Hello Clients, Family & Friends,

Happy New Year from the Florida Keys! As we welcome January, we’re excited to embrace fresh opportunities and a bright start to 2025. It’s the perfect time to set new goals, reflect on the past year’s accomplishments, and look ahead to all the possibilities this year holds. The islands are full of energy and beauty, making January an ideal moment to enjoy everything the Keys have to offer.

We are so grateful for your trust and support. Whether you’re thinking about buying your dream home, making a new investment, or staying updated on the market, we’re here to provide the expert guidance you deserve. Staying informed is essential, and our commitment to delivering the latest insights remains stronger than ever. After all, #GoodToKnow is more than a motto—it’s our promise to you.

This Month’s Highlights:

• Up-to-date market stats for your neighborhood
• Our Featured Listing of the Month
• #GoodToKnow Real Estate Insights
• Local news and events in the Keys

Thank you for being part of our journey. Here’s to an incredible start to the New Year, filled with success, happiness, and opportunity. We look forward to helping you navigate the Keys real estate market in 2025!

Cheers to a fantastic January!  Andy Birrell

2024: A Year Defined by the 4 "I's" in Real Estate

We closed out the year incredibly strong. We were involved in twice the number of transactions as our next closest competitor and handled more transactions than the three companies behind us combined. We can proudly say that for the 68th year in a row, we finished the year as the #1 office in Key West.

It wasn’t an easy year—undoubtedly one of the toughest we’ve seen in a long time. But through hard work, resilience, and unwavering dedication, we rose to the challenge. None of this would have been possible without the trust of our clients, the support of our community, and the incredible effort from everyone on our team.

As we look back on 2024, it's clear that the real estate market was shaped by four key factors: Interest rates, Inventory, Inflation, and Insurance. These elements played pivotal roles in influencing buyer behavior, market trends, and overall property values throughout the Florida Keys. Despite the challenges these factors posed, the resilience of the Keys market continues to shine through.

Florida Keys Market Trends: A Resilient Landscape

The Florida Keys real estate market is navigating a dynamic and shifting environment. While new listings surged, climbing 14% higher than last year, the number of properties going under contract saw a 10% decline.

Despite these fluctuations, one aspect remains steadfast: property values. The average sale price Keys-wide has risen to $1,270,393, marking a 2% increase compared to last year. This upward trend underscores the ongoing appeal of Florida Keys real estate, even amid changing supply and demand dynamics.

Interest rates and inventory remain pivotal drivers of the residential real estate market.

We’re grateful for the opportunities we had this year and excited to keep striving for even greater success in the year ahead.

As always, for the most accurate and up-to-date insights tailored to your island or property, connect with me, your #ForeverAgent, at keysrealestate.com.

Welcome to a truly one-of-a-kind historic masterpiece in Key West's coveted Meadows neighborhood. This exquisite estate seamlessly blends timeless charm with modern luxury. Nestled on a rare 11,200 sq. ft. lot, the property offers over 4,180 sq. ft. of living space, including a detached one-bedroom guest quarters, creating the ideal balance of comfort, style, and functionality. Stepping onto the grounds, you're immediately transported to a serene tropical oasis surrounded by meticulously designed landscaping featuring mature native foliage and aromatic tropical plants. At the heart of the backyard lies an expansive saltwater pool and spa with a cascading waterfall, framed by historic Key West curbstones. Durable Ipe wood decking and a spacious patio enhance the estate's natural beauty and functionality. A lighted gazebo with a built-in grill and cabinetry provides the perfect setting for outdoor dining and entertaining. Inside, the home's historic elegance is unmistakable. Soaring 14-foot coffered ceilings, intricate crown molding, and original wood floors reflect masterful craftsmanship. The gourmet kitchen is a chef's dream, overlooking the pool and outdoor spaces. It features a six-burner Viking stove, dual ovens, dual dishwashers, and a 1,000-bottle wine cellar—ideal for both intimate gatherings and formal entertaining. Privacy and tranquility abound throughout the estate. The separate one-bedroom guest quarters offer a secluded retreat for visitors, while a luxurious steam room elevates relaxation. Every detail has been thoughtfully curated to preserve the home's historic character while enhancing modern comfort. Ideally located in a prime historic neighborhood, the estate is within walking distance of the vibrant Historic Seaport, Key West Bight Marina, Atlantic beaches, and Duval Street's renowned dining, shopping, and nightlife. This legacy property is more than a home—it's a true piece of Key West history in a setting that simply cannot be duplicated.

