November Market Update: Is Key West Heating Up for the Season?

Hey! November is here, and if you’ve been around town, you’ve probably noticed things picking up more visitors, more golf carts, and yes, more real estate activity. Let’s break down what’s happening as snowbirds return and the season kicks into gear.

🏝️ Inventory: A Gentle Uptick

Listings are slowly increasing as seasonal homeowners return, but supply is still tight overall. The most desirable homes especially in Old Town and Casa Marina — continue to move quickly. You’ll find more options now than in summer, but it’s still very much a seller’s market for move-in-ready properties.

💰 Pricing: Steady but Strategic

Average home values hover around $1M, with slight softening in some condo and New Town segments. Sellers who price smartly and present their homes well are still landing strong offers. Overpriced or outdated listings? They’re sitting longer.

🚤 Buyer Activity: Snowbirds + Investors

November brings cash buyers, second-home shoppers, and investors eyeing rental-income potential. Many are motivated to secure a property before peak season, so well-priced homes are drawing attention fast.

🌴 What National Reports Miss

Key West is its own world. Short-term rental demand, flood insurance costs, and micro-neighborhood trends shape our market far more than national averages. A property’s exact location sometimes just a few blocks apart can make a big difference.

✨ Bottom Line

Yes, the Key West market is heating up slowly but surely. Inventory is creeping higher, buyers are back, and the best homes still sell fast. If you’re thinking about buying or selling this season, now’s the perfect time to make your move while the island energy is high and the competition hasn’t peaked.