Data Analysis
Monroe County had 471 homes for sale under $1 million on November 9, 2026, not counting mobile homes, with 60 in a contract, a pace of 7.8 listings per contract that was barely faster than the 8.2 above $1 million.
Our Keys MLS feed showed 471 homes under $1 million active and 60 in contract on November 9, 2026. Condos ran 21.1 listings per contract.
On November 9, 2026, our live Florida Keys MLS map showed 471 homes for sale under $1 million in Monroe County, not counting mobile and manufactured homes, with 60 in a contract, about 7.8 listings per contract. Homes at $1 million and above ran at 8.2 (637 active, 78 in contract), so the lower tier was only slightly faster. Under $1 million, single-family houses ran at 6.3, townhomes at 4.9 and condos at 21.1. The Lower Keys and the Key West area ran near 5.4, against 15.1 in the Upper Keys. In the two weeks to November 8, this tier logged 23 new contracts, the same as the two weeks before. All figures are ours, computed from Florida Keys MLS records; information is deemed reliable but not guaranteed.
Under $1 million made up 42 percent of the 1,108 active Keys homes in this count, and the median active home in the tier asked $725,000. Our November 3 article on Florida Keys mobile homes covers the manufactured segment that dominates prices under $500,000, and our October 28 article on Keys condos under contract covers the condo market in depth. Completed-month prices are in our Florida Keys median price article, and the full series is on the Florida Keys market data hub.
How fast are Keys homes under $1 million going into contract?
| Homes, Nov 9 | Under $1M active | Under $1M in contract | Listings per contract | $1M+ listings per contract |
|---|---|---|---|---|
| Single-family houses | 222 | 35 | 6.3 | 7.8 |
| Townhomes | 59 | 12 | 4.9 | 9.2 |
| Condos | 148 | 7 | 21.1 | 10.3 |
| Duplexes and other | 42 | 6 | 7.0 | 11.4 |
| All, excluding mobile homes | 471 | 60 | 7.8 | 8.2 |
Source: Momentum Research, computed from Florida Keys MLS records, Monroe County, live map snapshot November 9, 2026. "In contract" counts listings marked under contract or pending. Deemed reliable but not guaranteed.
Single-family houses and townhomes under $1 million moved faster than the same property types above it. Condos were the exception: 148 condos under $1 million were active against 7 in contract, twice the ratio of condos priced higher. The median active condo under $1 million asked $625,000 and had been listed 114 days.
Which price ranges under $1 million are moving?
| Price band, Nov 9 | Active | In contract | Listings per contract | Median ask |
|---|---|---|---|---|
| Under $500,000 | 58 | 7 | 8.3 | $429,450 |
| $500,000 to $749,999 | 212 | 25 | 8.5 | $649,450 |
| $750,000 to $999,999 | 201 | 28 | 7.2 | $875,000 |
Source: Momentum Research, computed from Florida Keys MLS records, November 9, 2026, excluding mobile and manufactured homes. Deemed reliable but not guaranteed.
The $750,000 to $999,999 band was the quickest at 7.2. Only 9 single-family houses under $500,000 were active, and none was in contract; the lowest asked $249,900 for a two-bedroom house in Key Largo. Among active houses under $1 million, 114 had three bedrooms and 74 had two.
Where in the Keys are homes under $1 million selling?
| Area or key | Active | In contract | Listings per contract | Median ask |
|---|---|---|---|---|
| Key West | 98 | 15 | 6.5 | $793,500 |
| Key Largo | 110 | 8 | 13.8 | $710,500 |
| Marathon | 75 | 9 | 8.3 | $649,000 |
| Big Pine Key | 45 | 5 | 9.0 | $749,900 |
| Key Colony | 30 | 4 | 7.5 | $844,000 |
| Plantation Key | 28 | 2 | 14.0 | $617,450 |
| Duck Key | 21 | 0 | none | $675,000 |
| Big Coppitt | 9 | 4 | 2.2 | $779,000 |
| Stock Island | 8 | 5 | 1.6 | $792,000 |
Source: Momentum Research, computed from Florida Keys MLS records, November 9, 2026, by the island or city name on the listing, excluding mobile and manufactured homes. Deemed reliable but not guaranteed.
