KEY WEST BY THE SEA
Homes for Sale in Key West, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Key West by the Sea sits inside the Monroe County market, where land scarcity and coastal exposure have historically compressed supply and elevated pricing. The median sold price of $640,000 reflects that premium, but a year-over-year decline of 13.2 percent signals that sellers are no longer setting the pace. Buyers who were priced out or priced-cautious during the run-up now have measurable negotiating room — a shift that is confirmed by a market heat score of 36, a reading that sits clearly in buyer-leaning territory.
The longer arc still matters: prices are up 135 percent since 2012, which means owners who bought in that era are sitting on substantial equity even after the current correction. For a seller today, realistic pricing is non-negotiable — the market will not paper over an overpriced listing. For a buyer, the correction is real but the asset class remains illiquid and idiosyncratic, so every offer should rest on current comparable data, not the peak-era narrative.
KEY WEST BY THE SEA right now
🔴 Off the recent peak. The trailing-12-month median ($640K) is down 13.2% from the prior 12 months ($738K) and up 135% since 2012. With about a dozen sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level floridakeys closed sales, 12-month windows ending July 27. Confidence: Low (5 and 8 sales in the two windows).
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Updated July 27, 2026 · Live data: floridakeys, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
KEY WEST BY THE SEA market snapshot (as of July 27, 2026): the median sale price is about $640K, and a median 76 days on market for closed sales. The trailing-12-month median is down 13% from the prior 12 months and up 135% since 2012, computed from record-level floridakeys closed sales (5 closings in the current window).
Key West by the Sea is a condominium community in the City of Key West, Monroe County — a market defined by constrained inventory, coastal location, and price dynamics that move independently of mainland Florida trends. With only 5 closings in the current measurement window, individual transactions carry outsized weight on reported medians, so interpreting the numbers demands context, not just calculation.
Who KEY WEST BY THE SEA is best for.
Best for
- A buyer targeting a Key West condo as a long-term hold who can anchor an offer to the current $640,000 median and use the buyer-leaning heat score as negotiating leverage.
- A cash buyer or well-qualified borrower who has already modeled Monroe County insurance costs and HOA obligations and is not surprised by what they find.
- A seller-side client with equity built since 2012 who is prepared to price at — not above — current market conditions to secure a transaction in a 76-day median DOM environment.
Probably not for
- A buyer expecting to flip quickly — a market heat score of 36 and a 76-day median days on market indicate this is not a fast-turn asset.
- Anyone whose budget is anchored to the $640,000 median but has not separately budgeted for Monroe County-specific insurance, flood coverage, and condo association costs, which can be material.
- A buyer who needs certainty from comparable data — with only 5 closings in the window, the statistical base is too thin to build tight valuation confidence without a deeper custom analysis.
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 ($640K) IS the median in the snapshot above, and the move from 2025 ($738K) IS the -13.2% one-year change.
Windows contain 4 to 14 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 WEST BY THE SEA buying strategy.
If we were buying in KEY WEST BY THE SEA 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 WEST BY THE SEA.
Reading a thin, high-stakes market
A closing count of 5 transactions in the measurement window is the most important technical fact here. In a community this thinly traded, one distressed sale or one premium unit closing can swing the reported median by a meaningful margin. The 76-day median days on market reinforces the picture: properties are sitting, not flying. That is not a crisis signal in a luxury coastal condo market — it is normal for a segment where buyers travel, deliberate, and negotiate carefully — but it does mean a seller cannot expect a quick exit at an aspirational price.
The 13.2 percent year-over-year price decline deserves to be read alongside the since-2012 gain of 135 percent. The community has not given back its long-term appreciation; it has corrected from a period of compressed inventory and elevated demand. Whether the current median of $640,000 represents a floor or a midpoint in a longer softening depends on Monroe County supply dynamics and broader coastal market conditions — neither of which any automated figure can predict. What the data does confirm is that buyers have leverage they did not have recently, and sellers need to price to the current market, not to the peak.
The location and the amenities are priced into every listing in KEY WEST BY THE SEA. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in KEY WEST BY THE SEA buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 3 factors (5.9). Basis: Long-Term Appreciation +135% since 2012; Recent Direction -13.2% year-over-year; Pricing Power 94.8% sale-to-list. Refreshed with each data update.
Why work with Momentum here
Key West by the Sea is a specialized asset in a specialized market. Monroe County has its own flood-zone underwriting requirements, condo association rules, and title considerations that differ materially from Northeast Florida norms. Momentum Realty brings a transaction-level discipline — current comps, honest pricing guidance, and no interest in telling you what you want to hear — that matters most precisely when a market is correcting and the stakes are high. With only a handful of closings in the window, you need a broker who will read the thin data correctly, not spin it.
KEY WEST BY THE SEA 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 WEST BY THE SEA 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 WEST BY THE SEA sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in KEY WEST BY THE SEA, 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 WEST BY THE SEA home worth?
Get a no-obligation home value based on real comparable sales in KEY WEST BY THE SEA, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
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Frequently Asked Questions
What is the median home price in KEY WEST BY THE SEA?
How long do homes in KEY WEST BY THE SEA take to sell?
Do cash buyers compete in KEY WEST BY THE SEA?
Have KEY WEST BY THE SEA home prices gone up?
Who is the best real estate agent for KEY WEST BY THE SEA?
How do I find a top Key West real estate agent who knows KEY WEST BY THE SEA?
Can Momentum Realty connect me with an agent for KEY WEST BY THE SEA?
Should you buy in KEY WEST BY THE SEA?
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 |
| Historical depth | Closed-sale records back to 1998 (175 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.
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