The Florida Keys real estate market continues to evolve, and the latest residential sales statistics reveal an encouraging trend: home sales are increasing across much of the island chain, but market conditions vary significantly by location.
From Key West and the Lower Keys to Marathon, Islamorada, and Key Largo, understanding these differences is essential for buyers and sellers navigating today's market.
According to Florida Keys MLS residential statistics comparing November 9, 2025–November 9, 2026, with the preceding 12-month period, sales activity increased in the Lower, Middle, and Upper Keys, while Key West remained relatively stable.
So, what do these numbers tell us about the current Florida Keys real estate market?
Florida Keys Residential Real Estate: A Regional Snapshot
The latest MLS statistics highlight how differently each region is performing.
Region | Closed Sales | Total Sales Volume | Median Sale Price |
|---|---|---|---|
Key West | 411 | $625.0 million | $1,125,000 |
Lower Keys | 367 | $430.3 million | $930,000 |
Middle Keys | 383 | $542.1 million | $1,000,000 |
Upper Keys | 627 | $942.4 million | $920,000 |
Source: Florida Keys MLS residential market statistics, rolling 12-month period ending November 9, 2026. Figures are rounded.
While transaction activity increased across three of the four regions, changes in median sale prices were not uniform. This reinforces an important point: there is no single real estate trend that accurately describes every community in the Florida Keys.
Upper Keys: Stronger Sales Activity
The Upper Keys experienced the largest increase in residential sales activity among the four regions.
Closed sales increased approximately 23%, from 510 to 627 transactions, while total sales volume rose approximately 31%.
Despite the increase in activity, the regional median sale price remained relatively stable at approximately $920,000.
For buyers and sellers in Key Largo, Tavernier, Islamorada, and surrounding Upper Keys communities, these statistics suggest a market with more completed transactions, but not necessarily widespread increases in property values.
Individual property characteristics, pricing, and local inventory remain important considerations.
Middle Keys: Sales and Median Prices Move Higher
The Middle Keys, including Marathon, Key Colony Beach, and Duck Key, also experienced increased residential sales activity.
Closed sales rose approximately 11%, reaching 383 transactions, while total sales volume increased approximately 24%.
The regional median sale price reached $1 million, an increase of approximately 11% from the previous period.
Key Colony Beach was particularly noteworthy, with its median sale price increasing from $760,000 to $1,232,000.
However, changes in median prices can reflect differences in the types, locations, and price ranges of properties sold. They should not be interpreted as an equivalent increase in the value of every home.
For buyers and sellers, understanding these distinctions is an important part of evaluating the Middle Keys market.
Lower Keys: Higher Median Prices and Increased Sales
The Lower Keys recorded 367 residential sales, an increase of approximately 8% compared with the preceding 12 months.
Total sales volume increased approximately 21%, while the regional median sale price rose approximately 14% to $930,000.
Big Pine Key provides an interesting example of how local market conditions can differ from regional trends.
The community recorded 113 closed sales compared with 116 during the previous period, while its median sale price increased from $689,000 to $800,000.
This illustrates why buyers and sellers should look beyond the number of transactions when evaluating property values.
In communities such as Big Pine Key, Little Torch Key, Ramrod Key, Summerland Key, and Cudjoe Key, factors including waterfront access, property condition, and location can create significant differences between individual properties.
Key West: A Relatively Stable Number of Sales
Key West recorded 411 residential sales, essentially unchanged from the preceding 12-month period.
However, total residential sales volume increased approximately 6%, reaching $625 million.
The median sale price was approximately $1,125,000, reflecting a modest increase from the previous period.
Key West continues to offer a diverse mix of residential real estate, from historic Old Town homes and condominiums to waterfront properties and newer residences.
Because these property types serve different buyer needs and price ranges, neighborhood-level and property-specific analysis remains especially valuable.
Why Pricing Strategy Matters in Today's Market
Beyond the number of homes sold, the latest MLS statistics also provide insight into how properties perform based on their time on the market.
Across the Florida Keys, properties that sold within their first 30 days generally achieved a higher percentage of their original asking prices than properties that remained on the market for more than 120 days.
For example, in the Middle Keys:
- Properties selling within 30 days achieved an average of approximately 96% of their original list price.
- Properties spending 121 days or longer on the market achieved an average of approximately 85% of their original list price.
Similar patterns appeared in the Key West, Lower Keys, and Upper Keys reports.
While these figures do not mean that time on the market alone determines the final sale price, they highlight the importance of thoughtful initial pricing, property preparation, and a well-developed marketing strategy.
For sellers, the goal isn't simply to list a home. It's to position the property effectively based on its location, condition, features, and current market competition.
What Does This Mean for Florida Keys Buyers?
For buyers, increased sales activity can be a sign of an active market, but conditions vary considerably by community and property type.
Understanding recent comparable sales, available inventory, and how long properties have been listed can help buyers make informed decisions.
A waterfront home in Islamorada, a canalfront property in Marathon, and a historic residence in Key West may each require a different approach to evaluating value.
Local market knowledge remains essential when comparing opportunities throughout the Keys.
What Does This Mean for Florida Keys Sellers?
For homeowners considering selling, the latest statistics reinforce the importance of understanding the market surrounding their specific property.
A Keys-wide trend may provide useful context, but the most relevant comparisons often come from similar homes within the same community.
Pricing, presentation, property condition, and effective marketing can all influence buyer interest.
A comparative market analysis prepared by an experienced local real estate professional can help sellers understand recent sales, competing listings, and how their property fits into the current market.
Local Knowledge Makes the Difference
The November 2026 statistics tell a compelling story: residential sales activity has strengthened across much of the Florida Keys, but individual markets continue to perform differently.
Whether you're buying in Key Largo, selling in Islamorada, exploring waterfront homes in Marathon, or considering a move in Key West or the Lower Keys, understanding local trends can help you make more informed real estate decisions.
At Berkshire Hathaway HomeServices Keys Real Estate | Knight & Gardner Realty, our experienced real estate professionals combine local market knowledge with personalized service to help buyers and sellers navigate the unique real estate markets throughout the Florida Keys.
Thinking about buying or selling in the Florida Keys? Connect with our team to discover what the latest market trends mean for your real estate goals.
Market Data Disclaimer: Statistics are based on Florida Keys MLS residential property reports comparing the rolling 12-month period ending November 9, 2026, with the preceding 12 months. Data includes the Key West, Lower Keys, Middle Keys, and Upper Keys reporting areas. Figures are rounded where appropriate. Information is deemed reliable but is not guaranteed. Market conditions and individual property values vary. Berkshire Hathaway HomeServices Keys Real Estate | Knight & Gardner Realty.
