$5,392,000
2,821 SqFt
5 Beds
•4 Full Baths
Barbara Lamar PA, Listing Office: One Sotheby's International Realty
Is Key Biscayne, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Key Biscayne was a Seller's Market.
Key Takeaway
Key Biscayne is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Key Biscayne, FL
How much do homes in Key Biscayne, FL cost?
Median Sold Price
$1,505,000
$900/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$110,000(+7.9%)
Key Takeaway
Homes in Key Biscayne have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Key Biscayne was $1,505,000 in October 2024, up 7.9% from last year, and the median price per square foot was $900.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $549.5K | $562.6K | +2.4% |
| 2 Bedrooms | $1.1M | $1.1M | +3.6% |
| 3 Bedrooms | $2.5M | $2.4M | -4.0% |
| 4 Bedrooms | $3.1M | $4.0M | +29.0% |
| 5+ Bedrooms | $6.3M | $4.3M | -32.4% |
Summary: Key Biscayne housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 29%, and 5+ bedroom homes decreased by 32.4%.
Housing Supply in Key Biscayne, FL
How many homes are available in Key Biscayne, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 150 | 183 | +22.0% |
Summary: The Key Biscayne real estate market had 183 homes for sale in October 2024, a 22.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 67 | 90 | +34.3% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 22 | 25 | +13.6% |
Summary: The Key Biscayne housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 34.3%, 3 bedroom homes increased by 18.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Key Biscayne, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Key Biscayne in October 2024, up by 9.1% month-over-month. Of the 12 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Key Biscayne, FL
How long does it take to sell a home in Key Biscayne, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 101 Days | 93 Days | -8.5% |
Summary: Homes in Key Biscayne had an average of 93 days on market in Oct 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Key Biscayne are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 12 homes were sold in Key Biscayne; 33% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 58% of homes were sold over 90 days.
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