Single-Family vs. Condo: Islamorada's Two Different Markets
When I compare homes across Islamorada, from single-family properties tucked along the islands to condo and townhouse units closer to the water, the market tells two very different stories this month.
July 2026 Takeaway: Islamorada condo/townhouse closed sales more than doubled year-over-year while single-family closed sales fell, but both segments are working with small monthly volume, so the percentage swings are sharper than the underlying activity.
Islamorada Single-Family Homes: Fewer Closings, Higher Pending Activity
| Metric | Value | YoY Change |
|---|---|---|
| Active Inventory | 125 | ↓ -14% |
| Pending Inventory | 21 | ↑ +24% |
| Closed Sales | 9 | ↓ -31% |
| New Listings | 17 | ↓ -41% |
| New Pending Sales | 15 | No change |
| Median Sale Price | $1,481,539 | ↓ -18% |
What I'm seeing on the ground: single-family closed sales in Islamorada dropped to just 9 for the month, a low enough count that the -31% year-over-year figure shouldn't be read as a firm trend on its own. Pending inventory is up, though, which suggests more contracts are working their way toward closing in the months ahead.
Islamorada Condos & Townhouses: Sharp Gains on Low Volume
Islamorada's condo/townhouse segment also closed on a small base this month, 11 sales. On a sample that size, the +120% year-over-year increase in closed sales reflects low baseline volume more than an established market shift.
| Metric | Value | YoY Change |
|---|---|---|
| Active Inventory | 49 | ↓ -13% |
| Pending Inventory | 8 | ↑ +167% |
| Closed Sales | 11 | ↑ +120% |
| New Listings | 7 | ↑ +75% |
| New Pending Sales | 7 | ↑ +250% |
| Median Sale Price | $670,000 | ↑ +11% |
Single-Family vs. Condo: What the Contrast Tells Us
For buyers weighing the two segments in Islamorada, the price gap is the widest we've covered in this series, a median difference of $811,539 between single-family and condo/townhouse. Single-family carries far more active inventory (125 vs. 49) and remains the dominant segment by size, but its closed sales count fell this month while condo closings rose. Both counts are small enough, 9 and 11 respectively, that a swing of just a couple of transactions moves the year-over-year percentage significantly. The bigger signal may be pending activity: condo pending inventory jumped 167% and single-family pending inventory rose 24%, both pointing to more deals in the pipeline than the closed-sales numbers alone suggest.
Want the county-wide picture? Read my latest Florida Keys Market Report.
Frequently Asked Questions About the Islamorada Real Estate Market
Is single-family or condo activity stronger in Islamorada right now?
Single-family homes carry far more active inventory in Islamorada, but the condo/townhouse segment posted a much larger year-over-year jump in closed sales in July 2026, though both segments are working with small monthly sample sizes.
Why did Islamorada condo sales rise 120% while single-family sales fell 31%?
Both Islamorada segments closed on low volume in July 2026, 11 condo sales and 9 single-family sales. On sample sizes that small, a swing of just a few closings creates a large percentage change that reflects low baseline volume rather than a broad market shift.
How much less do condos cost than single-family homes in Islamorada?
In July 2026, the median sale price for Islamorada condos and townhouses was $670,000, compared to $1,481,539 for single-family homes, a difference of $811,539.
What islands make up the Islamorada real estate market?
Islamorada, officially known as the Village of Islands, spans several primary keys including Plantation Key, Windley Key, Upper Matecumbe Key, and Lower Matecumbe Key. Residential single-family homes and condos in this report reflect sales across these incorporated islands.