Takeaways
- Buyer window: inventory is higher than fall 2025; well-priced non-waterfront moving in under 45 days.
- Seller takeaway: pricing discipline matters — properties that launched above comps are sitting past 90 days.
- Lower Keys canal inventory is specifically thin; correctly-priced Ramrod / Cudjoe / Big Pine moving fast.
Commentary
March was steadier than February. Inventory recovered modestly as late-winter sellers tested the market, but days on market compressed — indicating the buyer pool is actually transacting rather than window-shopping.
Waterfront continues to command roughly a 40–45% premium over comparable non-waterfront inventory, consistent with the 24-month trailing average. Canal-front specifically is where pricing discipline matters most; deepwater continues to stretch further than protected canal or bay-side.
The Middle Keys (Marathon / Key Colony Beach / Duck Key) moved faster than the chain as a whole, driven by primary-residence and well-positioned VR-permitted inventory. Upper Keys remained the least volatile, Lower Keys the most supply-constrained.