Thanks to social media, some homebuyers can be ruthless in describing your home to others. If they call your home cheugy (choo-gee), they believe you’re pursuing trends a little too hard, or your home is outdated. What makes a home cheugy is hard to pin down, but these are a few things that writers, redditors, and designers have called out:

Swap inspirational signs like “Live, Love, Laugh” with vintage or abstract art. Ditto for obvious statement signs like “Eat.”

Giant TVs taking over the living room. The trend of discreet tech: “hidden speakers, wireless charging furniture, and voice-controlled lighting” along with hidden TVs are now preferable.  

Shower curtains, bath rugs, and old towels seldom look fresh and clean. Better to install a glass enclosure or buy new bath accessories.

Gray paint, the new neutral following the Great Recession, is now old and well...gray.  Try a bolder grayed blue, sage green, or mushroom instead. 

It’s ironic, but the word cheugy will soon be cringy, too.

Article provided by the Keys Weekly
Written by: Mandy Miles
Photo: Willie Nelson performs in Key West at age 90. LARRY BLACKBURN/Keys Weekly

As we wrap up another year in Key West, we take a look at the news and newsmakers from 2024 — the good, the bad and the embarrassing.

A few highlights from each month:

JANUARY 

• Key West faces busy city election: three commissioners to reach term limits; Mayor Teri Johnston decides not to run again; Dee Dee Henriquez pursues mayor’s gavel.

MARCH

• Florida Legislature gives 1-time approval for Monroe County to spend surplus tourism revenue on affordable housing.

MAY

• Elwell family’s Royal Furniture empire celebrates 40 years of furnishings. 

JULY

• 10,000 people cast more than a quarter-million votes in the Keys Weekly’s 11th annual Bubbas: Key West People’s Choice Awards.

SEPTEMBER

• A1A renamed Jimmy Buffett Memorial Highway.

To read the entire article & see the highlights from each month select --> HERE

Five Nights of Music in Paradise

January 21^st - January 25^th, 2025

Calling all music lovers! Immerse yourself in the laid back island vibes of Mile 0 Fest Key West, a premier boutique music festival. Each year boasts a stellar lineup of established and rising artists performing in beautiful outdoor venues. Experience all Key West has to offer while listening to your favorite bands and making new life-long friends.

With only a few thousand passes available, don't wait to book your dream music vacation!

For the 2025 Lineup, select --> HERE

January 2: First Thursday @ Studios of Key West

January 2, 9, 16, 23, 30: Truman Waterfront Market

January 3: 1st Fridays on Fleming

January 3-4: Pole Vault in Paradise

January 4: KW Library Book Sale

January 5: Locals Day @ The Botanical Gardens

January 6: Paint Your Pet Party – Summerland; benefits FLK SPCA

January 7, 13, 14, 20, 21, 27, 28: Glow Hours on Hugh’s View

January 8 & 22: Yappy Hour @ Perry Hotel; benefits FLKSPCA

January 9-12:  Key West Literary Seminar

January 10: KW Outdoor Movies @ East Martello Parade Grounds

January 10 & 11: Wounded Warrior Project Soldier Ride

January 12 & 26: Sheriff’s Animal Farm Open

January 12 & 26: KW Artisan MKT @ Higgs Beach

January 12 & 26:  Impromptu Classical Concert @ St Paul’s Episcopal Church

January 13, 20, 27: Friends of Library Speaker Series

January 15-19: KW Kingfish Mayhem

January 16: Walk on White

January 16 & 19: Symphony Orchestra Concert

January 17-19: Key West Half Marathon

January 18: KW Botanical Gardens Native Plant Sale

January 18: Paddle for Paws in Cudjoe, benefits FLK SPCA

January 18 & 19: BHHS K & G Parade of Homes

January 19: Southernmost Car Club Show and Shine @ Sugarloaf Lodge

January 20-25: The Southernmost Regatta

January 21-25: Mile 0 Fest @ Amphitheater

January 23 – February 2: Sundance Film Festival

January 24-25: Key West Home Tours

January 25: Movies Under the Stars on Eaton ST @ Tropic Cinema

January 26: Wreckers Race @ Schooner Wharf

January 30 – February 1: Fringe & Designing Eyes Optical Boutique @ The Armory

• Events are subject to change