Florida Keys Housing Market

What’s going on with ROGO in the Keys?

Check out the Survey Results and Staff Presentation

Keys Real Estate Market Stats –

October 2023 vs. October 2024

Number of Sales:

The number of sales across the Keys has dropped compared to last year. Year-to-date, Upper Keys sales are down 6.2%, Middle Keys by 5.3%, and Lower Keys by 10.3%. Key West, however, showed some stability with a slight increase of 2.0%

Average Sale Price:

Good news for sellers—average sale prices are up 5% Keys-wide, now at $1,175,863.

Sale Price to Original List Price:

Sellers and buyers continue to hold steady here, with buyers getting around a 10% discount and sellers achieving roughly 90% of the original list price.

Average Price Reduction:

Sellers are adjusting their prices, with an average reduction of 4.4% Keys-wide. The Upper Keys had the largest reductions at 5.2%, while Lower Keys saw the smallest cuts at 3.5%.

Days on Market:

Properties are spending more time on the market, averaging 88 days, up from 79 last year.

Number of Listings:

Inventory is up by 21% Keys-wide, with the Upper Keys seeing the largest rise at 36.1%. More options for buyers are becoming available as we head into high season.

Average List Price:

The average list price has risen 2.8%, reaching $1,648,483 Keys-wide.

Pending Transactions:

Pending sales are down 4.7% across the Keys. Upper Keys experienced the largest drop at 29.2%, while Middle Keys saw a 26.5% increase in pending transactions.

With more inventory and adjusted prices, there are great opportunities for both buyers and sellers in the Keys this season. If you have any questions or are ready to jump into the market, let’s talk!