Is late summer a good time to buy in Key West?

Often yes. New pending sales were lower year over year and active inventory was slightly higher, which can create opportunities. Setting a saved search ensures you see the best matches first.

Why are pendings down year over year if closed sales are up?

Many August closings were written earlier in the summer. New pending totals reflect current buyer pace, which typically slows late summer before picking up again in fall.

Are Key West home prices still rising?

Yes. The August 2025 median sale price was $1,097,500, up 5.3 percent compared with August 2024.

How can I follow monthly Key West market changes?

Subscribe to Jim Signor’s monthly update or check the market report blog. Jim can also set up a custom saved search tailored to your budget and lifestyle goals.

Key West Real Estate Market Report – August 2025

key west real estate market

Data source: Florida Realtors SunStats, Key West (City) Residential, August 2025 vs August 2024. Figures may be revised by the source after initial publication. Information deemed reliable but not guaranteed.

Snapshot of the Key West Housing Market

This August 2025 update focuses on Key West. The Florida Keys follow a familiar rhythm - activity often eases in late summer before picking up again in fall. Reviewing these year-over-year numbers shows how the market is trending right now.

Key Market Highlights – August 2025 vs August 2024

Active Inventory: 248 (+6.0%)
Pending Inventory: 27 (–36%)
Closed Sales: 32 (+14%)
New Listings: 35 (–5.4%)
New Pending Sales: 24 (–29%)
Median Sale Price: $1,097,500 (+5.3%)

Market Interpretation

The August 2025 snapshot shows how Key West is performing compared with the same time last year. Closed sales increased 14% while new pending contracts dropped 29% and pending inventory fell 36%. That mix points to a market that is still moving, but at a more deliberate pace.

Active listings are up 6% and the median price rose 5.3% to $1,097,500. Nationally, many markets see more selection and cautious contracting. In Key West this aligns with our seasonal rhythm. Late summer is quieter, then momentum usually returns as out of town buyers plan for winter.

For those trying to time the market by waiting, recent months have shown that waiting often means watching prices edge higher while missing another season of Keys living. Most Keys buyers are lifestyle-focused - people who’ve already built their success and are now deciding how they want to live it, right here in paradise.

City of Key West City of Key West

What This Means for Buyers and Sellers

Buyers: Slightly higher inventory and slower new pending sales can create opportunities. Stay ahead by creating a saved search so you see the latest Key West homes for sale as soon as they hit the market.
Sellers: Serious buyers remain active, but they’re focused on well-priced homes. Preparation and smart pricing are what separate listings that move from those that sit.

For Buyers

Interest rates have eased slightly, giving buyers a touch more breathing room. Confidence is improving across the Keys, and well-priced homes in Key West are still drawing offers. If activity keeps building into fall, waiting could mean facing tighter competition.

For Sellers

While buyers are out there, they’re making offers on homes positioned as values - no one is going to overpay. Serious buyers remain active, and competitively priced listings are the ones moving. With limited inventory, well-presented homes still stand out quickly. If you’ve been thinking about selling, now’s the time to position early before renewed winter demand arrives - the listings seen as the deal of the day are the ones that move first.

Key West Market FAQ

Is early fall a good time to buy?
Often yes. With some buyers pausing travel plans or waiting for rate changes, inventory can sit a bit longer - giving you time to evaluate options and negotiate from a position of knowledge. A saved search keeps you first in line when new listings appear.

Are prices still rising?
Yes. The August 2025 median sale price in Key West was $1,097,500, up 5.3% from August 2024. Even as pace shifts, well-positioned homes continue to attract qualified buyers.

How can I track these market updates each month?
Subscribe to my monthly market update or check this blog regularly. I can also set up a Key West market alert customized to your price range and property preferences.

Bonus Snapshot: Mile Marker 0 – The End (and Beginning) of the Road

mile marker 0 key west

Every visitor eventually ends up here - the famous green Mile Marker 0 sign at the corner of Fleming and Whitehead Streets. It’s where the 113-mile stretch of the Overseas Highway officially begins (or ends, depending on your direction). For longtime locals, it’s more than a photo op - it’s a reminder that living in the Keys means slowing down, breathing in salt air, and celebrating that you’ve reached the edge of the map and still have everything you need.

While the national headlines talk rates and markets, in Key West the conversation usually turns to sunshine, fishing reports, and where to catch the best sunset. Maybe that’s why our real estate market keeps its own rhythm. Numbers matter, but lifestyle always wins — and that spirit is perfectly captured right here at Mile Marker 0.

Check out this beautiful Key West home!

For a taste of classic Key West living, check out 1610 Von Phister Street. It’s the kind of place that reminds you why people fall in love with the island.

Questions about the Key West market or a specific property?

Contact Jim Signor for details and, of course, get your Florida Keys Real Estate information at KeysListings.com.

Key West Real Estate Market Update