Grouped by region, the Upper Keys (Key Largo through Islamorada) had 151 active and 10 in contract, 15.1 listings per contract. The Middle Keys ran at 9.0, the Lower Keys at 5.5 and the Key West area, including Stock Island, at 5.3. Above $1 million the Upper Keys ran at 9.1, so the gap between regions was widest in the lower tier. Key Largo had 71 active single-family houses under $1 million and 4 in contract. Stock Island and Big Coppitt were small but quick, with 9 contracts on 17 active listings between them.
What changed in the last two weeks?
| Under $1M, excluding mobile homes | Oct 12 to 25 | Oct 26 to Nov 8 |
|---|---|---|
| New listings | 53 | 46 |
| New contracts | 23 | 23 |
| Price cuts | 59 | 57 |
| Median cut | 3.64% | 3.23% |
| Back on market | 7 | 4 |
Source: Momentum Research, computed from the Florida Keys MLS listing change log, October 12 to November 8, 2026. Each listing is counted once per category per window. Deemed reliable but not guaranteed.
Contracts held steady under $1 million while new listings eased. Above $1 million, new listings fell from 83 to 68 and contracts from 25 to 21, while the median cut deepened from 3.76 percent to 4.26 percent. For single-family houses under $1 million, new listings dropped from 33 to 21 and contracts stayed at 15 in each window.
How long have these listings been on the market?
The median active home under $1 million had been listed 102 days, against 96 days above $1 million. In the lower tier, 122 of the 471 active listings (26 percent) had been on the market 180 days or more, compared with 187 of 637 (29 percent) at $1 million and above. Townhomes under $1 million had the longest median at 119 days even though they had the fastest contract pace, which points to a split between new listings that sell quickly and older ones that sit.
What does this mean for buyers and sellers?
For buyers, the sub-$1 million tier is not crowded with competing offers. With 7.8 listings per contract overall and 21 per contract for condos, there is room to negotiate, especially on listings past 180 days. Budget for carrying costs before you offer: property taxes are on our Monroe County property tax page, and ZIP-level homeowners insurance figures are on our Key West, Key Largo, Marathon and Big Pine Key pages. Our October 27 article on the Citizens flood requirement explains a policy change that affects many Keys owners.
For sellers, pricing within the $750,000 to $999,999 band and in the Lower Keys or Key West area lined up with the quicker pace. Upper Keys sellers under $1 million faced about 14 to 15 competing listings for each contract.
People also ask
How many homes under $1 million are for sale in the Florida Keys?
On November 9, 2026, our live map showed 471 active homes under $1 million in Monroe County, not counting mobile and manufactured homes, with 60 more in a contract. The median active one asked $725,000.
What is the cheapest part of the Keys to buy a house?
Among active houses, townhomes and condos under $1 million on November 9, 2026, Marathon had a median ask of $649,000 and Plantation Key $617,450, against $793,500 in Key West. Prices vary widely by property type and waterfront access.
Are Keys condos under $1 million selling?
Slowly. On November 9, 2026, 148 condos under $1 million were active and 7 were in contract, 21.1 listings per contract, against 6.3 for single-family houses in the same price range.
Limitations
The live map counts listings by the island or city name on the listing and can differ from monthly inventory figures in our Market Pulse. Mobile and manufactured homes and land are excluded throughout; "duplexes and other" includes duplexes, half duplexes, multi-unit and fractional listings. Two-week counts come from our feed's change log, which records a change when our refresh sees it, and are grouped by the listing's current price. Region groupings are ours. Small counts in single keys move the ratios, and contracts can fall through.
Sources
- Momentum Research, computed from Florida Keys MLS records, Monroe County (live map snapshot November 9, 2026; listing change log October 12 to November 8, 2026). Information is deemed reliable but is not guaranteed by the MLS to be accurate.
- Momentum Research, Florida Keys Market Pulse.
- Full monthly series and per-feed attribution: Florida Keys market data
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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