Data Analysis

Redfin reports a Key West median sale price of $1,264,312 for the three months ending June 2026, up 28.0% year over year, while median days on market stretched to 148.

Redfin counts 141 homes sold in the city over the period, up 19.8% from a year earlier. Marketing time lengthened by 51 days year over year, the largest move of any figure in the release.

Redfin reports the median Key West sale price at $1,264,312 over the three months ending June 2026, up 28.0 percent from the same period a year earlier. Redfin counts 141 homes sold in the city during that rolling three-month window, an increase of 19.8 percent year over year. The median days on market reached 148 for the period, 51 days longer than a year ago, per Redfin. The average sale-to-list ratio was 94.7 percent, up 0.09 percentage points and effectively flat, while 2.9 percent of homes sold above list price, down 2.2 percentage points, according to the same Redfin dataset.

A geographic note first. These figures cover the city of Key West as Redfin publishes it. The Florida Keys market our Florida Keys hub tracks runs the full length of the island chain, and Key West is one city within it, so these numbers describe the chain's largest single market rather than the Keys as a whole.

What pushed the Key West median up 28 percent?

A 28.0 percent year-over-year jump in the median sale price, per Redfin's figures for the three months ending June 2026, demands scrutiny before it gets read as appreciation. The critical context is transaction count. Redfin recorded 141 sales in the city over the entire three-month period, fewer than 50 closings in a typical month. In a sample that small, the median is highly sensitive to which homes happen to trade. A quarter in which several high-end properties close can pull the median up sharply without any individual home gaining value, and the reverse can happen the following quarter. The rest of the dataset argues against a bidding frenzy. The average closing came in at 94.7 percent of list, and only 2.9 percent of homes sold above asking, per Redfin. Those are the mechanics of mix shift, at least in part, rather than pure price growth.

Why are Key West homes sitting for 148 days?

The 51-day year-over-year increase in median days on market, per Redfin's data for the three months ending June 2026, is the largest days-on-market move of any market we cover from this release. At 148 days, the typical Key West listing took nearly five months to go under contract, against roughly three months in Miami-Dade County, West Palm Beach, and St. Lucie County over the same Redfin period. Higher-priced markets generally move slower because the buyer pool at any given moment is thinner, and a shift in the mix of what is listed toward more expensive properties would stretch the median marketing time for the same reason it lifts the median price. Whatever the cause, the practical consequence is the same. Sellers should plan for a long marketing period, and buyers face little pressure to rush an offer on a listing that has already sat for months.

How firm are asking prices in Key West?

Redfin puts the average sale-to-list ratio at 94.7 percent for the three months ending June 2026, up 0.09 percentage points year over year, a change small enough to call flat. At the period's median sale price of $1,264,312, a 94.7 percent ratio implies the typical closing landed roughly $70,000 below the final asking price. Meanwhile the share of homes selling above list fell 2.2 percentage points to 2.9 percent, per Redfin. Fewer than three sales in a hundred cleared asking, which means competitive bidding was rare in the city over this period. Taken together with the 148-day median marketing time, the negotiating picture tilts toward buyers on any individual transaction, even in a quarter when the headline median jumped 28.0 percent. Sellers holding out for full ask were, on average, waiting a long time and still conceding at the close.

Can rising sales and slowing sales coexist?

The Key West data shows how. Closed sales rose 19.8 percent year over year to 141 over the three months ending June 2026, per Redfin, while the median time to sell those homes stretched by 51 days. More homes selling and homes selling slower are compatible when the pool of active listings grows. A larger inventory can produce more total closings even as each individual listing waits longer for its buyer. The pattern differs from West Palm Beach in the same Redfin release, where sales rose 39.0 percent while marketing time barely moved. For Key West sellers, the takeaway is concrete. Demand exists at some price for more homes than a year ago, and the market is simultaneously slow enough that overpricing carries a real carrying-time cost measured in months.

Does Key West speak for the whole Florida Keys?

No. The city of Key West sits at the end of an island chain whose markets, from Key Largo through Marathon to the Lower Keys, each carry their own inventory, price points, and buyer profiles. Redfin publishes the city as a distinct geography, and everything in this article describes that city alone. A $1,264,312 median over the three months ending June 2026, per Redfin, reflects Key West's housing stock specifically and should not be projected up or down the chain. With 141 sales in the period, even the citywide figures move on small samples, and submarkets within the city move on smaller ones still. Our companion reports on Miami-Dade County, West Palm Beach, and St. Lucie County from the same June 2026 Redfin release are collected in the news section.

Limitations

Several caveats bound this report. Redfin's figures reflect transactions within its platform coverage and the MLS feeds it processes, as published by Redfin, and may not match other data providers for the same city. All numbers cover a rolling three-month window ending June 2026, and with only 141 sales in that window, small-sample volatility affects every metric here more than in larger markets. The geography is the city of Key West only, far narrower than the full Florida Keys market our hub covers. Redfin also revises published data over time as additional closings are reported, so figures on the source pages may differ from those above at a later date.

Sources

• Redfin, Key West housing market data, rolling three months ending June 2026: https://www.redfin.com/city/9311/FL/Key-West/housing-market
• Redfin Data Center: https://www.redfin.com/news/data-center/

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.