Luxury Market Update
Can you believe it’s mid-October and that the holidays are just around the corner? This means that many of our “northern neighbors” will be making their way back to Casey Key and this beautiful island paradise we get to call home!
Year to date, we have had 13 single family homes sales and 3 vacant land sales on the key which is slightly less than 2014 for the same time period; however, the average sale price for a single family home on Casey Key is up from $2.4 million to $3 million. Additionally, although sales have slowed down, buyer interest certainly has not; just this past week, I had 8 showings on the key!
Inventory remains low and the quantity of newer homes is challenging for buyers who do not want to remodel or maintain the older structures. With one “spec” home almost completed, and another one with pilings driven, we could begin to see more spec building on the key if the builders are able to secure the few available lots and/or tear downs.
|2015 CASEY KEY SINGLE FAMILY HOME SALES YTD|
|ADDRESS||SOLD DATE||LIST PRICE||SOLD PRICE||LAND SF||HEATED SF||WATER FRONTAGE|
|709 CASEY KEY RD||1/30/2015||$2,795,000||$2,675,000||23,972||5,062||GULF|
|1716 CASEY KEY RD||1/30/2015||$3,490,000||$3,150,000||42,615||2,370||GULF-TO-BAY|
|2110 CASEY KEY RD||2/19/2015||$5,900,000||$4,800,000*||34,735||5,816||GULF-TO-BAY|
|703 CASEY KEY RD||4/15/2015||$5,750,000||$5,300,000||33,966||4,648||GULF + BAY PARCEL|
|1624 CASEY KEY RD||5/1/2015||$1,675,000||$1,520,000||9,841||2,353||GULF-TO-BAY|
|721 CASEY KEY RD||5/1/2015||$4,999,999||$4,300,000||24,781||4,828||GULF|
|141 N. CASEY KEY RD||5/5/2015||$2,499,000||$2,175,000||18,068||2,260||GULF|
|927 CASEY COVE DR||5/29/2015||$3,390,000||$2,900,000||11,926||5,515||BAY|
|2502 CASEY KEY RD||6/1/2015||$1,350,000||$1,075,000||10,125||2,202||BAY|
|920 CASEY COVE DR**||7/2/2015||$ 925,000||$ 860,000||8,664||2,705||NONE|
|3601 CASEY KEY RD||7/2/2015||$6,245,000||$5,392,500||35,650||6,991||GULF|
|13 N CASEY KEY RD||7/31/2015||$2,499,999||$2,050,000||34,750||2,354||GULF|
|904 CASEY COVE RD||9/30/2015||$3,125,000||$2,8872,500||19,735||4,600||BAY|
**Property was REO/Bank-owned
|2015 CASEY KEY VACANT LAND SALES|
|ADDRESS||SOLD DATE||LIST PRICE||SOLD PRICE||LAND SF||WATER FRONTAGE||FRONT FOOTAGE|
|S. CASEY KEY RD
|4/23/2015||$ 695,000||$ 650,000||21,379||BAY||97’|
|728 N. CASEY KEY RD||6/12/2015||$4,950,000||$3,700,000||65,143||GULF-TO-BAY||151’|
|606 S. CASEY KEY RD||7/17/2015||$2,995,000||$2,625,000||50,530||GULF-TO-BAY||100′|
Additionally, there is 1 home that is Active with Contract and 2 other homes with sales currently pending.
|2015 CASEY KEY SINGLE FAMILY HOMES UNDER CONTRACT OR PENDING|
|STATUS||ADDRESS||LIST PRICE||LAND SF||HEATED SF||WATER FRONTAGE|
|ACTIVE W/CONTRACT||505 S CASEY KEY RD||$ 939,900||15,651||2,104||BAY|
|PENDING||2501 CASEY KEY RD||$3,250,000||38,925||4,321||GULF-TO-BAY|
|PENDING||507 CASEY KEY RD||$5,995,000||31,235||6,861||GULF|
MY NEWEST LISTING – CALL ME FOR A SHOWING
“Hedekin Point” is privately situated on Cutlass Bayou, east of Casey Key Road, right at the “point” with
the most spectacular views of the Intracoastal waterway. This Tim Siebert-designed residence is surrounded
by a canal with a seawall on the north side, a bank of trees with winding pathways on the south side’s canal,
and then the property opens to fabulous bay views as you walk around the residence. This property offers numerous opportunities for either remodeling the existing structures (there is a separate artist’s studio
and a separate guest suite) or building new. With over 1,000 feet of waterfront, deeded access to a wide beach, easy access from Blackburn Point, the sky is the limit for building your dream home on this exquisite
piece of land—there simply is nothing to match this privacy on the key.
If you are considering selling, or perhaps buying another property, please contact me for a complimentary comparative market analysis.
I will continue to keep you posted on sales activity in our beautiful area and I look forward to seeing you on and around the key.