Florida Keys Inventory Surges as October Sales Hold Steady

October's market report has two very different numbers sitting side by side. Residential closings across the Florida Keys MLS were almost exactly the same as a year ago. The number of homes available to buy was not even close.

I pulled two FlexMLS reports on November 2: one comparing October 2026 with October 2025, and one comparing the rolling 12 months ending November 1, 2026 with the 12 months before that. Together they say a lot about where the market is heading into the season.

Across all residential property types in the MLS, here is how October compared with a year ago:

• Active listings: 1,268, up from 730 (about +74%)
• New listings: 287, up from 191 (about +50%)
• Residential closings: 138, versus 137 (essentially flat)
• Closed-sale volume: $216,778,996, up from $197,971,000 (about +9.5%)
• Average sale price: $1,570,862, up from $1,445,044 (about +8.7%)
• Sale-to-list percentage: 94% in both years

The sale-to-list number is the quiet one worth noticing. Homes that sold in October closed, on average, at about 94% of their list price, the same as last October. Buyers have more options, but the homes that are selling are not selling at a dramatically deeper discount.

Average, not median. The figure here is the average sale price, which can be pulled up by a few high-end sales. It tells you what sold in October. It does not mean every home in the Keys gained 8.7% in value.

2026 ran well ahead of 2025 in the spring, most noticeably in March (214 closings against 164). August was the one month that came in below last year. September moved back ahead, and October finished level.

Two things jump out. First, sales were spread differently this October: Key West closed 23 residential sales against 28 a year ago, while Cudjoe Key closed 12 against 8. Second, inventory rose in every one of these areas, most dramatically on Big Pine Key (from 36 active listings to 80) and in Key Colony Beach (from 26 to 58).

A note of caution: these are single-month counts, and some are very small. Sugarloaf Key going from one sale to two is technically a 100% increase, and it means almost nothing on its own. The island numbers are most useful as a picture of where activity and inventory are, not as a forecast.

A single month can be noisy, so I also compared the 12 months ending November 1, 2026 with the 12 months before that.

Over the past year, the Keys recorded about 11% more residential closings, about 24% more closed-sale volume and an average sale price about 11% higher. New listings grew faster than closings, up about 28%. That is the same pattern October shows in miniature: demand has held up, and supply has grown faster.

For buyers: More listings mean more time to compare, more room to ask questions and, in many cases, more room to negotiate. Insurance, flood zone and building-rights questions still need to be answered before you commit, so use the extra breathing room for due diligence.

For sellers: You are competing with far more listings than sellers were a year ago. If you're thinking about selling, start with a realistic look at what has actually sold nearby, and read my take on pricing in a higher-inventory market. If you want a starting point, request a home valuation.

For owners who aren't moving: The average price data is encouraging, but it reflects the mix of homes that sold. Your property's value still comes down to your island, your street and your home.

Explore the areas in this report: Key West · Big Pine Key · Cudjoe Key · Sugarloaf Key · Summerland Key · Marathon

Part of The Local Edit | Florida Keys Real Estate This Week

FAQ

How many residential listings were active in the Florida Keys in October 2026?
According to FlexMLS, 1,268 residential listings were active across the entire MLS in October 2026, up about 74% from 730 in October 2025.

How many homes sold in the Florida Keys in October 2026?
138 residential sales closed across the MLS in October 2026, compared with 137 in October 2025. Closed-sale volume was $216,778,996.

What was the average home sale price in the Florida Keys in October 2026?
The average residential sale price was $1,570,862, up about 8.7% from $1,445,044 in October 2025. This is an average, not a median, and reflects the mix of properties that sold.

How many homes sold in the Florida Keys over the past year?
For the rolling 12 months ending November 1, 2026, the MLS recorded 1,907 residential closings, up from 1,713 in the previous 12 months.

Sources

• FlexMLS Year Over Year Comparison: residential (Active, Closed), entire MLS, October 1 – November 1, 2026 vs. October 1 – November 1, 2025
• FlexMLS Year Over Year Comparison: residential (Active, Closed), entire MLS, November 1, 2025 – November 1, 2026 vs. November 1, 2024 – November 1, 2025
• FlexMLS monthly residential closings, January–October 2025 and 2026

Source: FlexMLS / MLS data. Reports prepared by Kate Baldwin on November 2, 2026. Information is deemed reliable but not guaranteed.

Want the numbers for your island?

I'm happy to pull the comparable sales for your area or your search. Call or text 305.240.7828, or ask me anything.

General information only, not legal, tax, insurance or financial advice. Market data is from the sources listed and covers the periods stated.