CAY CONDO
Homes for Sale in Key Colony, FL
True comps, carrying-cost math, and listings before the portals.
Cay Condo sits in Key Colony, Monroe County — the Florida Keys, where land scarcity and coastal exposure set the pricing floor far more than interior finishes do. The median price of $487,500 reflects that geography premium. With only four closings recorded in the current window, the data pool is thin, and individual unit condition, floor level, and water orientation create wide spread around that single median figure.
The market posture here is cautious. A year-over-year decline of 8.6 percent and a median days-on-market of 63 days tell the same story: buyers have leverage they did not have recently, and sellers who price ahead of the market are sitting. For a buyer, that combination creates real negotiating room; for a seller, it means price precision and patience are non-negotiable.
CAY CONDO right now
🔴 Off the recent peak. The trailing-12-month median ($488K) is down 8.6% from the prior 12 months ($534K). With about 3 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level floridakeys closed sales, 12-month windows ending July 27. Confidence: Low (4 and 4 sales in the two windows).
What's unique here: the median sale price is about 49% below the typical Monroe County sale ($488K vs $950K, trailing 12 months, floridakeys records).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
Updated July 27, 2026 · Live data: floridakeys, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
CAY CONDO market snapshot (as of July 27, 2026): the median sale price is about $488K, and a median 63 days on market for closed sales. The trailing-12-month median is down 9% from the prior 12 months, computed from record-level floridakeys closed sales (4 closings in the current window).
Cay Condo is a small condominium community in Key Colony, a barrier-island municipality in Monroe County, where the inventory is structurally limited and the market moves slowly enough — a median of 63 days on market — that neither buyer nor seller should expect a quick transaction.
Who CAY CONDO is best for.
Best for
- A buyer targeting a Keys condominium near the median of $487,500 who wants negotiating room and time to conduct thorough due diligence.
- A buyer who has already priced out Monroe County flood insurance, HOA reserves, and association special assessments and is comfortable with those carrying costs.
- A patient buyer who is not dependent on a fast transaction and can let the 60-plus-day market dynamic work in their favor.
Probably not for
- A buyer expecting to rely on recent appreciation trends — the year-over-year data points in the opposite direction.
- A buyer who needs robust MLS-documented amenities as part of the value equation — none were identified in current listings.
- A buyer working with a tight timeline or contingent on a fast sale elsewhere, given the 63-day median days-on-market.
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 27 of each year, from record-level floridakeys closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($488K) IS the median in the snapshot above, and the move from 2025 ($534K) IS the -8.6% one-year change.
Windows contain 0 to 8 sales each (4 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing data provided by Florida Keys MLS, Inc. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The CAY CONDO buying strategy.
If we were buying in CAY CONDO today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in CAY CONDO.
Reading a thin, softening Keys condo market
Four closings in the measurement window is not enough volume to call a trend with confidence, but the 8.6 percent year-over-year price decline and the 63-day median days-on-market are directionally consistent: this pocket of the Keys condo market is correcting. Buyers should not interpret the median of $487,500 as a ceiling or a floor — with this few transactions, a single outlier unit moves the needle, and the spread between the best-positioned unit and a deferred-maintenance property can be substantial.
No community amenities were identified from current MLS listings, which is worth noting at this price point. In the Keys, condominium value often depends heavily on shared amenities — dockage, pool, waterfront access — and their absence or omission from listings is a detail any serious buyer should resolve before going under contract. Due diligence on association financials, insurance costs, and flood-zone classification is essential in Monroe County and should be treated as load-bearing, not optional.
The location and the amenities are priced into every listing in CAY CONDO. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
A thin, declining market in a specialized geography like Monroe County is exactly where having a brokerage with disciplined data habits matters. Momentum will not dress up a soft market to get a listing, and we will not let a buyer overpay because comp volume is low and the narrative is fuzzy. We run the numbers from the actual closing record, flag what the MLS omits — amenities, association health, insurance exposure — and give you a clear-eyed read before you commit.
CAY CONDO in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a CAY CONDO buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed CAY CONDO sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in CAY CONDO, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your CAY CONDO home worth?
Get a no-obligation home value based on real comparable sales in CAY CONDO, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See homes for sale in CAY CONDO on the map →
Frequently Asked Questions
What is the median home price in CAY CONDO?
How long do homes in CAY CONDO take to sell?
Do cash buyers compete in CAY CONDO?
Who is the best real estate agent for CAY CONDO?
How do I find a top Key Colony real estate agent who knows CAY CONDO?
Can Momentum Realty connect me with an agent for CAY CONDO?
Should you buy in CAY CONDO?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Community market stats | floridakeys closed sales, 12-month windows ending July 27, 2026 |
| Historical depth | Closed-sale records back to 2009 (44 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of floridakeys records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
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The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the floridakeys member average and 8 days faster, and we’ll price yours against live your area comps.
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More Key Colony & The Florida Keys & Monroe County guides
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