Market Intelligence Report — FL-580

Key West-Key Largo, FL

Monthly housing intelligence, market trends, and trusted local expertise.

Ref. No: 2026-FL-07
As of the latest 2026 data
Very Weak

Median Listing

$1.20M
-7.3% YoY

Pending Ratio

0.18
+4.1% YoY

Active Inventory

1,277
+3.9% YoY

Median DOM

103 Days
-7.2% YoY

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The Key West-Key Largo metro area is currently classified as Very Weak, primarily due to a pending ratio of 0.18. This metric indicates that demand absorption is severely lagging available supply.

Local Market Signals

Source: FRED (St. Louis Fed)

Local economic trends can influence how quickly homes sell and how much competition sellers may face.

Local economic indicators are not yet available for this metro. Check back soon.
Market Analysis

What's moving the Key West-Key Largo market right now.

Active listings have expanded by 3.9% over the past year, while new listings have shown a slight contraction of 2.0% year-over-year. The median listing price has declined by 7.3% year-over-year, alongside a 5.0% year-over-year reduction in median price per square foot. Despite a modest year-over-year increase of 4.1% in the pending ratio, its absolute level remains critically low, indicating persistent demand deficiency relative to inventory.

Historical Analysis

Market Trends

Median Price

$1.20M-0.3% MoM

Active Inventory

1,277+3.9% YoY

Days on Market

103-7.2% YoY

Sold Score™

26+4.1% YoY

Sold Score™ Over Time

Market liquidity index • 36 months

26
Aug 23Jul 26

Price & Days on Market

Median listing vs market velocity

Price DOM
Aug 23Jul 26

Inventory Dynamics

Total active listings vs new monthly supply

Active New listings
Aug 23Mar 24Oct 24May 25Dec 25Jul 26

Sourced from Realtor.com RDC Inventory Core Metrics, supplemented by the Primpted research desk. Updated As of the latest 2026 data.

Market Signals & Indicators

Negotiating Leverage

In this environment, inventory pressure is notably elevated, extending the median days on market to 103, a 7.2% reduction year-over-year. The substantial imbalance between pending listings and active supply points to a significant lack of pace in transactions, necessitating price discipline from sellers.

Luxury Segment

The average listing price increased by 0.8% year-over-year, contrasting with a 7.3% year-over-year decline in the median listing price, suggesting some variability in price dynamics across different segments. The share of price-reduced listings is 15.0%, down 0.9% year-over-year, which could indicate a slight recalibration of initial pricing strategies in the higher tiers.

Supply Dynamics

1,277 active listings represent the current floor, with new supply arriving at roughly 196 per month.

Pricing Pressure
15.0%

of active listings carry a price reduction, -0.9% from prior period.

$/Sq Ft
$1K

Median price per square foot has moved -5.0% year-over-year.

Absorption
0.18

Pending-to-active ratio — Very Weak.

Recommended For This Market

Very Weak

Selling in Key West-Key Largo, FL? Homes here are taking 8 days less to sell than last year.

Buyers have leverage in Key West-Key Largo, FL. Homes that sell are the ones priced and presented for today's conditions, not last year's.

Buyer Demand Index
18%
Median Days on Market
103 days
Inventory YoY
+4%

In a buyer's market, strategy beats timing. See how your home scores in Key West-Key Largo, FL and what moves the number.

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Metro Demographics

Metro Area
Key West-Key Largo, FL
CBSA Code
28580
State
FL