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Key West's coastal positioning gives agents access to multiple buyer profiles — vacation-property investors, retirees relocating from the Northeast and Midwest, and primary-residence buyers drawn by Florida's tax structure and lifestyle.
Key West is one of Florida's enduring coastal markets — a community where beach access, second-home demand, and primary-resident transactions all coexist. Inventory ranges from oceanfront condos to inland single-family, and buyer profiles span retirees, vacation-property investors, and year-round residents.
Key West is one of the most expensive markets in the country, and that changes the split math entirely. At a Key West city median around $1.27M (Redfin, May 2026), a 3% side is roughly $38,000 in gross commission — and a 25% house split quietly skims about $9,500 off every closing. At Gromadzki, that same deal costs a flat $499, whether it's a Bahama Village conch house or a Casa Marina estate. On million-dollar-plus tickets, the difference between a percentage split and a flat fee is not a rounding error — it's a down payment.
Coastal market specialists, second-home and snowbird agents, vacation-rental investor specialists, and primary-residence agents serving year-round Key West residents.
Coastal Key West agents benefit from a mixed buyer pool — primary residents, snowbirds, and second-home buyers. The flat-fee model works well across all three segments since the $499 fee applies the same to a primary-home sale and a vacation-property close.
Sources: Redfin (Key West, May 2026); Houzeo Key West housing market (months of supply, days on market, and cash share, March 2026). Monroe County residential median was $965,000, +12% YoY (Florida Keys Real Estate / FKMLS, May 2026) — used as the cross-checked anchor because thin, high-dollar Key West city sales swing the median month to month.
Key West is a small, supply-starved, high-dollar market — and in 2026 it is appreciating even as it slows down, which sounds contradictory until you look at the two numbers side by side. The Key West city median sale price sits around $1,271,739, up 12% year over year (Redfin, May 2026), and the countywide anchor tells the same story: the Monroe County residential median hit $965,000, up 12%, on closed sales up 15% (Florida Keys Real Estate / FKMLS, May 2026). Yet homes are taking a median ~126 days to sell at roughly 6–8 months of supply (Houzeo, March 2026; MoveWithMomentum 33040 scorecard, August 2026) — buyer-leaning inventory levels that would normally push prices down.
The reason prices climb anyway is structural scarcity. Monroe County's ROGO growth caps (the Rate of Growth Ordinance) tightly ration new building permits across the Keys, so supply cannot expand to meet demand the way it can in mainland Florida. Active Keys inventory was down about 0.8% year over year even as prices ran (Florida Keys Real Estate / FKMLS, May 2026). That means fewer transactions, much larger tickets, and long marketing timelines — a market where a handful of well-run listings a year can outproduce dozens of mainland closings.
Key West is several micro-markets stacked onto a four-by-two-mile island, and a "Key West median" is nearly meaningless without a neighborhood attached. Old Town — the historic district of eyebrow houses, conch cottages, and gingerbread Victorians — averages around $1,379,547, with smaller cottages pulling the entry point down and restored landmark homes running well past $3M. Oceanside Casa Marina is the top of the market at roughly $2,340,875, while New Town, the more conventional single-family and townhome side of the island, averages about $1,140,115 and carries much of the primary-residence and relocation demand (neighborhood averages per Homes.com/Movoto, early 2026).
Truman Annex, the gated former naval district beside Fort Zachary Taylor, carried a median near $1,547,500 (Homes.com, January 2026) and is a case study in how policy moves value here — see the transient-license note below. Key Haven, just off the island on Raccoon Key, offers canal-front and boating homes at a relative discount to Old Town's historic premium. Clients who understand this spread are the ones who trust you to price and negotiate; agents who quote a citywide number without a neighborhood lose them.
Key West runs on cash to a degree most agents never see elsewhere: roughly 46% of purchases close all-cash (Houzeo Key West market report, 2026). That's a direct read on who's buying — affluent second-home and vacation-home buyers, retirees and relocation buyers, and investors, far more than first-time owner-occupants priced out by seven-figure entry points. A large share of demand originates off-island, which means out-of-state and international buyers, remote closings, and clients who need an agent as their eyes and ears on inspections, insurance quotes, and flood-zone research.
Carrying costs shape every one of those deals. Monroe County has the most expensive average home-insurance premium in Florida — roughly $9,000+ a year, with Key West itself averaging near $9,835 and rising (Insurify / Clovered Key West insurance guides, 2026). That's before flood: standard policies exclude it, Fair Insurance Rates for Monroe (FIRM) estimates 90%+ of county homeowners face flood-rate increases under Risk Rating 2.0, and wind coverage alone commonly runs $4,000–$7,000 a year. On top of that, Key West maintains a complete moratorium on new transient (short-term) rental licenses — the most restrictive stance in the Keys — so grandfathered licensed properties trade at a premium and non-licensed homes carry a hard 30-day minimum. That premium is fragile: the special Truman Annex transient licenses were voided December 22, 2025, with city medallions due back by February 1, 2026 (Keys Weekly / keysnews, 2025-26). Agents who can read an elevation certificate, a wind-mitigation report, and a license status keep these deals from collapsing at the quote stage; here that diligence is a core skill, not a footnote.
Key West agents belong to the Key West Association of REALTORS® (KWAR) and list through the Florida Keys MLS (FKMLS), the multiple-listing service covering Key West, Marathon, Key Largo, and the rest of the Keys. One FKMLS membership lets a Key West agent work the whole island chain — Lower, Middle, and Upper Keys — on a single license and a single MLS, which pairs naturally with a flat-fee brokerage in a market where deals are large but infrequent.
Now the math, at real Key West prices. Take the Key West city median of about $1.27M (Redfin, May 2026). A single 3% side grosses roughly $38,000. At a 25% split brokerage, about $9,500 of that one commission goes to the house — before any monthly desk or franchise fees. At Gromadzki, that closing costs $499 flat, so roughly $37,600 stays with the agent. Close just five sides a year at that median and you gross about $190,000; a 25% split keeps around $47,500 of it, while Gromadzki's total take is $2,495 — leaving roughly $45,000 more in your pocket. In a market where each deal takes months of work, insurance expertise, and license diligence to earn, a percentage split taxes exactly the skill that closes the deal. A flat fee doesn't.
One simple structure, statewide. $499 per closed deal, $0 monthly, $0 annual — and you keep 100% of your commission on every Key West transaction.
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