Ocean Reef Shores Homes for Sale

Ocean Reef Shores is a residential community in Key Largo, Florida. Active listings are currently priced from $670K–$925K.

Pure Equity Realty covers Ocean Reef Shores and the Key Largo area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 2 Ocean Reef Shores Key Largo homes for sale as of October 2026. The median asking price is $808,000. Asking prices run from $670,000 to $945,000.

That is 6% below the Key Largo median of $859,000. On a per-foot basis, homes here ask about $377 per square foot, compared with $672 across Key Largo. So the median price buys roughly 2,150 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 76 days on the market. That is faster than the Key Largo average of 171 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Ocean Reef Shores date from 1986 to 1995. That puts them between 31 and 40 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Here is what the median Ocean Reef Shores price means in Florida closing terms. At $808,000, a 20% down payment comes to about $162,000, leaving a loan near $646,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $2,261. Next, the intangible tax of 0.2% adds about $1,292. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Ocean Reef Shores median, that is about $5,653.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Ocean Reef Shores listings show assignments to Key Largo (elementary), Key Largo (middle) and Coral Shores (high). However, boundaries can change each year, so confirm the assignment for a specific address with the county school district.