35 units, and each one grants you a golden ticket – beach access! But here’s the scoop: not all of these units boast an ocean view. Some treat you to the joys of a garden view, which, while not exactly oceanfront, still brings a smile to your face.

Now, when it comes to choices, you’ve got one-bedroom and two-bedroom units, and here’s the cool part: you can rent them out weekly. Plus, worry not about the day-to-day management – onsite managers are there to lend a hand. And of course, there’s that fantastic white sandy beach awaiting your footsteps, alongside a heated pool and tennis courts for some sporty fun. But, if you’re hoping to bring your furry friend along, we’ve got to break it to you – pets aren’t on the guest list.

Now, for the part about Homeowners Association (HOA) fees. They’ve got your back when it comes to common areas, building insurance, and cable. The monthly fee dances around the $770.00 mark. As for recent sales, well, they’ve ranged from $400,000 to $550,000, depending on unit size and location within the complex. Beach days, here you come!

Coco Plum Villas – Beachfront Condo

Picture this – Coco Plum Villas, a unique condo complex that’s not just your everyday beachfront spot; it’s got a primo location right on the open water. And oh boy, those fantastic screened-in porches offer some stunning ocean views, you won’t believe your eyes. There are 16 units in this gem, and each one comes with two bedrooms, two bathrooms, and approximately 1,200 square feet of space. It’s like your very own slice of paradise.

Now, what’s even cooler? It’s a pet-friendly community that’s totally fine with weekly rentals. So whether you’re looking to settle down or make a savvy investment, Coco Plum Villas has you covered. Plus, there’s more to explore with tennis and pickleball courts for a bit of recreation – because who wouldn’t want to have some fun?

Now, about the Homeowners Association (HOA) fees, they’re around $1,025 per month, and they take care of the important stuff – building insurance, common area maintenance, sewer, and water. So you can enjoy the good stuff without the hassle. As for the price tags, these units range from $725,000 to $850,000, offering options for anyone seeking a waterfront paradise right here in the Florida Keys.

Tranquility Bay – Beachfront Condo

Now, let’s sail over to Tranquility Bay – where the sun kisses the Gulf of Mexico. There, you’ll find 87 townhome units, each one with the cool option of having two or three bedrooms. But here’s the view-tastic part: 24 of these units come with waterfront views that’ll absolutely steal your breath away.

The fun doesn’t stop there. Tranquility Bay is like a never-ending vacation with three pools, a putting green, fitness center, beach tiki bar, and even an upscale restaurant to satisfy those taste buds. It’s basically a resort, but you get to call it home.

And guess what? If you’re thinking of making it an investment, you’re in luck. You can do nightly rentals, making it a sweet prospect for savvy investors. Plus, owners get up to five weeks a year to enjoy their personal beachside retreat.

Now, there are a couple of things you should know. Tranquility Bay doesn’t have docks or trailer storage, and, unfortunately, it’s a no-pets-allowed zone. But hey, you’ve got a bunch of other perks to make up for it.

As for the Homeowners Association (HOA) fee, it’s $2,313.99 per month, which might seem like a lot, but it covers a bunch of stuff: building insurance, cable, common area maintenance, extermination, and security. So you’re living the good life with some added peace of mind.

When it comes to price tags, well, they’re like the sunset – they vary. You can snag a unit for anywhere from $500,000 to $1,200,000. It all depends on how big you dream and where you want to catch those amazing views.

The Shores- Beachfront Condo

The Shores, located in Coco Plum, is a delightful 16-unit townhome condo complex. Residents can relish resort-like amenities such as a pristine white sandy beach, a heated pool, and tennis courts.

What truly distinguishes The Shores is its exceptional offering of beach access and 9 deeded boat slips, creating a paradise for those seeking both the beach and a dock.

You have the choice of 2 and 3-bedroom townhomes, complete with covered parking for two cars. The 21-day minimum rental policy provides flexibility for various stay options.

The pet-friendly atmosphere at The Shores welcomes up to two pets, each weighing up to 35 pounds, ensuring that your furry friends can savor the coastal lifestyle with you.

For a monthly association fee of $1,376, residents enjoy exterior maintenance, insurance, common area upkeep, and pest control.

Unit prices at The Shores can range from $600,000 to $1,300,000, depending on factors like location, view, and the inclusion of a deeded dock.

So, there you have it, the scoop on these four beachfront condos in Marathon.

The information provided is dependable but lacks guarantees. Beachfront condos in Marathon frequently revise their rules and fees making it essential to consistently verify details with the Homeowner Associations.

Curious about waterfront homes and how much they cost? 

Get Access to Customized Searches for beachfront condos for sale in Marathon, FL.

Let us help you find the perfect beachfront condo that suits your dream lifestyle.

Did you find your dream beachfront condo in Marathon, FL?  – Then be sure to head on over to our Buying Page, where we answer some of the most common questions buyers have! 

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance Compaines