Florida Keys Waterfront Real Estate Near The Infamous Jumping Bridge: 17245 Jamaica Lane is ACTIVE!
905 Grinnell Street is Now for Sale
Key West Real Estate Update: Navigating the Evolving Market – August 2025 Insights
Key West Real Estate Update: Navigating the Evolving Market – July 2025 Insights
Key West Real Estate Update: Navigating the Evolving Market – June 2025 Insights
Key West Real Estate Update: Navigating the Evolving Market – May 2025 Insights
3-YEAR MARKET COMPARISON
FEATURED LISTING
TESTIMONIALS
“TeamKaufelt was absolutely outstanding - They went well beyond the call of duty.”
NICK E.
“TeamKaufelt were the perfect realtor partners at every step.”
ROSE & JEFF W.
“They managed the process carefully and professionally to closing."
SCOTT N. & GREGORY L.
“From day one to closing, the process was smooth and issue-free, thanks to everyone on Team Kaufelt.”
LUIS C.
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Key West Market Pulse: A Season of Stability – April 2025 Insights
Key West Market Pulse: A Season of Stability – April 2025 Insights
As April comes to a close, the Key West real estate market is showing signs of welcome stability—an encouraging shift after several years of volatility. The sharp price surges of 2021 and 2022 have given way to a more balanced, sustainable environment in 2025, offering both buyers and sellers a clearer, more predictable landscape. Compared to this time last year, the market is moving at a steadier, more thoughtful pace. While demand remains healthy, the intense urgency that once defined the post-pandemic period has notably eased. Properties with architectural charm, historical significance, or prime locations continue to command attention, but decisions are being made with more strategy and less haste. This more deliberate tone is reshaping how both sides of the transaction engage. Buyers are taking the time to evaluate long-term value, while sellers are leaning into pricing and presentation to stand out. The market is no longer about who moves fastest—it’s about who moves smartest.
In short: Key West continues to offer compelling opportunities, but success today is built on preparation, patience, and precision.
FEATURED LISTING
913 Watson Street, Key West
Tucked away on one of Key West’s most private and secluded streets—seriously, if you’ve never been to 913 Watson Street, you’ve probably never been on this block—this meticulously reimagined historic home, built prior to 1912, is the epitome of island living.
TESTIMONIALS
“How do we begin to thank you all-firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure-and then to you, Ted, for your super-hard work? I know it’s been a challenging time in real estate, and we feel so lucky and grateful to have had TEAMKAUFELT to take us through it. It’s extra hard selling something with multiple owners who live far away, and y’all were totally valiant keeping us informed and giving us your best instincts to find the right buyer.”
NENNA & NICK E.
“Team Kaufelt were the perfect realtor partners at every step – from taking the most fabulous photos and video for marketing, to prepping our property for showing, vetting the prospective buyers, keeping us informed at every stage right up to the successful selling of our home. We could not recommend them highly enough!”
ROSI & JEFF W.
“Ted Stewart was professional, very responsive, and was always a step ahead. Old Town Fitness was the first business we bought in Florida and we are very happy with the service we received from TEAMKAUFELT. From rides to the airport to specific details pertaining to closing the deal, everything was smooth. Looking forward to our next commercial and/or residential deal with you in the future!”
AL F. & JOHN M.
“How do we begin to thank you all–firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure–and to you, Ted, for your super-hard work. I know it’s been a challenging time in Florida real estate, and we feel so lucky and grateful to have Team Kaufelt to take us through it.”
FERNANDA E.
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FIRST QUARTER RESULTS ARE IN | TEAMKAUFELT SNACKS
ISLAND INSIGHTS
Even the most sought-after markets experience shifts, and Key West is no exception. The first quarter of 2025
saw a slight softening—114 homes sold, down from 123 last year, with the average price per square foot dipping
from $1,042 to $1,036. While not a sharp decline, these numbers reflect a market in transition. Easing mortgage
rates are fueling more loan applications, and inventory is gradually increasing, yet buyer caution lingers amid high
prices and economic uncertainty. Still, momentum is quietly building. Sellers are showing more flexibility, and
opportunities are emerging for those who move with insight. In this evolving landscape, Key West remains a rare
find—where lifestyle and long-term value align for those are who are inspired to live the island lifestyle.
