Key West, FL housing market

The median sale price in Key West, FL was $1.29M in May 2026, up 9.3% year over year, measured across homes that actually closed that month (Redfin). The three months through May 2026 averaged $1.23M, firming from $1.17M across the three months before that. That is the strongest three-month stretch in this market's record. Zillow's home value index, which models the entire housing stock rather than only the homes that changed hands, reads $1.03M for Jun 2026, down 2.9% year over year.

Buyers had 268 homes to choose from in May 2026, down 16.0% year over year (Redfin). At the current sales pace that standing inventory works out to 6.4 months of supply; convention treats four to six months as a balanced market, which puts Key West, FL on the buyers' side of it. 44 homes came to market in May 2026, down 6.4% year over year, against 42 closings, up 20.0% year over year. Homes that sold in May 2026 took a median of 167 days to go under contract, 22 days slower than this market's usual May pace.

Competition is measurable in the closings themselves: 2.0% settled above asking, and the average sale landed at 94% of its final list price. 22% of listings carried a price cut in May 2026.

This page tracks 10 monthly housing series for Key West, FL — median sale price, ZHVI home value, inventory (active), median days on market, months of supply, homes sold, and more — sourced from Redfin, Zillow ZHVI, running from Aug 2016 through Jun 2026. Chart any of them below, switch between levels and year-over-year change, or add nearby Florida markets to compare side by side.