Lido Key Real Estate & Homes for Sale

In November 2024, the Lido Key housing market experienced a dramatic shift, with home prices plummeting 74.4% year-over-year to a median price of $950,000. This significant drop may indicate a correction in the market or a shift in the types of properties being sold, such as fewer luxury or high-value homes. The average time on the market also increased notably, with homes taking 164 days to sell compared to 104 days in November 2023, suggesting slower buyer activity or greater hesitancy in the current market climate. Additionally, only 3 homes were sold this November, a sharp decline from the 14 sales recorded last year. This reduced transaction volume, coupled with extended listing periods, highlights a cooling trend in Lido Key’s real estate market, offering opportunities for strategic buyers while posing challenges for sellers.

Lido Key’s real estate market is relatively low in competitiveness, with homes typically taking around 103 days to sell. Multiple offers are uncommon, reflecting a more measured buyer interest. On average, properties sell for approximately 7% below their list price, with most transactions going pending within the 103-day timeframe. However, “hot homes”—those that stand out for their location or features—tend to perform slightly better, selling for about 2% below list price and going pending in around 66 days. This trend suggests that while the market may be slower overall, properties with unique appeal still attract quicker interest from buyers.

As of December 2024, Lido Key is classified as a buyer’s market, where the supply of available homes surpasses buyer demand. This market dynamic offers favorable conditions for buyers, who often benefit from increased negotiating power and a broader selection of properties. Sellers, on the other hand, may face longer listing periods and the need for competitive pricing to attract potential buyers. This environment reflects a period of transition in Lido Key’s real estate market, providing an excellent opportunity for buyers to secure a property in this desirable coastal area at potentially advantageous terms.