Key West Market Update, November 2026: Fewer Homes, Firmer Prices

Key West had fewer homes for sale in October 2026 than a year earlier, and the homes that sold brought firmer prices. Active residential inventory fell 11.4%, from 290 listings to 257, while the median sale price rose 4.9%, from $1,072,500 in October 2025 to $1,125,000.

Year to date, the picture holds steady and slightly stronger: 354 closed sales through October (up 1.4% from 349), a year-to-date median sale price of $1,127,500 (up 2.4%), and an average sale price of $1,527,981 (up 6.2% from $1,439,162).

Key West Market Snapshot, October 2026

Why did the median sale price rise in October?

The mix of sales shifted upward. Sales under $1 million fell from 13 to 7. Sales between $1 million and $2 million rose from 10 to 11, and sales at $2 million and above held at 5. With fewer entry-level closings, the middle of the market moved higher.

That is worth keeping in context. October's average sale price actually dipped 3.8%, to $1,401,435, because the top of the market was quieter: no sales above $3 million this October, compared with three a year ago.

How many homes sold in Key West in October 2026?

Twenty-three residential sales closed in October, down 17.9% from 28 last October. Pending sales were much lower, at 10 compared with 32 a year ago, a 68.7% drop. Pendings are the clearest early read on the next month or two of closings, so I'll be watching November closely.

Is Key West a buyer's or seller's market right now?

It's balanced, and tightening. Months of supply (the absorption rate) came in at 7.4, down from 8.6 last October. For the year, absorption averages 9.05 months versus 10.16 in 2025. Inventory is the main driver: new listings fell 19.8% in October (77 versus 96), and year to date new listings are down 16.5% (592 versus 709).

Sellers still need patience and good pricing. Average days on market rose to 117 from 111, and the median climbed to 107 days from 70. Homes sold for about 89.2% of their original list price in October, so the gap between asking and selling price remains real.

What are Key West homes listing for?

The median active list price is $1,299,000, up 1.9% from $1,275,000. The average active list price is $1,807,078, up 2.6%. New listings in October came on noticeably higher, with the new-listing median near $1.6 million, the highest point of the past twelve months.

Where is inventory concentrated?

Active listings cluster between $750,000 and $900,000 (42 homes) and between $1.1 million and $1.4 million (33 homes). At the upper end, there are 10 active listings at $5 million and above, the same as last year.

Key West October 2026 at a glance

• Median sale price: $1,125,000 (up 4.9%)
• Average sale price, YTD: $1,527,981 (up 6.2%)
• Closed sales: 23 (down 17.9%)
• Active inventory: 257 (down 11.4%)
• Months of supply: 7.4 (down 13.9%)
• Average days on market: 117 (up 5.4%)
• Pending sales: 10 (down 68.7%)
• 2026 YTD: 354 closed sales (up 1.4%), $1,127,500 median (up 2.4%)

What this means for buyers and sellers

For buyers, fewer listings means less choice, but longer days on market and an 89% sale-to-list ratio mean there is still room to negotiate on the right home. For sellers, prices are holding, but the market rewards homes that are priced correctly from day one.

If you'd like to talk through what these numbers mean for a specific property or neighborhood, schedule a conversation with me. You can also download the full October 2026 market summary (PDF).

Damian Vantriglia, REALTOR®, Berkshire Hathaway HomeServices Keys Real Estate. Key West residential. Comparisons are October 2026 vs. October 2025. Information deemed reliable but not guaranteed. © 2026 MLS and FBS.