Key West, FL metro area Housing Market
Cold MarketComprehensive housing market data for the Key West, FL metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$1.07M
↑ 7.0% YoY
Days on Market
130 days
↓ 2.3% YoY
Active Inventory
1,341
↓ 11.8% YoY
Homes Sold
201
↑ 33.1% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Key West, FL metro area Market Summary
The Key West, FL metro area housing market is cooling down. As of March 2026, the median home sale price is $1.07M, up 7.0% year-over-year. Homes are spending a median of 130 days on the market, 2.3% shorter than a year ago.
There are 1,341 homes for sale — 11.8% fewer than last year. With 6.7 months of supply, this is a buyer's market. 242 new listings were added during this period, down 12.9% year-over-year.
Homes are selling for 93.9% of their list price on average, suggesting room for negotiation. 3.5% of homes sell above their asking price. 30.1% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
93
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 145% above the national median. Focus on rent-to-price ratios to ensure deals still cash flow.
Key West, FL metro area Market Trends
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Detailed Market Metrics
Median List Price
$1.09M
Price per Sq Ft
$791
Sale-to-List Ratio
93.9%
Months of Supply
6.7
Sold Above List
3.5%
Price Drops
30.1%
New Listings
242
↓ 12.9% YoY
Pending Sales
223
Off Market in 2 Weeks
16.6%
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.