Ep. 7 The Coconut Wire - What's Hot Marathon Homes Florida Keys May 29, 2026

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

Episode Segments

Marathon Real Estate Market Analysis

• Number of homes that closed last week vs week before (00:51)
• Number of homes that went under contract this week vs week before (01:26)
• Total number of homes for sale in the Middle Keys vs week before (01:44)
• Number of new listings in the Middle Keys vs week before (02:08)
• Number of days on market, this week versus last week  vs week before (02:20) 
• Price reductions this week (02:45)  
• Overall Market Opinion  (03:01)
• Off-market properties (03:24)

Neighborhood of the Week

• Sombrero Beach (03:35)
• What to Expect (04:14)
• Sombrero Beach Park (04:37)
• Home styles/prices (05:55)
• Sunrise Island/Tingler Island (06:29)
• Questions (07:12)
• Closing (07:41)

Contact 

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

Transcript

SPEAKER_00 0:00

Welcome back to the Coconut Wire. I'm Margie Casey of the Brenner Shale and Casey team of Florida Keys Real Estate Group. And if you're new here, welcome. This is your weekly pulse on the Middle Keys Real Estate Market, mile marker 47 through 68. The part of the keys where the water is everywhere and the pace is just right. I took a little reprieve last weekend over the holiday weekend, so I'm coming back to you with two weeks of data. And I have to tell you, the numbers are telling a really interesting story. We're going to get into all of it, but first let's talk about seven weeks of data. And the headline is this the market is picking up speed. Let me walk you through the numbers. Because when you see the arc of this thing, it's genuinely exciting. In the middle of April, we were closing five to six homes a week, steady but quiet. Then something shifted. The week of May 22nd, 18 closings. The week of May 29, 21 closings. That's 21 homes closed in a single week in the Middle Keys. The average over this entire seven-week stretch was nine and a half closings a week. But the last four weeks alone averaged 12.5 versus 6.5 in the first four weeks. So that's nearly double. That is not noise. This is a trend. Under contract is your pipeline. The deal is coming down the road that stayed relatively stable throughout the period. We're hovering in that 30 to 40 range consistently. That tells me that the buyer demand is intact. It's been there all along. The inventory is the total number of homes for sale, active contingent, or pending. It has been drifting downward. We started at 400, touched a low of 353 in May 22nd, and now we're sitting around 377. Supply is modestly tightening, not dramatically, but the direction is clear. Less homes to choose from. New listings are actually increasing. We went from five new listings a week in early April to 18 new homes on the market in the final week of May. Sellers are coming off the sidelines and the market is absorbing them. Days on market's been the wild card for this stretch. We had a spike all the way to 242 days in early May. Then that was a batch of stale overpriced listings finally clearing the deck. Then it dropped sharply to 442 days the following week. And over the last few weeks, it's stabilized around 75 to 81 days, which is kind of normal. Homes are moving slightly faster than our normal trend. Price reductions have been declining down to four to eight a week compared to higher levels in the spring. Sellers are coming in better priced, and fewer corrections means listings have fewer headaches for everyone. So what does all this add up to? It's a healthy market with real momentum heading into the summer. Rising closings, stable buyer demand, tightening supply, faster sales, and fewer price cuts. If you've been on the hunt and you can't find what you're looking for, I want to hear from you. Because what you see on the MLS and on Zillow is not everything. We have a portfolio of off-market properties that might match your wish list perfectly. Call or text me anytime at 305-783-3395. Now let's shift gears because I love taking you inside a neighborhood. This neighborhood in the Middle Keys is very special. And the one we're talking about is one of my favorites, Sombrero Beach. If you know Marathon, you know this name. And if you don't know it, you're about to. Sombrero Beach is on the Atlantic side of Marathon, right around mile marker 50. You turn south off of US 1 onto Sombrero Beach Road, and the road takes you past some stilted homes, Marathon High School, and leads you to the beach park at the very end of the street. It's one of those roads where you just exhale a little bit as you drive along. The neighborhood itself is quiet. It's a friendly mix of full-time locals, second homeowners, and vacation rentals. Homes are on stilts, they're common, waterfront homes are common, and it's been described as a cozy backyard playground for islanders. And honestly, it's exactly right. It's not overly touristy and it doesn't try to be. It just is. And then there's the beach, Sombrero Beach Park. Marathon's premier public beach and genuinely one of the best in the entire Keys chain. A wide stretch of soft white coral sand, which if you know the keys, you know is rare. Clear turquoise water, picnic pavilions, grills, volleyball courts, a playground and fully ADA accessibility. It's the kind of beach that works for everyone. And snorkeling, it's decent right near the shore. There's tropical fish around the rocks. And here's something a lot of people don't know. Sombrero Beach is a major sea turtle nesting site. April through October, mostly loggerheads. Volunteers are out early in the morning checking the nests. And if you've ever watched a turtle nest release, it'll stay with you for a lifetime. And on any given day, you'll find kids playing volleyball, families growing, folks kayaking and snorkeling offshore. You'll see the distant silhouette of Sobro Key Lighthouse built in 1958, 142 feet tall. It's one of the tallest lighthouses in the Keys. It was automated in 1960 and deactivated in 2015. And the reef surrounding the lighthouse is a popular dive and snorkeling spot. Spur and groove coral formations. It's stunning. Now let's dive into real estate in Sombrero Beach because that's why you're here. Sombrero Beach is a premium location. One of Marathon's more upscale neighborhoods because of the beach. Its proximity commands a price and it deserves it. Here's what the market looks like right now. Elevated dry lot homes are priced from 1.1 to 1.8 million. Waterfront homes run from 1 to 6 million. It's a big wide range depending on location. Half duplexes are around a million three. Oceanfront homes around 4 million, and condos are from 400,000 to 900,000. If you want something truly exclusive, there's a gated neighborhood on the ocean called Sunrise Island where newer homes start over 5 million. And Tingler Island is another private enclave where homes are in the 3 to 4 million range. People love owning here because you can walk or bike to the beach. The community feel is real. Fishing, boating, and nature are all right there. Low crime, safe for families. The one thing I'll mention, depending on how you look at it, is weekly vacation rentals are permitted here with a rental license. For investors, that's an important feature. For someone looking for a quiet neighborhood, it's worth knowing. If you have questions about Sombrero Beach or any neighborhood in the Middle Keys, I genuinely want to hear from you. Call me or text me directly. I'm 305-783-3395. Ask for Margie Casey, your host right here on the Coconut Wire, and your local expert with the Brenner Shale and Casey team of Florida Keys Real Estate Group. No pressure, no runaround, just real answers from someone who knows this market inside and out. That's a wrap on this week's Coconut Wire. Hit follow so you never miss next week's update. Share the episode with a neighbor or a friend or someone who's curious about what's happening in the middle keys. We are always here to help. I'll talk to you soon.