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They keys were probably taken from her after she was killed, the apartment had to be cleaned out of any evidence that Chandra knew Condit. So the apartment was cleaned out, but the watch was not found (this is why he dumped the watch box later), she may have been wearing it under her sweatshirt sleeve and it may have fell off without her killer or killers know it during her struggle with them. (let's hope the cops found it on the slope in the area with her remains and they are getting a positive trace on it right now, but just because she may have had it on her body that day does not prove that Condit killed her, but it sure does not look good for him, since he was caught disposing of the watch box.)
After she was killed, they entered the apartment and wiped it clean and removed what they could find linking Condit to her, the watch was never located I bet.

Her keys are probably at the bottom of Potomac. Besides... they really would not need her apartment keys as all Apartments and locks have a generic master key that will fit all the locks of certain brand name and style, most locksmiths can verify this. MasterKey sets are easy to get. It has been noted many times and verified that her apartment was so clean and fingerprint free that it looked like someone wiped the place down. But they could not find a proof of forced entry and the lobby tapes were recorded over by time they decided to check them. They entered her apartment by using Chandra's Keys or by using a MasterKey Set.

"If there was not a robbery involved; What happened to the watch and bracelet Condit gave Levy? Where were the mementoes most girls would keep from a relationship of this type?"

Maybe the killer took these items. That might deliberately eliminate hard evidence of the relationship, making it just hearsay or rumor.