71 New Listings in the Florida Keys Last Week – What’s Holding Some Sellers Back?

Last week, 71 new real estate listings hit the market in the Florida Keys. While that’s still a solid number, it’s slightly lower than in previous weeks—especially considering we’re in the middle of our peak selling season.

So, why might some homeowners be hesitant to list right now? A few key factors could be at play:

1. Mortgage Rate Lock-In Effect

Many homeowners secured low-interest rates during the past few years. With today’s mortgage rates significantly higher, sellers may be reluctant to trade their current home for one with a much higher borrowing cost. This “rate lock-in” effect is a major factor keeping inventory tight.

2. Market Uncertainty

While demand for Florida Keys properties remains strong, some sellers are cautious about the broader economic landscape. Concerns about inflation, rising insurance costs, and general economic uncertainty may be leading homeowners to delay listing until they feel more confident in market conditions.

3. Seasonal Rental Income Considerations

Many Keys homeowners use their properties as vacation rentals, especially during the high season. Listing a home now could mean missing out on lucrative seasonal rental income. Some owners may prefer to wait until the off-season when rental demand slows down.

4. Supply & Demand Strategy

With fewer homes on the market, sellers may believe they can command a higher price by waiting for an even lower inventory period. However, this strategy carries risks—buyers today are still actively searching, and interest rate fluctuations could impact affordability in the future.

5. Emotional Ties to the Property

For many, selling a home in the Florida Keys isn’t just a financial decision—it’s an emotional one. Longtime owners, particularly those with second homes, may struggle with the idea of letting go, even if market conditions are favorable.

What This Means for Buyers & Sellers

While inventory remains lower than expected, motivated sellers still have an opportunity to attract serious buyers. If you’re considering selling, now is a great time to take advantage of strong demand. And for buyers, staying proactive and working with a knowledgeable local agent is key to securing the right home in this competitive market.

If you’re thinking about buying or selling in the Florida Keys, let’s talk! I’ve been helping clients navigate this unique market for over 30 years. Contact me anytime to discuss your real estate goals.

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