Florida Keys Real Estate Market Update: October 2026
Residential Market Trends from Key West to Key Largo
The Florida Keys real estate market continues to tell a different story from island to island. Whether you're considering buying, selling, or simply keeping an eye on your property's value, understanding local market conditions can help you make more informed decisions.
Our October 2026 residential market report takes a closer look at home sales, pricing, and inventory across the Florida Keys, comparing October 1–30, 2026, with the same period in 2025.
From Key West and the Lower Keys to Marathon, Islamorada, and Key Largo, here's what the latest numbers reveal.
Florida Keys Real Estate Market at a Glance
Across the Florida Keys, 127 residential properties sold during the reporting period, compared to 126 during the same period last year, representing a 1% increase in closed sales.
The average residential sale price reached $1,602,114, an 8% increase year over year, while the median sale price climbed 16% to $1,055,000.
Meanwhile, active residential listings declined 11%, from 1,659 to 1,481, and new listings decreased 9% to 286.
Homes sold for an average of 94% of their list price, compared to 93% during the same period in 2025.
These figures reflect a market where sales activity remained relatively steady despite fewer available listings. However, market conditions varied considerably throughout the island chain.
Key West & Surrounding Islands | Mile Markers 0–12
Key West and its surrounding islands recorded 26 residential sales, compared to 35 during the same period last year, a 25% decrease.
The average residential sale price was $1,306,231, down 10% year over year, while the median sale price remained relatively stable at $1,057,000.
Active residential listings declined 6%, with 399 properties compared to 429 a year earlier.
The Local Perspective: The Key West market experienced fewer completed sales and a modest decline in inventory. While the average sale price decreased, the relatively stable median price suggests that the types and price ranges of homes sold may have influenced the overall average. For buyers and sellers in Key West, Stock Island, and surrounding communities, neighborhood-specific pricing and recent comparable sales remain important considerations.
Lower Keys | Mile Markers 13–40
The Lower Keys recorded 24 residential sales, up from 20 during the same period in 2025, representing a 20% increase.
The average residential sale price was $1,039,750, essentially unchanged year over year, while the median sale price held steady at $875,000.
Active inventory declined 4%, from 276 to 263 properties. New listings increased 11%, with 59 properties entering the market.
The Local Perspective: The Lower Keys demonstrated steady pricing alongside an increase in completed sales. Communities including Big Pine Key, Cudjoe Key, Summerland Key, and Sugarloaf Key continue to offer a wide variety of residential properties, from waterfront homes to established island neighborhoods. With different property types and price points throughout the region, local market knowledge remains especially valuable.
Middle Keys | Mile Markers 41–66
The Middle Keys recorded 27 residential sales, compared to 33 during the same period last year, an 18% decrease.
Despite fewer completed transactions, the average residential sale price increased 51% to $1,525,017. The median sale price also rose significantly, reaching $1,100,000 compared to $729,000 in October 2025.
Active residential inventory declined 9%, with 335 properties available compared to 370 a year earlier.
The Local Perspective: The Middle Keys experienced one of the most notable pricing shifts in this month's report. While fewer homes sold, both average and median sale prices increased substantially. In communities such as Marathon, Key Colony Beach, and Duck Key, the mix of properties sold can significantly influence monthly statistics, particularly when higher-priced waterfront properties are involved. These figures highlight the importance of evaluating individual properties rather than relying solely on regional averages.
Upper Keys | Mile Markers 67–127
The Upper Keys recorded 50 residential sales, compared to 38 during the same period in 2025, representing a 31% increase.
The average residential sale price was $2,067,540, down 3% year over year, while the median sale price increased 17% to $1,225,000.
Active inventory declined 17%, from 584 to 484 listings, while new listings decreased 15%.
The Local Perspective: The Upper Keys stood out for its increase in completed sales despite fewer available properties. Key Largo, Plantation Key, and the Islamorada area experienced varying levels of activity, demonstrating how individual communities can influence broader regional trends. The combination of increased sales and reduced inventory makes understanding recent comparable transactions particularly important for buyers and sellers throughout the Upper Keys.
What Do These Market Trends Mean for Buyers and Sellers?
While the Keys-wide numbers provide a useful overview, the October report reinforces an important point: there is no single Florida Keys real estate market.
Each island and neighborhood has its own inventory, pricing patterns, and buyer demand.
For buyers, understanding current inventory, recent sales, and property-specific market conditions can help identify opportunities and support informed purchasing decisions.
For sellers, thoughtful pricing, professional marketing, and an understanding of local competition remain essential when positioning a property for sale.
Changes in average and median sale prices do not necessarily reflect equivalent changes in individual property values. The types, locations, and price ranges of homes sold can have a significant impact on monthly market statistics.
Your Local Market. Our Expertise.
At Berkshire Hathaway HomeServices Keys Real Estate | Knight & Gardner Realty, our Forever Agents combine local knowledge with the resources of a globally recognized real estate network.
With four offices serving the Florida Keys, our team understands that buying or selling a home in Key West can be a very different experience from buying or selling in Marathon, Islamorada, or Key Largo.
Whether you're curious about your home's current value, exploring a new neighborhood, or preparing for your next move, we're here to provide the insight, guidance, and representation you deserve.
Visit KeysRealEstate.com to connect with a local real estate professional and explore homes throughout the Florida Keys.
Market Data & Disclaimer
Berkshire Hathaway HomeServices Keys Real Estate | Knight & Gardner Realty Monthly Keys-Wide (MM 0–127) Market Report. Data obtained via FlexMLS. Property Type: Residential | October 1–30, 2026 vs. October 1–30, 2025.
Information is deemed reliable but not guaranteed. Market statistics reflect reported MLS activity and may be subject to change. Individual property values and market conditions may vary by location, property type, and other factors.
