Key Biscayne Average Condo Prices in December 2024
101 Condos for Sale
AVERAGE LIST PRICE
$2,131,405
$1,186/SqFt
160 Sold Condos
AVERAGE SOLD PRICE
$1,557,547
$972/SqFt
78 day average on market
(last 12 mo)
134 Condos for Rent
AVERAGE LIST PRICE
$9,364
$6/SqFt
305 Rented Condos
AVERAGE SOLD PRICE
$8,289
$5/SqFt
88 day average on market
(last 12 mo)
Key Biscayne Real Estate Market Overview in December 2024
Sale Market Overview
Median Sale Price: The median sale price for all bedrooms houses and condos in Key Biscayne is $4,249,212 in December 2024, averaging $1,779 per square foot.
Median Sold Price: The median sold price for all bedrooms houses and condos in Key Biscayne in the last 12 months is $2,447,991, averaging $1,297 per square foot.
Properties Available for Sale: There are 141 properties for sale in Key Biscayne, of which 40 are houses and 101 are condominium units listed for sale now.
Days in the Market: Key Biscayne properties are selling after an average of 77 days on the market.
Rental Market Overview
Median List Price for Rent: The median rental price for all bedrooms houses and condos in Key Biscayne is $13,294 in December 2024, averaging $7 per square foot.
Average Rent: The average rent in Key Biscayne for all bedrooms houses and condos in the last 12 months is $9,171 per month, averaging $5 per square foot.
Properties Available for Rent: There are 169 properties for rent right now in Key Biscayne, of which 35 are houses and 134 are condos.
Days in the Market: Key Biscayne properties are renting after an average of 87 days on the market.
Pros and Cons for Buying a Property in Key Biscaine in December 2024
Pros of Buying a Property in Key Biscayne
Exclusive Location: With a limited number of properties on an exclusive island, buyers invest in a unique and prestigious location.
Long-term Value: Despite current market fluctuations, the long-term value of properties in Key Biscayne has traditionally been strong due to its desirability and limited supply.
Strong Rental Market: The rental market in Key Biscayne is robust, with high median rents that can yield significant returns for property owners.
Wealthy Demographics: With a per capita income of $79,743, which is wealthy relative to Florida and the nation, the demographics of Key Biscayne support a high-end rental and sales market​​.
Cons of Buying a Property in Key Biscayne
High Entry Price: The cost of entry into the Key Biscayne market is steep, making it challenging for average buyers.
Market Volatility: Like any upscale market, Key Biscayne can experience significant price fluctuations, which may impact short-term investments.
High Cost of Living: The cost of living in Key Biscayne is significantly higher than the national average, with utility, groceries, and transportation costs all above average due to its island location.
Sold Units (30 days)
Unit
Beds / Baths
Liv Area SqFt
Sold Price
Price/SqFt
Close Date
151 Crandon Blvd #526
2 BR / 2.0 BA
1,532 SqFt
$900,000
$587/Sqft
12/20/2024
4 Harbor Point
7 BR / 7.0 BA
3,890 SqFt
$13,950,000
$3,586/Sqft
12/13/2024
116 Mashta Dr
6 BR / 6.0 BA
