Little Torch Homes for sale
Little Torch Key is part of the lower chain of islands off the Sunshine State peninsula, stretching between the Atlantic Ocean and the Gulf of Mexico. This is one of the most traveled destinations in the Florida Keys because of its many outdoor activities. Among the most popular are scuba diving and sport fishing, others include sailing, power boating, and is considered one of the top romantic retreat spots in the United States. Though there are few businesses in operation on this particular key, nearby islands offer plenty, making this a great real estate investment opportunity.
Because of its visitor popularity and with new, more stringent building codes in effect, along with logistics difficulties in the transport of building materials, residential real estate here maintains an excellent, stable value. The average listing price for real estate properties here is nearly $849,000; however, the median sales price on the island is $400,000. The average price paid per square foot on Little Torch is $265, and the percentage of distressed properties relative to non-distressed, active listings is approximately 18 percent.
There are about 4,500 single family properties and condos on the island, with nearly 23 percent of all residents being renters. This is a sparsely populated island and its cost of living and real estate taxes are quite affordable, especially when compared to the northeast and midwest portions of the country.