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: January 2026
Median Sale Price
$1.15M
↑ 7.0% YoY
Days on Market
127 days
↑ 18.7% YoY
Active Inventory
1,346
↓ 5.6% YoY
Homes Sold
105
↑ 7.1% 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 January 2026, the median home sale price is $1.15M, up 7.0% year-over-year. Homes are spending a median of 127 days on the market, 18.7% longer than a year ago.
There are 1,346 homes for sale — 5.6% fewer than last year. With 12.8 months of supply, this is a buyer's market. 304 new listings were added during this period, down 3.5% year-over-year.
Homes are selling for 94.2% of their list price on average, suggesting room for negotiation. 1.9% of homes sell above their asking price. 25.3% 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 172% above the national median. Focus on rent-to-price ratios to ensure deals still cash flow.
Key West, FL metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$1.29M
Price per Sq Ft
$810
Sale-to-List Ratio
94.2%
Months of Supply
12.8
Sold Above List
1.9%
Price Drops
25.3%
New Listings
304
↓ 3.5% YoY
Pending Sales
188
Off Market in 2 Weeks
18.6%
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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.