Monroe County, FL Home Values & Market Trends

The median home price in Monroe County, FL is $1,082,690.51. There were 2,529 home sales in Monroe County, FL over the past 12 months. The median residential Monroe County, FL home value for transactions over the previous year is $803,391.408. The number of current listings in Monroe County, FL is 992, and the percentage of properties for sale is 992.00%. The county has 103 foreclosures, 7 bank owned properties, 2 headed for auction, and 992 properties for sale.

Monroe County, FL Real Estate Market Overview

CityMedian Est. ValueCityMedian Est. Value
Key Largo

$ 1,488,441

$ 903/sqft

Summerland Key

$ 1,250,000

$ 904/sqft

Marathon

$ 1,397,361

$ 843/sqft

Big Pine Key

$ 820,000

$ 768/sqft

Key West

$ 1,272,002

$ 946/sqft

Long Key

$ 4,461,431

$ 883/sqft

Islamorada

$ 2,104,570

$ 1,012/sqft

Key Colony Beach

$ --

$ --

Tavernier

$ 1,237,500

$ 815/sqft

Housing Market Summary for Monroe County, FL

Mar 2023February 2024Change
Median Listing Price$1.2M$1M-13.69%
Median Sold Price$978.8K$1M5.66%
Homes For Sale71798837.80%
Homes Sold1,3951,242-10.97%
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Monroe County, FL

Monroe County, FL home values range from $89,487 to $36,852,361. Islamorada is the priciest city with a median listing home price of $1,875,000, and Big Pine Key is most affordable with average house prices of around $785,000.

Foreclosure
There are 9 cities within Monroe County, FL; within these cities, the median estimated home value for homes in foreclosure ranges from $6,140,089 in Key West to the lowest value of $217,133 in Key West. Foreclosure homes account for 0.00% of properties in Monroe County, FL with Key West containing 38 foreclosures, the highest number of foreclosure properties in a single city.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0.22% of all residential properties in Monroe County, FL with Key West containing 34 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There are 9 cities within Monroe County, FL; of those cities, the estimated home value for pre-foreclosure homes ranges from $1,809,542 in Islamorada to the lowest home value of $221,995 in Tavernier.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Monroe County, FL ranges from the highest value of $793,100 in Key Largo to the lowest value of $217,133 in Key West. Bank owned homes and properties account for 0.02% of properties in Monroe County, FL. There are 9 cities within Monroe County, FL; Key West containing 3 REO properties, has the highest number of bank owned properties in a single city.
  • Auctions
    Tavernier has 1 auction properties, the highest number of properties going to auction in a single city in the state of Monroe County, FL. Auction homes and other auction properties account for 0.00% of all properties in Monroe County, FL. There are 9 cities within Monroe County, FL; of those cities, the median estimated home value for homes going to auction ranges from $2,071,487 in Tavernier to the lowest value of $2,071,487 in Tavernier.
Homes for Sale
Homes and properties that are actively listed for sale account for 2.31% of residential properties in Monroe County, FL with Key Largo containing 262 homes for sale, the highest number of listed properties in a single city. There are 9 cities within Monroe County, FL; homes for sale in those cities, have a range of median values from $4,461,431 in Long Key to the lowest value of $283,311 in Marathon.
    Sold Homes
    The median value for recently sold homes ranges from $1,362,186 in Long Key to the lowest price of $69,731 in Long Key. There are 9 cities within Monroe County, FL. Key West has 310 recently sold homes, the highest number of recently sold properties in a single city. Recently sold homes and properties account for 2.90% of properties in Monroe County, FL.

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      Guide for Monroe County, FL

      Market Reports
      Rochester Real Estate: A Year of Growth and Potential
      Fix and Flip
      Hialeah’s Real Estate Market Shows Growth; Property Values Surge from 2023-2024
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      Jacksonville, FL: Real Estate Market Trends 2023
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      Miami Real Estate Market Thrives: Property Values and Sales Grow in 2023
      See More Articles
      Rochester Real Estate: A Year of Growth and Potential
      Market Reports|posted 13 March 2024

      Amid rapid fluctuations in the Rochester real estate sector, a steady increase in the average sale price per square foot has been observed from March 2023 to February 2024. Surrounding cities like East Rochester, Webster, Penfield, Spencerport, and West Henrietta have experienced unique trends, providing a diverse regional real estate climate.

      Hialeah’s Real Estate Market Shows Growth; Property Values Surge from 2023-2024
      Fix and Flip|posted 13 March 2024

      The Hialeah real estate market has displayed a significant upward trajectory from March 2023 to February 2024. This growth, accompanied by a strong demand and investor interest, highlights Hialeah’s economic stability and the persistent appeal of its real estate market, making it favorable for both homebuyers and investors.

      Jacksonville, FL: Real Estate Market Trends 2023
      Fix and Flip|posted 8 February 2024

      This blog post provides an in-depth analysis of the real estate market trends in Jacksonville, Florida and nearby areas based on key metrics such as average property values, sold prices per square foot, and property counts. The data reveals a dynamic marketplace with fluctuating property values and varying sold prices per square foot.

      Miami Real Estate Market Thrives: Property Values and Sales Grow in 2023
      Fix and Flip|posted 8 February 2024

      Miami’s real estate market is on an upward trend, with the average property value and selling price per square foot increasing from 2023 to 2024. The surrounding cities’ markets vary, with some offering more affordable options. The data suggests a healthy investment opportunity, especially in the high-demand for-sale market.