Scroll below to see how your favorite neighborhood is performing in the current real estate market:
FEATURED LISTING
810 Eisenhower Drive is a 3 bedroom and 5 bathroom property that is now offered at $4,200,000.
Discover the ultimate island escape, hidden behind a lush, tropical paradise on a coveted corner lot.
For the full listing click here.
GAIN A COMPETITIVE EDGE
Click below to download our electronic marketing kit now
TESTIMONIALS
“TEAMKAUFELT was absolutely outstanding--Lynn, Jackson, and Ted are wonderful people with a deep knowledge of Key West and how it works; they are warm and kind, as well as impeccably professional and highly motivated. The property had been left to six grandchildren living at opposite ends of the country, and TEAMKAUFELT completely took charge in the best possible way. They went well beyond the call of duty .”
NENNA & NICK E.
"TEAMKAUFELT were the perfect realtor partners at every step - from taking the most fabulous photos and video for marketing, to prepping our property for showing, vetting the prospective buyers, keeping us informed at every stage right up to the successful selling of our home. We could not recommend them highly enough!"
ROSI & JEFF W.
"Ted Stewart was professional, very responsive, and was always a step ahead. Old Town Fitness was the first business we bought in Florida and we are very happy with the service we received from TEAMKAUFELT. From rides to the airport to specific details pertaining to closing the deal, everything was smooth. Looking forward to our next commercial and/or residential deal with you in the future!"
AL F. & JOHN M.
"How do we begin to thank you all--firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure--and to you, Ted, for your super-hard work. I know it's been a challenging time in Florida real estate, and we feel so lucky and grateful to have TEAMKAUFELT to take us through it."
FERNANDA E.
TEAMKAUFELT MARKETING
COMMUNITY SUPPORT
February 2025 Key West Real Estate: A Market In Motion
THE PEAK OF THE SEASON IS HERE
Just a few years ago, the Key West real estate market was a fast-moving game, with homes selling quickly and pricesclimbing higher with each passing month. But as 2025 unfolds, the landscape is shifting. For-sale signs are lingering
longer in front yards, and sellers are adjusting their expectations as inventory rises. This change has led to more competition
among sellers, triggering 160+ price reductions in the first two months alone. Once sky-high home values have started
to dip, with the average price settling at around $1,3650,000-a 1.3% decline from last year. Meanwhile, buyers are still
taking their time, with properties spending on average 64 days on the market. The forces behind this shift are complex.
Increased insurance costs and concerns about climate-related risks have made buyers more hesitant, while broader
economic uncertainty has slowed the once-frantic pace of transactions. Yet, there’s still a glimmer of optimism on
the horizon. As mortgage rates begin to ease and economic conditions improve, experts predict a stabilization in the
market this year. Across Florida, the once-explosive growth in home values is giving way to a more balanced real
estate environment, and Key West is no exception. For those looking to buy, this evolving market presents an
opportunity-more choices, better negotiating power, and the chance to secure a home in paradise at a more
reasonable price.
Scroll below to see how your favorite neighborhood is performing in the current real estate market:
FEATURED LISTING
Discover the ultimate island escape, where luxury knows no limits and every detail is designed to wow. For the full listing click here.
EXCLUSIVE LISTINGS
GAIN A COMPETITIVE EDGE
Click below to download our electronic marketing kit now
TEAMKAUFELT TESTIMONIALS
“How do we begin to thank you all-firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure-and then to you, Ted, for your super-hard work? I know it’s been a challenging time in real estate, and we feel so lucky and grateful to have had TEAMKAUFELT to take us through it. It’s extra hard selling something with multiple owners who live far away, and y’all were totally valiant keeping us informed and giving us your best instincts to find the right buyer.”NENNA & NICK E.
