Is Islamorada, Village of Islands, 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, Islamorada, Village of Islands was a Seller's Market.
Key Takeaway
Islamorada, Village of Islands is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Islamorada, Village of Islands, FL
How much do homes in Islamorada, Village of Islands, FL cost?
Median Sold Price
$1,910,000
$906/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Islamorada, Village of Islands have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Islamorada, Village of Islands was $1,910,000 in May 2024, up 0.5% from last year, and the median price per square foot was $906.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $400K | N/A |
| 2 Bedrooms | $729K | $580K | -20.4% |
| 3 Bedrooms | $2.0M | $1.5M | -25.5% |
| 4 Bedrooms | $2.0M | $2.5M | +26.9% |
| 5+ Bedrooms | $4.8M | $2.8M | -42.3% |
Summary: Islamorada, Village of Islands housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.4%, 3 bedroom homes decreased by 25.5%, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes decreased by 42.3%.
Median Sold Price Compared To Nearby Cities
| Upper Keys | $840K | $1.0M | +19.3% |
| Tavernier | $1.0M | $1.1M | +7.1% |
| Islamorada, Village of Islands | $1.9M | $1.9M | 0.5% |
| Islamorada | $2.0M | $1.9M | -6.8% |
Housing Supply in Islamorada, Village of Islands, FL
How many homes are available in Islamorada, Village of Islands, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 67 | +17.5% |
Summary: The Islamorada, Village of Islands real estate market had 67 homes for sale in May 2024, a 17.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 31 | 35 | +12.9% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Islamorada, Village of Islands housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Islamorada, Village of Islands, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Islamorada, Village of Islands in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Islamorada, Village of Islands, FL
How long does it take to sell a home in Islamorada, Village of Islands, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 102 Days | 12 Days | -87.9% |
Summary: Homes in Islamorada, Village of Islands had an average of 12 days on market in May 2024, down by 87.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Islamorada, Village of Islands are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Islamorada, Village of Islands; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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