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KEY WEST, FL 33040

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

Market Analysis

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

The KEY WEST, FL real estate market (33040) currently shows 443 active listings, with 83 pending sales. Homes are averaging 80 days on the market before going under contract.

Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 80 days on market compared to 65 days last year.

The median listing price has fallen 12.2% year-over-year, from $1,546,000 to $1,357,250.

Whether you are buying or selling in KEY WEST, FL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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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
443
⇩ 0.9% vs 447 last year
Pending
83
19% pending ratio
Median Price
$1,357,250
⇩ 12.2% vs $1,546,000 last year
Average Price
$1,916,028
⇩ 3.6% vs $1,988,529 last year
Days on Market
80
⇧ 23.1% vs 65 days last year

Price Per Square Foot

Median $/sqft
$1,056
⇩ 1.7% vs $1,074/sqft last year
Median Home Size
1,376 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 443 this year vs 447 last year
  • Days on market: 80 now vs 65 last year

Median & Average Pricing

Year over Year
  • Median: $1,357,250 (-12.2% YoY)
  • Average: $1,916,028 (-3.6% 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 — 808 listings ($1,852,978,067 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
33040Key West, FL 330400.0 mi394$781,799,228$1,395,000$1,984,262
33043Big Pine Key, FL 3304325.9 mi88$116,370,496$975,000$1,322,392
33051Key Colony Beach, FL 3305146.6 mi64$127,208,960$1,362,500$1,987,640
33036Islamorada, FL 3303673.4 mi149$647,471,156$2,574,500$4,345,444
33187Miami, FL 3318798.9 mi98$169,837,822$869,000$1,733,039
33194Miami, FL 33194104.8 mi15$10,290,405$569,000$686,027

Frequently Asked Questions

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

As of February 2026, there are 443 active listings in KEY WEST, FL (zip code 33040), compared to 447 the prior year.

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

The median listing price in KEY WEST, FL 33040 is $1,357,250 as of February 2026, a 12.2% decrease from $1,546,000 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 80 days on the market before going under contract, compared to 65 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 February 2026, KEY WEST, FL 33040 is currently a Balanced Market. Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 80 days on market compared to 65 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 $27,145 compared to a typical 5% commission on the median listing price of $1,357,250. 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.