Key West, FL Housing Market
Cold MarketMetro-level monthly sale metrics for rental investors — prices, inventory, pace, and negotiation signals. Figures represent the Key West, FL metro area.
Data period: May 2026
Market snapshot
- Median sale price
- $1.05M
- Median days on market
- 109 days
- Months of supply
- 6.7
- Active inventory
- 1,232
- Homes sold
- 184
- Sale-to-list ratio
- 94.1%
- Listings with price drop
- 22.4%
- Data month
- May 2026
Pair this view with the rental property calculator, DSCR calculator, and cap rate calculator — or browse all calculators.
Rental Investor Snapshot
Labels below come from monthly sale-market indicators only. True cash flow requires local rent, taxes, insurance, vacancy, and expense assumptions — model those in the rental calculator, then sanity-check against sale-speed signals here.
- Market temperature
- Cooling
- Buyer leverage
- High
- Pricing signal vs. U.S. median
- Harder buy-in vs. U.S. median (price only)
- Investor fit (heuristic)
- Negotiation · BRRRR
Watch-outs
- High median sale prices raise buy-in and tighten margin for error.
- Slower sales (longer days on market) can mean more time to diligence — but also weaker demand.
- Elevated price cuts can signal negotiation room — verify condition, rents, and comps street-by-street.
Suggested next step: Run a rental property analysis with your own rent, financing, vacancy, and expense assumptions — then sanity-check against this market's sale-speed and negotiation signals.
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Key West, FL market summary
The Key West, FL metro area housing market is cooling down. As of May 2026, the median home sale price is $1.05M, up 19.9% year-over-year. Homes are spending a median of 109 days on the market, 0.9% shorter than a year ago.
There are 1,232 homes for sale — 12.4% fewer than last year. With 6.7 months of supply, this is a buyer's market. 210 new listings were added during this period, down 7.5% year-over-year.
Homes are selling for 94.1% of their list price on average, suggesting room for negotiation. 1.6% of homes sell above their asking price. 22.4% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
88
Contributing Factors
How This Market Compares
vs. National Median
vs. Florida Median
Investor takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. High inventory relative to sales pace means buyers have options and sellers may be flexible on price. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 135% above the national median. Model rent-to-price and expenses carefully before assuming cash flow.
Key West, FL market trends
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Detailed market metrics
Median list price
$1.13M
Price per sq ft
$750
Sale-to-list ratio
94.1%
Months of supply
6.7
Sold above list
1.6%
Price drops
22.4%
New listings
210
↓ 7.5% YoY
Pending sales
195
Off market in 2 weeks
15.4%
Key West, FL housing market FAQs
What is the median home price in Key West, FL?
For the latest published month, the median sale price in Key West, FL is $1.05M. Median means half of homes sold above that price and half below — it is a useful benchmark, not a rule for every listing.
Is Key West, FL a buyer's or seller's market?
With about 6.7 months of supply, conditions often favor buyers (inventory is relatively high versus sales pace). That can mean more time to negotiate and compare listings.
How long do homes stay on the market in Key West, FL?
For the latest published month, the median days on market in Key West, FL is 109 days — half of homes went pending faster and half slower.
Is Key West, FL good for rental property investors?
Sale-market stats show how competitive buying is (speed, negotiation, inventory). They do not prove rent performance. Key West, FL can still work for rentals if the numbers work on a deal-by-deal basis — use local rent comps, financing, vacancy, and expenses in the rental property calculator.
How should investors analyze a rental property in Key West, FL?
Start with purchase price, financing, rent, vacancy, operating expenses, and capital repairs. Stress-test rates and rent. Will It Flow’s rental property calculator is built to translate those inputs into cash flow, DSCR, cap rate, and cash-on-cash return for Key West, FL deals.
Compare more Florida metro markets
Explore nearby sale-market pace and pricing, then run a shortlist through the rental property calculator.
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West Palm Beach, FL
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North Port, FL
$420K · 64d on market
Fort Lauderdale, FL
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Cape Coral, FL
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Miami, FL
$570K · 86d on market
National context
Step up to the U.S. housing market hub for national trends, then browse top metro markets by sales activity.
Underwrite a Key West, FL deal with real numbers
Use Will It Flow for cash flow, DSCR, cap rate, and cash-on-cash return — free and fast.
Housing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.