Ep. 6 The Coconut Wire - What's Hot Marathon Homes Florida Keys May 15, 2026

Title: Florida Keys Real Estate Market Action – May 2026
Host: Margie Casey of Florida Keys Real Estate Group

Episode Segments

• Events happening in our area - Annual Schooner Wharf Bar Minimal Regatta Memorial Day Weekend (00:43)

Marathon Real Estate Market Analysis

• Number of homes that closed last week vs week before  (02:05)
• Number of homes that went under contract this week vs week before  (02:15)
• Number of days on market, this week versus last week  vs week before  (2:25)
• Price reductions this week (02:41)
• Number of expired listings indicator (02:50)
• Total number of homes for sale in the Middle Keys vs week before (02:59)
• Number of new listings in the Middle Keys vs week before (03:09)
• Overall Market Opinion (03:17)

Deal of the Week

• Duck Key home (03:28)
• Reasons to buy this asset (04:00)
• Rental Income History (04:07)
• Operating Costs (04:26)
• Special Benefits (05:42)
• Closing final thoughts (07:31)

Contact 

Margie Casey | The Brenner Scheel & Casey Team
305-783-3395
flakeysrealestategroup@gmail.com

Transcript

SPEAKER_00 0:00

Hi there, welcome to the Coconut Wire, your weekly Middle Keys Real Estate Market update. I'm your host, Margie Casey of the Brenner Shale and Casey team, your real estate experts right here in the Florida Keys. We've got a great show for you today. We'll share a quick glimpse of Memorial Day weekend fund in Key West, then we're going to break down what happened over the last seven days in the Middle Keys real estate market, and then I've got a deal of the week for you at Hawks K Resort on Duck Key that you don't want to miss. Let's dive in. Memorial Day weekend is right around the corner, and it's the time of the year when long weekends get into gear and the summer fun begins. One of the most entertaining events happening next weekend is the annual Schooner Wharf Minimal Regatta down in Key West. This wacky regatta takes place right off of the Schooner Wharf Bar on William Street in the Key West historic seaport. Here's the scoop. Teams are challenged to keep their homemade watercraft afloat long enough to complete a short course. That's it. That's the rule. And the creativity that these people bring, wow, incredible. Past entries have included alligators and spaceships, guitars, wine bottles, and even full replicas of schooners, shrimp boats, pirate vessels, and even paddle boats. And the costumes. We're talking about the crew of Gilligan's Island, the Adams family, Spock and Star Trek, Batman and the Joker, Barbie in her dream house, the banana splints, the red hot chili peppers, and even Popeye made the regatta one year. Bring your camera, bring your sense of humor, and be ready for a boatload of laughs. Pun absolutely intended. That's happening next Sunday, May 24th, just south of us, about an hour in Key West. Now let's dig into what happened in the last seven days in the Middle Keys real estate market. Homes closed. We saw an average of six closings over the past six weeks. It's solid and consistent week over week. Homes under contract. This number came in much lower than the five-week trend. Something we're going to watch. The next category is average days on market. For closed homes, this past week was much lower than the prior five weeks, and that's actually a good sign. It tells us that homes coming on the market are priced right and they're selling quicker. Sellers and their agents are getting it right. Price reductions, about half of the prior five-week trend. Fewer sellers are having to cut their prices to get the deal done. Again, good news. Expired. That trend remains steady right around five each week. Nothing unusual there. Homes for sale, those that are active, contingent and pending, is slightly higher than the past three weeks. So there's a little bit more inventory out there for buyers. And new listings, slightly higher than the prior weeks as well. So there's some fresh properties hitting the market, giving buyers more choices. Overall, the market is active. Homes that are priced correctly are moving fast, and we're seeing a healthy but watchful environment heading into the summer season. It's time for our deal of the week, and this week's deal is at one of the most special addresses in all of the Florida Keys on Duck Key. We're talking about Hawks K Resort, a townhome with open water views, two bedroom, two baths. This townhome is also actively in the resort's vacation rental program. As of today, it is the best price unit at the resort not currently under contract, and it's listed at $599,000. Let me walk you through why this makes sense as an asset to add to your portfolio. In 2024, this home rented for 139 nights and generated $36,000 in net owner rental income. In 2025, it rented for 140 nights, a little better occupancy, and it generated $35,000, which is slightly less, but it's consistent and predictable. Now let's talk about annual expenses on a cash purchase like this. Flood insurance runs approximately $2,000 to $5,000 a year. Why the difference? Because some units that you buy have an assumable policy which keeps the premium lower on the lower end of the price range. Homeowners' insurance ranges from $1,500 to $2,500 depending on coverages. And wind insurance estimates range from $1,500 to $4,500 a year. The difference is related to whether the home has the maximum insurance credits for things such as impact glass and doors. So the total insurance on a townhome like this falls somewhere between $5,000 and $12,000 per year. Real estate taxes on a new purchase would run approximately 1% of the purchase price, or around about $5,000 on this property. Repairs and rate maintenance reserves we estimated at $1,500 per year. So when you run the numbers on a cash purchase with no mortgage, you're looking at a net annual cash flow on a townhome like this of about $20,000. That's real money back to you every year, but it gets better. What makes owning a townhome in the Hawks K Rental Program special is that it's not just an investment, it's a place where you can actually be and use it yourself. Owners in the resort rental program get 70 days of personal usage throughout the year. That can be at one night at a time. According to the rental history, over the past two years, this unit rents for approximately $500 a night. So not only are you saving $35,000 per year in nightly hotel rates, but you when you use it yourself, that is, you're generating $20,000 in annual income on top of that. So if you love spending time in the Florida Keys, this is a very appealing way to do it. The resort amenities are incredible. They have three stunning pools, a private beach lagoon, outstanding tennis and fitness facilities, and a Coral Case children's water park. It has a world-class marina, deep water, and there's delicious restaurants all within walking distance of Sunset Village, where this townhome is located. On the island, you can rent a boat, kayaks paddle boards, or charter one of the award-winning captains to go offshore or in the backcountry for sports fishing. The resort offers year-round fun and outdoor adventures. Duck Key is perfectly positioned between Isla Marata and Marathon, just before the Seven Mile Bridge. You're literally in the heart of the Florida Keys. We would love for you to come down to the island and experience this resort for yourself. While you're here, we could show you 5037 Sunset Village or any other townhome that's available at that time. Call or text me directly at 305-783-3395 and ask for me, Margie Casey. Don't miss this deal of the week. That is your mile marker 47 to 68 market snapshot for the week of May 8th to 15th. We'll keep tracking these numbers for you every single week to let you know what's happening in the Middle Keys real estate market. Let me know in the comments or direct message me. Are you buying? Are you selling? Are you just watching the market? I'd love to hear what you're seeing out there. Thank you so much for listening. We'll catch you next week on the Coconut Wire, hosted by the Brenner Shale and Casey Team.