Key West Real Estate: The Highlights

Key West Real Estate

You can't escape the influence of "Papa Hemingway" or Jimmy Buffett in Key West. The city flaunts its reputation as a free-wheeling party town and thrives on a characteristically unconventional approach to almost everything. There is much more to this lively little city "at the end of the road" than free-flowing liquor, fresh seafood, key lime pie, and abundant sun, but it’s hard to dispute the feeling of fun and freedom that is pervasive, from sunset celebrations and street performers at Mallory Square to the annual Key West Fantasy Fest, regular fishing tourneys and quirky holidays that include the Conch Republic Independence Celebration. Six-toed cats still stroll the grounds of the Hemingway House, and cats and chickens frequent streetside bars and cafes.  Peeling back the layers of Key West takes time, and there are a lot of reasons to love the city, apart from its lighthouse and Southernmost Point, favorite photo stops.

This city reveres its reputation as a welcoming oasis for artists, musicians, and writers, but also as a haven for the down-and-out, the wanderers and some of society’s “misfits.” Life in Key West's heyday was easy and inexpensive. Sleeping on the beach was once allowed, but now is frowned upon, and real estate values have skyrocketed. Of all the keys, Key West is the primary destination for most visitors. To handle the tourists, many of its fine old homes have been converted to B&Bs, rental compounds, offices, galleries, and restaurants.  

The median price of a home in Key West is around $600,000 today. Key West real estate, especially in the historic area, is highly sought after and always in demand. While there is still some undeveloped land available, it is pricey. The development has been extended to nearly smaller islands, reachable only by private boat. Although living "near" Key West is not the same experience as living "in" Key West, many prospective buyers prefer that option.

Key West is home to an active military training center that was established in 1940. Now known as Naval Air Station Key West,  it is an active command for all branches of the military, with ships, planes and helicopters operating from the base, as well as supporting the mission of the Department of Defense, Homeland Security, National Guard, other federal agencies and allied forces. 

For more information about buying or selling real estate in the Florida Keys, don't hesitate to contact us.