Market Intelligence · FL / Key West

Key West, FL 33040 Housing Market

The typical home in Key West, FL 33040 is valued at $949,386, down 0.9% over the past year. The median list price is $1,149,000, and homes sit a median of 111 days on the market. That suggests a market where sellers should price carefully.

Updated August 2026Median value$949K

The median home value in Key West, FL 33040 is $949K as of August 2026, down 0.9% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 33040 range

$873K to $1.03M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-0.9% over 12 months

Typical home value in 33040 over the last 12 months: $958K in Aug 2025 to $949K in Aug 2026 (-0.9%).

Aug 2025$958K

Aug 2026$949K

The numbers

What is the 33040 housing market like?

Typical home value

$949K

Down0.9%YoY

Median list price

$1.15M

Down5.1%MoM

Days on market

111

Up7.8%MoM

Homes for sale

276

Down8.6%MoM

Price cuts

18.4%

Up35.4%MoM

New listings

40

Up17.6%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 33040 home prices compare?

  • 33040$949,386
  • Key West$949,386
  • Florida$345,153
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Key West: 1 ZIPs; Florida: 923 ZIPs; United States: 26,265 ZIPs).

Context

There are 276 homes for sale in 33040, with 40 new listings hitting the market. The median list price of $1,149,000 sits well above the typical home value of $949,386, and that value has slipped 0.9% over the past year. Homes are moving slowly, with a median of 111 days on market. About 18.4% of listings have taken a price cut. For a seller, this reads as a patient buyer's market where realistic pricing matters more than ambition.

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