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KEY WEST, FL 33040

Real Estate Market Report
Balanced Market
September 2026  ·  Source: Realtor.com

Market Analysis

Data as of September 2026. Source: Realtor.com.

The KEY WEST, FL real estate market (33040) currently shows 312 active listings, with 49 pending sales. Homes are averaging 115 days on the market before going under contract.

Inventory has increased compared to last year, with 31 more homes available — giving buyers more choice.

Homes are selling faster, averaging 115 days on market compared to 116 days last year.

The median listing price has fallen 13.5% year-over-year, from $1,349,499 to $1,167,000.

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Market Context

Market Context

Population: 36,379  ·  Density: 792.5/mi²  ·  Median household income: $80,069

Typical home value: $765,571  ·  Homeownership: 47.7%

Market Overview

Active Listings
312
⇧ 11% vs 281 last year
Pending
49
16% pending ratio
Median Price
$1,167,000
⇩ 13.5% vs $1,349,499 last year
Average Price
$1,770,478
⇩ 2% vs $1,806,202 last year
Days on Market
115
⇩ 0.9% vs 116 days last year

Price Per Square Foot

Median $/sqft
$911
⇩ 7.7% vs $987/sqft last year
Median Home Size
1,362 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 312 this year vs 281 last year
  • Days on market: 115 now vs 116 last year

Median & Average Pricing

Year over Year
  • Median: $1,167,000 (-13.5% YoY)
  • Average: $1,770,478 (-2% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 104.8 miles — 892 listings ($1,992,335,259 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
33040Key West, FL 330400.0 mi443$848,800,404$1,357,250$1,916,028
33043Big Pine Key, FL 3304325.9 mi103$130,610,901$939,000$1,268,067
33051Key Colony Beach, FL 3305146.6 mi73$145,649,308$1,418,750$1,995,196
33036Islamorada, FL 3303673.4 mi148$653,042,896$2,550,000$4,412,452
33187Miami, FL 3318798.9 mi109$202,125,894$910,750$1,854,366
33194Miami, FL 33194104.8 mi16$12,105,856$735,750$756,616

Frequently Asked Questions

How many homes are for sale in KEY WEST, FL 33040?

As of September 2026, there are 312 active listings in KEY WEST, FL (zip code 33040), compared to 281 the prior year.

What is the median home price in KEY WEST, FL 33040?

The median listing price in KEY WEST, FL 33040 is $1,167,000 as of September 2026, a 13.5% decrease from $1,349,499 the prior year.

How long do homes stay on the market in KEY WEST, FL?

Homes in KEY WEST, FL 33040 spend an average of 115 days on the market before going under contract, compared to 116 days the prior year.

Is it a seller's or buyer's market in KEY WEST, FL 33040?

Based on current inventory and days-on-market data as of September 2026, KEY WEST, FL 33040 is currently a Balanced Market. Inventory has increased compared to last year, with 31 more homes available — giving buyers more choice. Homes are selling faster, averaging 115 days on market compared to 116 days last year.

How much can I save on real estate commission in KEY WEST, FL?

With SELL123.com's maximum 3% commission, sellers in KEY WEST, FL 33040 save an estimated $23,340 compared to a typical 5% commission on the median listing price of $1,167,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.