RIVIERA VILLAGE, REC
Homes for Sale in Key Largo, FL

RIVIERA VILLAGE, REC market snapshot (as of July 27, 2026): the median sale price is about $702K, and a median 61 days on market for closed sales. The trailing-12-month median is down 17% from the prior 12 months and up 243% since 2012, computed from record-level floridakeys closed sales (6 closings in the current window).

RIVIERA VILLAGE, REC is a community of 262 homes in Key Largo, Monroe County, built between 1924 and 2024 (median 1983), with a median living area of about 1,409 square feet. 46% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).

Riviera Village is a roughly 260-home community in Key Largo — Monroe County's northernmost Keys market — with a building stock that ranges from the mid-twentieth century through brand-new construction, giving the neighborhood an eclectic character uncommon even by Keys standards. Despite a notable near-term price correction, the community has appreciated substantially over the long cycle, which speaks to the enduring scarcity of land and water access along this stretch of the Florida Keys.

The median home here was built in 1983, and at a median of roughly 1,409 square feet of living space, Riviera Village runs compact — typical for the Keys, where lot constraints and elevation requirements limit footprint. What drives value is less about square footage and more about what the property connects to: canal frontage, ocean access, dock depth, and finished quality all move the needle far more than bedroom count alone. Buyers focused purely on interior size will likely find the price-per-foot calculation jarring unless they contextualize it against coastal land scarcity.

The homestead rate of just under 46 percent tells you roughly half the community's homes are held as primary residences, while the other half are either investment properties or seasonal holdings. That split matters operationally: expect a mix of rental-maintained homes alongside owner-occupied properties that have been updated on a personal timeline. It also shapes the negotiating dynamic — non-homesteaded sellers tend to have different carrying-cost sensitivities than full-time residents, which can work in a buyer's favor in a softening market like this one.

Monroe County real estate operates under a distinct regulatory and insurance environment — flood zones, ROGO allocation limits, septic-to-sewer transitions, and windstorm coverage requirements are deal variables that don't appear in most mainland transactions. Momentum Realty's Northeast Florida roots include extensive experience with coastal and waterfront due diligence, and we bring that same discipline to the Keys: we read the elevation certificate before the offer, we flag the permit history before the inspection, and we will tell you plainly if a property's carrying costs undermine what looks like an attractive list price.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.