Fantasy Fest and the Real Estate Market: Why October is a Sneaky-Good Time to Buy in Key West

October in Key West means one thing: Fantasy Fest. The parades, costumes, body paint, and all-night parties take over the island, drawing thousands of visitors from around the world. But here’s a little insider tip: while the streets are buzzing with feathers and glitter, the real estate market is surprisingly quiet. And for buyers, that’s actually a really big deal.

Why October is “Sneaky-Good” for Buyers

1. Fewer Buyers in the Market

Most visitors in town during Fantasy Fest are here for fun, not house-hunting. That means you’ll be competing with fewer serious buyers if you’re looking at homes in October. Less competition = more negotiating power.

2. Motivated Sellers Want to Deal

Some sellers don’t want their homes sitting through the busy winter season, especially if they’ve had their property on the market since summer. Fantasy Fest week often brings motivated sellers who are ready to accept strong offers before the holidays.

3. Beat the Winter Rush

Once November hits, “snowbird season” begins. Buyers from up north fly in looking for their Key West retreat, and inventory moves faster. Buying in October gives you the chance to lock in a property before the winter crowd drives up competition.

The Real Estate Market Right Now

Here’s where things stand heading into October 2025:

• Median Listing Price: About $1.5 million, up 4.5% from last year.

• Average Home Value: Around $1.03 million, slightly down year-over-year, which gives buyers more room to negotiate.

• Days on Market: Homes are averaging 77 days, so properties are staying on the market longer.

• Mortgage Rates: Sitting at ~6.5%, the lowest we’ve seen in months—a bonus for financing.

Strategy for Buyers This October

If you’re considering buying in Key West, here’s how to make the most of this unique timing:

• Shop During the Festival: While everyone’s distracted by costumes and cocktails, schedule showings. You’ll be one of the few serious buyers out there.

• Look for Listings Sitting a While: Homes that have been on the market since summer may have sellers more open to negotiation.

• Act Before November: Once the snowbirds arrive, expect multiple-offer situations to return—especially for well-priced and staged homes.

Fantasy Fest may be Key West’s biggest party of the year, but it’s also a hidden window of opportunity for buyers. With fewer people shopping, motivated sellers, and favorable mortgage rates, October is a sneaky-good time to make your move in paradise.

So go ahead, enjoy the parades, throw on some beads, but maybe also sneak in a property tour while you’re here. You just might find your dream home before the winter rush.