Florida Keys Real Estate Market — February 2026 Quick Answer
The Florida Keys residential market is tightening. Pending inventory jumped 33% year-over-year in February 2026 while active inventory fell and new listings dropped 12%. In my view, buyers who wait for better conditions may find fewer homes to choose from and higher prices when they get there.
Contract activity surged across Monroe County while available inventory continued to shrink. February also saw mortgage rates briefly touch 3-year lows, giving buyers an additional push toward the contract table. That window has since tightened, which makes the timing of February's contract surge worth paying attention to.
Key Market Highlights — February 2026
- ▼ Active Inventory: 1,671 — down 3.7% from a year ago
- ▲ Pending Inventory: 272 — up 33% from a year ago
- ▼ Closed Sales: 135 — down 2.9% from a year ago
- ▼ New Listings: 285 — down 12% from a year ago
- ▲ New Pending Sales: 206 — up 27% from a year ago
- ▲ Median Sale Price: $909,500 — up 2.2% from a year ago
What the Numbers Are Telling Us
Pending sales have posted strong year-over-year gains for two consecutive months while new listings have not kept pace. Fewer homes entering the market while contracts rise means available inventory gets absorbed faster, leaving buyers with less selection and more competition for well-priced properties.
The median sale price of $909,500 is up 2.2% year-over-year. That is a modest gain, but directionally consistent with what a tightening market typically produces over time.
A Word to Buyers
Waiting for a meaningful rate drop while prices trend upward rarely works out in the buyer's favor. The better question is not whether rates will improve, it is whether the home you want will still be available, and at what price, when they do. In this market, well-priced homes move quickly.
If you are ready to explore what is available in the Florida Keys, I can help you identify the right fit. Browse current Florida Keys homes for sale or reach out directly, no pressure, just straight answers.
For more monthly market updates, visit the Florida Keys Real Estate Blog.
Florida Keys Real Estate — Frequently Asked Questions
What is the Florida Keys real estate market doing in early 2026?
The market is tightening. Active inventory is down 3.7% year-over-year while pending inventory has surged 33%. Buyer demand is outpacing supply, putting upward pressure on prices.
Is inventory increasing in the Florida Keys?
No. Active inventory fell to 1,671 homes in February 2026, down 3.7% from a year ago. New listings dropped 12% year-over-year, meaning fewer homes are entering the market while buyer demand continues to rise.
What is the median sale price in the Florida Keys in 2026?
The median sale price in Monroe County was $909,500 in February 2026, up 2.2% from a year ago. That gain is consistent with tightening inventory and two consecutive months of rising contract activity.
Is it a good time to buy a home in the Florida Keys?
In my view, waiting for rates to drop while prices trend upward is rarely a winning strategy. With inventory shrinking and contracts rising for two consecutive months, buyers who wait risk fewer choices and higher prices. The right time to buy is when you find the right home, not when the market feels comfortable.