3,628 SqFt
$4,350,000
$1,199/Sqft
12/12/2024
201 Crandon Blvd #506
2 BR / 2.0 BA
1,541 SqFt
$1,050,000
$681/Sqft
12/10/2024
791 Crandon Blvd #704
3 BR / 3.0 BA
2,510 SqFt
$3,200,000
$1,275/Sqft
12/10/2024
201 Crandon Blvd #641
2 BR / 2.0 BA
1,531 SqFt
$1,390,000
$908/Sqft
12/09/2024
201 Crandon Blvd #209
2 BR / 2.0 BA
1,531 SqFt
$1,000,000
$653/Sqft
12/09/2024
140 Mashta Dr
4 BR / 3.1 BA
2,861 SqFt
$3,150,000
$1,101/Sqft
12/05/2024
255 Galen Dr #3L
2 BR / 2.0 BA
1,036 SqFt
$637,000
$615/Sqft
11/25/2024
Average Price: $615/Sqft
Rented Units (30 days)
Unit
Beds / Baths
Liv Area SqFt
Rented Price
Price/SqFt
Close Date
785 Crandon Bl #1404
3 BR / 4.1 BA
2,500 SqFt
$18,000
$7/Sqft
12/20/2024
3 BR / 2.0 BA
1,734 SqFt
$5,500
$3/Sqft
12/20/2024
789 Crandon Blvd #405
2 BR / 2.1 BA
2,100 SqFt
$9,000
$4/Sqft
12/19/2024
251 Crandon Blvd #408
2 BR / 2.0 BA
1,532 SqFt
$8,000
$5/Sqft
12/17/2024
155 Ocean Lane Dr #404
2 BR / 2.0 BA
1,260 SqFt
$6,500
$5/Sqft
12/16/2024
430 Grand Bay Dr #1204
3 BR / 4.1 BA
3,680 SqFt
$20,000
$5/Sqft
12/16/2024
1111 Crandon Blvd #B606
2 BR / 2.0 BA
1,409 SqFt
$5,000
$4/Sqft
12/13/2024
3 BR / 2.0 BA
1,860 SqFt
$6,700
$4/Sqft
12/13/2024
555 Crandon Blvd #51
2 BR / 2.0 BA
1,090 SqFt
$3,650
$3/Sqft
12/12/2024
881 Ocean Dr #25E
2 BR / 2.0 BA
1,875 SqFt
$8,500
$5/Sqft
12/12/2024
141 Crandon Blvd #247
3 BR / 2.0 BA
1,900 SqFt
$6,500
$3/Sqft
12/10/2024
151 Crandon Blvd #122
2 BR / 2.0 BA
1,467 SqFt
$7,000
$5/Sqft
12/10/2024
301 Sunrise Dr #2BW
2 BR / 2.0 BA
1,015 SqFt
$3,750
$4/Sqft
12/09/2024
260 Sunrise Dr #C
1 BR / 1.0 BA
740 SqFt
$2,600
$4/Sqft
12/09/2024
181 Crandon Blvd #204
3 BR / 2.0 BA
1,720 SqFt
$6,150
$4/Sqft
12/06/2024
290 Sunrise Dr #3C-#303
2 BR / 1.0 BA
869 SqFt
$3,225
$4/Sqft
12/06/2024
170 Ocean Lane Dr #610
2 BR / 2.0 BA
1,335 SqFt
$5,000
$4/Sqft
12/06/2024
155 Ocean Lane Dr #503
1 BR / 1.1 BA
895 SqFt
$3,700
$4/Sqft
12/06/2024
881 Ocean Dr #8A
3 BR / 3.0 BA
3,120 SqFt
$12,700
$4/Sqft
12/05/2024
3 BR / 4.1 BA
2,500 SqFt
$12,200
$5/Sqft
12/04/2024
300 Galen Dr #305
2 BR / 1.0 BA
1,068 SqFt
$3,600
$3/Sqft
12/04/2024
177 Ocean Lane Dr #1009
2 BR / 2.0 BA
1,260 SqFt
$8,000
$6/Sqft
12/03/2024
445 Grand Bay Drive #605
3 BR / 3.1 BA
3,320 SqFt
$18,000
$5/Sqft
12/02/2024
200- Harbor Dr
4 BR / 4.0 BA
2,566 SqFt
$30,000
$12/Sqft
12/02/2024
55 Ocean Lane Dr #1028
2 BR / 2.0 BA
1,450 SqFt
$6,500
$4/Sqft
12/01/2024
199 Ocean Lane Dr #1208
2 BR / 2.0 BA
1,260 SqFt
$6,300
$5/Sqft
12/01/2024
121 Crandon Blvd #459
3 BR / 2.0 BA
1,820 SqFt
$6,500
$4/Sqft
12/01/2024
181 Crandon Blvd #301
3 BR / 2.1 BA
1,820 SqFt
$6,700
$4/Sqft
12/01/2024
150 Ocean Lane Dr #5A
2 BR / 2.0 BA
1,370 SqFt
$3,825
$3/Sqft
12/01/2024
789 Crandon Blvd #502
2 BR / 2.1 BA
2,100 SqFt
$55,000
$26/Sqft
12/01/2024
881 Ocean Dr #12D
2 BR / 2.0 BA
1,875 SqFt
$5,600
$3/Sqft
11/26/2024
251 Crandon Blvd #227
3 BR / 2.0 BA
1,546 SqFt
$8,500
$6/Sqft
11/26/2024
330 Redwood Ln
4 BR / 3.0 BA
1,754 SqFt
$6,900
$4/Sqft
11/25/2024
1121 Crandon Blvd #E702
3 BR / 2.0 BA
1,782 SqFt
$10,500
$6/Sqft
11/22/2024
Average Price: $6/Sqft
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