Updated housing market forecast with median home price, inventory pressure, selling speed, and buyer timing insights
Data through July 2026 · Source: Redfin market data
$1.13M
Median Sale Price
154
Days on Market
6.6
Months of Supply
+22.0%
YoY Change
Buyer's Market
Market Type
With 6.6 months of inventory, buyers have negotiating power in Key West.
Quick market answer
Key West is currently a buyer's market with a median sale price of $1.13M, homes taking about 154 days to sell, and 6.6 months of supply. Buyers usually have more room to compare listings, request concessions, and negotiate price when supply stays elevated.
Best Month to Buy
Nov
Typically lowest prices
Most Expensive Month
Mar
Peak pricing period
Seasonal Pattern
Winter is cheapest
Current DOM
154
days
Average DOM
121
days
Fastest
45
days
Slowest
197
days
Homes are currently selling slower than usual in Key West.
View detailed selling time analysis →The Key West housing market is currently characterized as a buyer's market. With a median sale price of $1.13M and homes spending an average of 154 days on the market, buyers have ample time to make decisions and negotiate.
The median home price in Key West, FL is currently $1.13M. Buyers can use that number as a quick benchmark for affordability, while sellers can use it to sense-check list price expectations. For better context, compare this figure with inventory levels, sale-to-list ratio, and neighborhood-level demand before making a move.
Homes in Key West are averaging 154 days on market. That metric helps show whether listings are moving quickly or sitting long enough for buyers to negotiate. If median days on market starts falling while inventory stays tight, sellers usually gain more leverage.
Buyers should compare current pricing, inventory, and seasonal trends before making an offer. The seasonal pattern above shows which months typically have the lowest prices. Sellers should also review our how long homes take to sell in Key West analysis.
The current inventory of 255 homes gives buyers plenty of options. With 6.6 months of supply, you'll have room to negotiate and take your time finding the right property.
If you are buying, watch months of supply, price cuts, and how often homes sell above list. If you are selling, focus on pricing strategy and median days on market. In a fast market, buying sooner may protect you from higher prices. In a slower market, waiting can give you more leverage and more choices.
Homes in Key West are selling at 95.5% of their list price on average. Approximately 3% of homes sell above asking price. The typical time to sell is 154 days from listing to closing. Check current real estate commission rates in Florida to understand your selling costs.
For deeper timing data, review our how long it takes to sell in Key West report. If you want boots-on-the-ground advice, connect with a local real estate agent who knows the Key West market block by block.
Based on current trends, here is our data-driven outlook for the Key West real estate market heading into 2027.
Prices in Key West are rising at 22.0% year-over-year. This pace suggests continued appreciation, though at a potentially moderating rate as inventory adjusts.
At 6.6 months of supply, buyers have leverage. Sellers may need to price more competitively or offer concessions.
With 154 days on market, homes are taking longer to sell. Strategic pricing will be key for sellers in 2027.
Bottom line: Key West is currently a buyer's market. Take advantage of the negotiating power, but work with an experienced agent to identify the best deals. Find a Key West real estate agent to get personalized market advice.
You can also compare nearby markets, review monthly price trends, and track days on market to spot when negotiating power is shifting. Those signals often matter just as much as headline median prices.
Key West, Florida has a balanced with moderate competition real estate market in 2026. The median home price is $1.1M. Homes typically sell in 154 days. Working with a local agent helps you navigate the market and find the best opportunities.
The median home price in Key West, Florida is $1.1M as of 2026. A local real estate agent can help you find homes within your budget and identify upcoming listings.
Houses in Key West, Florida typically sell in 154 days on average. Proper pricing and staging are essential to attract buyers in the current market. A top local agent can help sell your home faster and for the best price.
Real estate agent commissions in Key West, Florida typically range from 5-6% of the sale price, split between buyer's and seller's agents. Our free matching service connects you with vetted local agents at no additional cost to you—we're compensated through standard referral fees from the agent's existing commission.
Key West, Florida offers opportunities for first-time buyers, though prices may require first-time buyer assistance programs. Florida offers several first-time buyer programs including down payment assistance. A local agent experienced with first-time buyers can guide you through the process and available programs.
Connect with a local expert who knows the Key West market.
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