KEY ESTATES
Homes for Sale in Key West, FL
True comps, carrying-cost math, and listings before the portals.
Key Estates sits inside Key West proper, where land scarcity is structural and not a market-cycle story. The median closed price of $642,500 across only 5 closings in the snapshot window tells you two things at once: this is a high-conviction price point, and the transaction volume is thin enough that a single outlier sale moves the needle. Buyers should treat that median as directional, not definitive, and underwrite each property on its own condition, lot, and elevation profile.
At 43 median days on market, inventory is not flying off the shelf, but it is not stagnating either. That pace suggests sellers retain pricing leverage while buyers have just enough time to do proper due diligence — flood zone review, wind-mitigation inspection, and insurance cost modeling — before committing. The roughly 54 percent homestead rate signals that a meaningful share of owners occupy their homes year-round, which tends to produce steadier block-level maintenance than a market dominated by absentee owners.
The 60-Second Overview
KEY ESTATES market snapshot (as of July 27, 2026): the median sale price is about $642K, and a median 43 days on market for closed sales.
KEY ESTATES is a community of 634 homes in Key West, Monroe County, built between 1900 and 2024 (median 1963.0), with a median living area of about 1,358 square feet. 54% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Key Estates is a mid-sized Key West neighborhood of 634 homes with a build history stretching from 1900 through 2024, producing a wide vintage spread around a median construction year in the early 1960s — which means buyers are navigating everything from historic Conch-era cottages to recent new construction, all at a median living area of roughly 1,358 square feet.
Who KEY ESTATES is best for.
Best for
- A buyer with a budget around the mid-$600s who has done the Monroe County insurance homework and is comfortable with a compact footprint in exchange for a genuine Key West address.
- An investor or second-home buyer seeking a fixed-supply location who understands that thin transaction volume makes pricing precision dependent on thorough comparable analysis rather than automated estimates.
- A buyer drawn to an older, character-rich housing stock who has the appetite — and the budget — for renovation on a 1960s-era home and knows how to evaluate what has and has not been brought up to current wind and flood standards.
Probably not for
- A buyer expecting to find a large home — if living area well above 1,400 square feet is a baseline need, this neighborhood's median footprint will frustrate the search.
- A buyer who requires community amenities as part of the lifestyle value proposition — none are identified in current listings, and the neighborhood stands on location alone.
- A buyer who has not yet modeled full Monroe County carrying costs, including flood insurance and wind-mitigation expenses; the purchase price is only part of the ownership equation here, and skipping that analysis leads to regret.
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 27 of each year, from record-level floridakeys closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($642K) IS the median in the snapshot above.
Windows contain 0 to 5 sales each (5 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing data provided by Florida Keys MLS, Inc. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Monroe County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Monroe County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
The KEY ESTATES buying strategy.
If we were buying in KEY ESTATES today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in KEY ESTATES.
Stock, Size, and What Drives the Price Gap
The century-plus build span here is the central underwriting challenge. A home built in 1900 and a home completed in 2024 can sit on the same street, both captured in that $642,500 median, yet carry fundamentally different insurance profiles, code-compliance histories, and renovation burdens. Buyers should not anchor to the median as a reliable proxy for what a specific property should cost — condition variance in a neighborhood this old is wide, and price dispersion almost certainly matches it.
With no community amenities identified in current MLS listings, this neighborhood sells on its Key West location and individual property merits rather than on shared infrastructure. That is neither a flaw nor a selling point on its own — it simply means the due-diligence burden lands squarely on the property itself: lot elevation, storm hardening, utility connections, and the carrying cost math that defines ownership in Monroe County. Buyers new to the Florida Keys market routinely underestimate insurance and flood costs; in Key Estates, getting those line items right before making an offer is not optional.
The location and the amenities are priced into every listing in KEY ESTATES. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
Thin closing volume in a neighborhood like Key Estates means comparable sales data is sparse and each transaction carries more interpretive weight. Momentum's approach is to model the full cost of ownership — insurance, flood zone classification, wind-mitigation credits — before advising on offer strategy, so clients are not surprised after contract. In a market where a handful of closings defines the pricing narrative, having representation that reads beyond the headline median is what keeps a buyer from overpaying or a seller from leaving money on the table.
KEY ESTATES in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a KEY ESTATES buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed KEY ESTATES sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in KEY ESTATES, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your KEY ESTATES home worth?
Get a no-obligation home value based on real comparable sales in KEY ESTATES, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See homes for sale in KEY ESTATES on the map →
Frequently Asked Questions
What is the median home price in KEY ESTATES?
How long do homes in KEY ESTATES take to sell?
How many homes are in KEY ESTATES?
What share of KEY ESTATES is owner-occupied?
When were the homes in KEY ESTATES built?
Do cash buyers compete in KEY ESTATES?
Who is the best real estate agent for KEY ESTATES?
How do I find a top Key West real estate agent who knows KEY ESTATES?
Can Momentum Realty connect me with an agent for KEY ESTATES?
Should you buy in KEY ESTATES?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Community market stats | floridakeys closed sales, 12-month windows ending July 27, 2026 |
| Housing stock & ownership | Florida DOR 2025 assessment roll (street-list match (6 streets, ZIP 33040)) |
| Historical depth | Closed-sale records back to 2000 (41 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of floridakeys records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the floridakeys member average and 8 days faster, and we’ll price yours against live your area comps.
Looking to buy here? Search homes for sale →
What’s your home worth in your area?
A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
More Key West & The Florida Keys & Monroe County guides
Compare before you commit - every guide covers pricing, HOA/CDD, insurance posture, and fit. Browse all of The Florida Keys & Monroe County or the full Neighborhood Finder.