Key West Homes for Sale: What the 33040 Market Looks Like in October 2026
Updated October 28, 2026 by Krystal Sheehan, Broker Associate and Key West resident since 2003.
Quick answer: As of October 2026, the median sale price for Key West homes in the 33040 zip code is about $907,500, down 4.3% from a year ago, according to Move with Momentum's market data. The typical home takes around 82 days to sell, and with roughly 1,348 active listings across Monroe County, buyers have more choice and more room to negotiate than they have in years.
Key West Real Estate Market at a Glance, October 2026
33040 median sale price: about $907,500 (down 4.3% year over year, based on 309 recent sales).
Median days on market: about 82, so sellers are waiting longer and buyers can take their time.
Monroe County active MLS listings: about 1,348 as of October 27, up from 1,302 on October 19.
The best priced Key West homes for sale still move. Overpriced homes sit.
How Much Does a Home Cost in Key West Right Now?
The typical home in 33040 sold for about $907,500 over the most recent reporting period. That figure blends everything from condos on the east side of the island to single family homes in Old Town, so your actual budget depends on neighborhood, property type, elevation, and whether the home carries a transient rental license.
Here is how I explain the price ladder to buyers who are new to the island:
Property type | What usually drives price | What to ask about first |
Condos and townhomes | Location, HOA amenities, rental rules | HOA reserves, insurance, and the building's rental policy |
Single family in New Town and the east side | Lot size, parking, flood zone | Elevation certificate and flood insurance quote |
Old Town historic homes | Walkability, porches, pools, historic character | HARC history and any open permits |
Waterfront with dock | Water depth, dock length, open water access | Dock permits, seawall condition, VE or AE zone |
Transient licensed properties | Nightly rental rights | License status confirmed with the City of Key West |
Want to go deeper on a property type? Read my guides in Neighborhoods & Buildings and Rental Licenses.
Is It a Buyer's Market in Key West?
It is leaning toward buyers. A median of 82 days on market and a growing inventory mean most buyers are no longer competing in bidding wars. You can ask for inspection repairs, request seller credits toward insurance or closing costs, and negotiate on homes that have been sitting.
Key West is not one market, though. Homes that are priced right, elevated, and move-in ready still draw attention quickly. The leverage is real on homes that launched too high or need work.
What Does 82 Days on Market Mean for Buyers and Sellers?
For buyers: You have time to do your homework. Get flood and wind insurance quotes before you write an offer, pull the permit history, and walk the neighborhood at night and on a weekend.
For sellers: Pricing discipline matters more than it did two years ago. A home that misses the market in the first few weeks often sells for less after price cuts than it would have with the right price on day one. My Selling guides walk through how to get it right.
Why Is Everyone Looking at Key West Homes This Week?
Late October is one of the busiest stretches of the year on the island. Fantasy Fest just wrapped, and Trop Rock'N Duval runs October 28 through November 1 with more than 50 artists across 22 Duval Street venues, as listed on This Week in Key West. Halloween falls on a Saturday this year too. Many of the people wandering Southard and Fleming this week will be asking me in January whether they can actually make the move.
How Do I Start Searching for Key West Homes for Sale?
Set your must-haves. Parking, pool, walkability, dock, and rental rights each change the price range dramatically.
Get pre-approved with a lender who knows the Keys. Insurance and flood requirements affect your monthly payment as much as the interest rate.
Request insurance quotes early. Do not wait until you are under contract. Start with my Insurance & Flood guides.
Work with a local agent. The questions that matter most here (transient licenses, HARC, flood elevation, ROGO) are not answered on the big portal sites.
Frequently Asked Questions
What is the median home price in Key West, FL in October 2026?
The median sale price in the 33040 zip code is about $907,500, based on 309 recent sales, down 4.3% from the prior year, according to Move with Momentum.
How long do homes take to sell in Key West?
The median is currently about 82 days on market, though well priced, move-in ready homes often sell faster.
How many homes are for sale in the Florida Keys right now?
Monroe County showed about 1,348 active MLS listings on October 27, 2026.
Is now a good time to buy a home in Key West?
For buyers who plan to hold long term, more inventory and longer days on market usually mean better negotiating leverage. Run your numbers with a local agent and lender first.
Thinking About Buying in Key West?
I have lived in Key West since 2003 and have been helping buyers and sellers here since 2011. If you want a clear read on what your budget buys in today's market, reach out and I will put together a custom list of Key West homes for sale that fit how you actually want to live.
Call or text 305-394-4073, email krystal@kskeywest.com, or browse more local guides on the Key West blog.
Sources
All The Best From The Florida Keys.
Krystal Sheehan | eXp Realty | Licensed in Florida
Market figures are from Move with Momentum's 33040 market page (refreshed October 27, 2026) and are subject to change. Information is believed accurate as of publication but is not guaranteed. Always verify current figures and property details before making decisions.
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