Jim Signor - Florida Keys Real Estate

The Florida Keys residential market posted one of its strongest price gains of 2026 in May.

Median sale price climbed 12% year over year to $965,000, matching the gain we saw back in January. Active inventory stayed nearly flat at 1,626 homes, down just 0.8% from a year ago.

Closed sales were up 15% and new pending sales rose 9.1% year over year. Pending inventory climbed 22%, which suggests this momentum has room to continue through the summer.

It's a notable shift. Earlier this year, demand was running well ahead of price. May is the month price caught up.

Interesting data from the Monroe County Property Appraiser. Only 36.91% of eligible properties in the Keys carry a homestead exemption, which tells you a lot about how many owners here are investors, second-home buyers, or seasonal residents rather than full-time locals.

Questions about buying or owning in the Florida Keys? I'm happy to help. 🌴
305-394-4449 | keyslistings.com

Monroe County Homestead Data (as of June 1, 2026)

Recent figures for Monroe County show that out of 44,049 properties eligible for a homestead exemption, 16,259 currently have one, representing 36.91% overall.

Monroe County contains approximately 89,581 parcels, but only 44,049 properties are currently eligible for a homestead exemption, highlighting that many parcels are vacant land, commercial properties, government-owned properties, or otherwise ineligible for homestead status.

Breakdown by jurisdiction:

🐚Key West: 8,800 eligible | 3,517 with exemption (39.97%)
⚓Marathon: 5,023 eligible | 1,610 with exemption (32.05%)
🌴Key Colony Beach: 1,429 eligible | 261 with exemption (18.26%)
🦈Layton: 146 eligible | 51 with exemption (34.93%)
🎣Village of Islamorada: 5,259 eligible | 1,840 with exemption (34.99%)
🏝 Unincorporated Monroe: 23,392 eligible | 8,980 with exemption (38.39%)

These figures reflect differences in homestead exemption participation across the county’s municipalities and unincorporated areas.

Getting a listing on Zillow is easy - every agent does that. Getting featured on KeysListings.com is different. Serious Florida Keys buyers have searched there since 2003, and only one agent guarantees your listing a featured spot on the site.

The link below explains what a featured spot on KeysListings.com means for your sale and how to track your neighborhood market before you list.

The Florida Keys residential market stayed active in April. Closed sales are up 22% from a year ago, new pending sales climbed 21%, and active inventory is at its lowest point of 2026.
Fewer homes are coming to market while buyer demand holds strong. Full market report with all six metrics is linked below.

Part of Port Largo has a history most people don't know about.
Ocean Cay Drive, one of the neighborhood's prime oceanfront streets, was once a runway. Port Largo Airport operated from the late 1960s until 1985, a dredged-from-the-ocean-floor airstrip with commercial commuter service to Miami. When it closed, that land became some of the most valuable oceanfront real estate in Key Largo.

Today the neighborhood sits on the oceanside near Mile Marker 100. Most homes have canal access straight to the Atlantic. The African Queen is docked minutes away. John Pennekamp is in your backyard.

Full neighborhood guide in the comments.

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The Florida Keys residential market had a strong March. Closed sales jumped 31% year-over-year, pending inventory is up 18%, and new pending sales rose 19% - all while active inventory keeps contracting.

The median sale price reached $965,000, up 0.8% from a year ago. Buyers who are ready to move are working with more selection today than they may have by midsummer.

Full breakdown in the March 2026 market report - link in the first comment.

Most buyers who register on a home search site never update the saved search that gets created automatically. It is built from whatever page they were on at registration -- often the wrong price range, wrong property type, or covering far more of the Florida Keys than they actually care about.

In the Florida Keys, inventory is structurally limited and well-priced homes can go under contract in days. A noisy alert feed trains buyers to ignore their own alerts.

Five filters fix it: price range, property type, waterfront or non-waterfront, specific area, and minimum bedrooms. Under ten minutes to set up.

Read more: link in comments

Price just dropped $25,000. 708 N Lake Drive in Twin Lakes is now $625,000. At just $488 per square foot, this is the lowest price per square foot home among active 2-bedroom homes in Key Largo priced between $575,000 and $675,000.

Imagine finishing the work week, walking across the street to launch your boat, and spending the afternoon on Blackwater Sound. The canal nearby draws manatees regularly = click through to the listing photos and see for yourself. Waterfront restaurants, tiki bars, cold drinks, warm water. Adams Waterway puts the Atlantic within easy reach. Florida Bay is right there. This is the version of Keys life people move down here for, and this home puts you in the middle of it.

The home is 2 bedrooms, 2 baths, 1,280 square feet (larger than most active listings in this price range) with vaulted wood ceilings, wood floors, and a metal roof. Elevated stilt construction with covered storage below.

Buy it, improve it, make it yours. You get the water access without the waterfront price tag. The lowest price per square foot in the group leaves room to make the home everything else you want it to be.

👉 Full details and pics in the comments