“Team Kaufelt were the perfect realtor partners at every step – from taking the most fabulous photos and video for marketing, to prepping our property for showing, vetting the prospective buyers, keeping us informed at every stage right up to the successful selling of our home. We could not recommend them highly enough!”
ROSI & JEFF W.
“Ted Stewart was professional, very responsive, and was always a step ahead. Old Town Fitness was the first business we bought in Florida and we are very happy with the service we received from TEAMKAUFELT. From rides to the airport to specific details pertaining to closing the deal, everything was smooth. Looking forward to our next commercial and/or residential deal with you in the future!”
AL F. & JOHN M.
“How do we begin to thank you all–firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure–and to you, Ted, for your super-hard work. I know it’s been a challenging time in Florida real estate, and we feel so lucky and grateful to have Team Kaufelt to take us through it.”
FERNANDA E.
TEAMKAUFELT MARKETING
COMMUNITY SUPPORT
January 2025 Key West Real Estate Market Report
PEAK SEASON IS HERE
As peak season unfolds, the Key West real estate market is showing steady, though cautious, activity. While January began slower than expected, market dynamics suggest both buyers and sellers are adjusting to evolving conditions. Inventory is rising, providing buyers with more options, but also leading to an increase in stale listings. This has prompted 110 price reductions in January alone, signaling heightened seller motivation. Interest rates, now stabilizing around 6-7%, are becoming more accepted as the new normal. This shift in buyer expectations could drive increased sales in the coming months. Additionally, with the election behind us, reduced political uncertainty may further encourage market activity, though the impact of new housing policies remains to be seen. While the year started with moderated momentum, rising inventory, strategic pricing, and stabilizing rates point to potential growth in the Key West real estate market. Staying attuned to policy changes and market trends will be key for navigating the season ahead.
FEATURED LISTING
3731 Eagle Avenue is a 3 bedroom and 3 bathroom property that is now offered at an incredible new price: $2,120,000! Designed and built by a locally renowned contractor this home is an exceptionally crafted two-story masterpiece.
For the full listing click here.
EXCLUSIVE LISTINGS
GAIN A COMPETITIVE EDGE
Click below to download our electronic marketing kit now
TEAMKAUFELT TESTIMONIALS
“How do we begin to thank you all-firstly, Lynn and Jackson, who were such good friends to Dad and whose company brought him so much pleasure-and then to you, Ted, for your super-hard work? I know it’s been a challenging time in real estate, and we feel so lucky and grateful to have had TEAMKAUFELT to take us through it. It’s extra hard selling something with multiple owners who live far away, and y’all were totally valiant keeping us informed and giving us your best instincts to find the right buyer.”
NENNA & NICK E.
“Team Kaufelt were the perfect realtor partners at every step – from taking the most fabulous photos and video for marketing, to prepping our property for showing, vetting the prospective buyers, keeping us informed at every stage right up to the successful selling of our home. We could not recommend them highly enough!”
ROSI & JEFF W.
“Ted Stewart was professional, very responsive, and was always a step ahead. Old Town Fitness was the first business we bought in Florida and we are very happy with the service we received from TEAMKAUFELT. From rides to the airport to specific details pertaining to closing the deal, everything was smooth. Looking forward to our next commercial and/or residential deal with you in the future!”
AL F. & JOHN M.
“Lynn Kaufelt and her team are outstanding. Lynn herself is the leading realtor in Key West FL, having lived and worked here for several decades. She is universally admired and respected, both as a realtor and as a member of the community. Her team are all outstanding in their own right – knowledgeable, helpful, responsive, and completely committed.”
CLAIR M.
TEAMKAUFELT MARKETING
COMMUNITY SUPPORT
2024 OCTOBER REPORT
Key West Real Estate Market Trends so far in 2024
The Key West real estate market and the Lower Florida Keys remain among the most desirable and competitive real estate markets in the United States, known for stunning natural beauty, tropical charm, and a unique lifestyle that appeals to residents and investors alike. As we move through the end of 2024, the Key West real estate market continues to be characterized by strong demand, limited inventory, and high property values. This article delves into the current state of the Key West real estate market, exploring factors that drive its resilience, trends in home prices, investment opportunities, future expectations for this coveted region, and will share how each neighborhood is performing.
