Sugarloaf Key Real Estate Market
The Sugarloaf Key real estate market is one that’s surprisingly accessible. Located in the Lower Keys, Sugarloaf Key is approximately three and a quarter hours to Miami but less than a half hour to Key West. It’s actually two communities, combined into one by a strange optical illusion. It’s home to Lower Sugarloaf Key and Upper Sugarloaf Key, due to its “U” shape.
Once home to a variety of pineapple known as sugarloaf, today, it’s known simply for its natural beauty. And, the Sugarloaf Key real estate market also serves up some good news.
Sugarloaf Key Real Estate Market
The Sugarloaf Key real estate market is a vibrant one and for good reason. It’s one of the most desirable locations to live in on the Florida Keys. Upper Sugarloaf Key is sparse, so most residents are located in Lower Sugarloaf Key. Approximately 82 percent of its residents are homeowners and its a low crime area.
Not unlike many of its peer islands in the Lower Florida Keys, Sugarloaf Key real estate is somewhat expensive but not relative to the Keys itself. Here, homes don’t stay on the market for long. In fact, turnover is very low. But, when properties do go on the market, they are bought quickly.
Here in Sugarloaf Key, real estate prices range greatly, depending on size, floor plan, and equipped amenities. At present, the median home sales price stands at $566,500, with the price per square foot at $411. However, this represents only a 1 percent downswing in a year-over-year comparison.
Article courtesy of Diane Corliss, your Sugarloaf Key Real Estate agent