Key West's long and colorful past begins with its European discovery in 1513 by Ponce de Leon. The island was first known as Cayo Hueso (Isle of Bones) because it was littered with remains from an Indian battlefield or burial ground. The name "Key West" is the English version of the Spanish term. The first permanent occupancy in the City occurred in 1822, complete with a small naval depot, whose purpose was to rid the area of pirates. The presence of the U.S. Navy has been a major factor in the growth and development of Key West ever since. The settlement was incorporated in 1828, four years after becoming the county seat of Monroe County.
The city’s economy is dependent upon mainly Tourism. Other industries include Real Estate sales and Improvements, Local Artists, Many Local Authors including Ernest Hemingway, a presence of the US Military organizations, Federal State and Local Government.
As Key West is a highly popular tourist destination is also a desirable residential location. This attraction plus the fact that it is an island with no expansion capacity has resulted in significant annual increases in assessed property values. This weblog will allow you to follow The Key West Real Estate Market with daily updates on market activity on the island.
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