Strong Demand and Limited Inventory in Key West
Inventory shortages persist, with fewer homes for sale than buyers seeking properties. This tight supply has led to longer days on the market and occasional competitive bidding situations. Investment in vacation rentals is also still strong, although prospective buyers should stay aware of Key West's specific regulations regarding short-term rentals, as local ordinances can affect profitability.
Balancing Market Trends: Opportunities for Buyers and Sellers
As the Key West market matures, we see a gradual balancing of supply and demand. While properties are staying on the market longer than in previous years, the demand remains strong, ensuring that sellers are still well-positioned. For sellers, this means an opportunity to command solid prices while benefiting from increased market exposure. A well-prepared and strategically marketed listing can still attract motivated buyers eager to secure a spot in paradise.
For buyers, the current market conditions provide a more measured purchasing environment. While inventory remains limited, there is slightly less competition than in the peak years, allowing buyers to explore their options more thoroughly and make informed investment decisions.
The Future of Key West Real Estate: What’s Next?
The Key West real estate market is likely to maintain its appeal well into 2025 and beyond. The factors fueling demand—scenic beauty, high quality of life, and strong cultural identity—are enduring and only expected to grow in value as more buyers prioritize lifestyle-driven decisions. While economic shifts and interest rate changes may influence the broader market, Key West’s unique attributes help insulate it from many fluctuations, making it a resilient choice for real estate investment.
Looking ahead, both the Key West and Lower Keys markets are expected to evolve, with potential for more development in underutilized areas. However, given Key West’s finite space and preservation efforts, significant expansion remains unlikely, further supporting the long-term value of existing properties.
Insights for Prospective Buyers and Sellers
For those considering buying or selling property in Key West, working with a knowledgeable real estate professional is essential. Market conditions, local regulations, and zoning laws require expert navigation to ensure a smooth and successful transaction. Experienced realtors familiar with the Key West market can provide valuable insights into property values, neighborhood dynamics, and investment opportunities.
Whether you are interested in a primary residence, vacation home, or rental investment, understanding the nuances of the Key West market can help you make a confident, well-informed decision.
Summary
Key West continues to stand out as a top-tier real estate market, offering both stability and opportunity for those looking to invest in one of Florida’s most beloved islands. With its compelling mix of natural beauty, strong demand, and limited supply, the Key West real estate market is positioned for sustained success.
TEAMKAUFELT TESTIMONIALS
“A huge thank you to Jackson Kaufelt for his outstanding dedication to selling our home. When you're selling a piece of your heart, you want a professional who can get you top dollar and guide you smoothly through the entire process. Jackson was available anytime to answer all of our questions (we had a lot of those!).”
GRETCHEN AND DEAN D.
“Team Kaufelt were the perfect realtor partners at every step - from taking the most fabulous photos and video for marketing, to prepping our property for showing, vetting the prospective buyers, keeping us informed at every stage right up to the successful selling of our home. We could not recommend them highly enough!”
ROSI & JEFF W.
“Ted Stewart was professional, very responsive, and was always a step ahead. Old Town Fitness was the first business we bought in Florida and we are very happy with the service we received from TEAMKAUFELT. From rides to the airport to specific details pertaining to closing the deal, everything was smooth. Looking forward to our next commercial and/or residential deal with you in the future!”
AL F. & JOHN M.
“Lynn Kaufelt and her team are outstanding. Lynn herself is the leading realtor in Key West FL, having lived and worked here for several decades. She is universally admired and respected, both as a realtor and as a member of the community. Her team are all outstanding in their own right - knowledgeable, helpful, responsive, and completely committed."
CLAIR M.
TEAMKAUFELT MARKETING
COMMUNITY SUPPORT
In the first of half of 2023, the average sale price of homes in Key West increased by 10%, however, the overall number of transactions closed decreased by 58%. Click the link below to see the entire real estate market update for Key West and learn how TEAMKAUFELT is continuing... to excel in an ever changing Key West real estate market.
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