Florida Keys Market Update

Since Q1 2025, sales have rebounded slightly at mid-year compared to the same period in 2024. Average sale prices are still lower than last year but the rate of decline has slowed. Sellers, however, continue to accept larger discounts from asking prices, with wider gaps between list and sale prices and growing mid-listing reductions.

The key metric to watch is the number of listings (sellers). Historically, more sellers mean fewer buyers, and fewer sellers mean more buyers. For example, after Hurricane Wilma (2005), listings doubled in 120 days, buyers dropped, and prices crashed—years before the national subprime crisis. Conversely, during COVID (2020), listings fell, buyers surged, and prices soared.

In 2025, listings are rising gradually, buyer activity is flat, and prices are softening. Looking ahead to 2026, we expect listings to continue climbing while buyer demand and prices gradually ease.

If you are searching a beautiful home or ready to sell your property, login to www.SearchFloridaKeysHomes.com or call Lela Ashkarian at 305-395-0814.