Housing prices in Islamorada, Florida are on the decline and foreclosures are on the rise.
This is due primarily to the huge spike in demand that Covid created as people vacated the big cities and searched for seclusion.
That demand is now waning and interest rates have increased dramatically, causing that demand to plummet even further.
Prices spiked well above normal market values in the last 2 years and now, many of those property owners are overleveraged, causing a wave of foreclosures in Islamorada.
Browse some of the many foreclosure listings below.
Plantation Key, Islamorada FL
$316,500 Estimated Market Value $464,000
SUPER CUTE FORECLOSURE HOME IN ISLAMORADA
1/1 HOME PLUS A HUGE SECOND-FLOOR LOFT/ BEDROOM. THIS HOME IS ONE OF 6 IN THE COMMUNITY. THE HOME WAS BUILT IN 2018 AND HAS IMPACT WINDOWS, AND A DOOR. THERE IS A SLIDING DOOR TO THE BACKYARD AREA FROM THE MASTER BEDROOM. THIS HOME IS IN MOVE-IN CONDITION, WITH A TILED FLOOR, QUARTZ COUNTERTOP, STAINLESS STEEL APPLIANCES, AND A STACKABLE WASHER/DRYER