Key Biscayne Real Estate Market Overview in May 2025
Sale Market Overview
Median Sale Price: The median sale price for all bedrooms houses and condos in Key Biscayne is $4,855,302 in May 2025, averaging $1,922 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 $2,561,942, averaging $1,285 per square foot.
Properties Available for Sale: There are 185 properties for sale in Key Biscayne, of which 61 are houses and 124 are condominium units listed for sale now.
Days in the Market: Key Biscayne properties are selling after an average of 96 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 $12,284 in May 2025, averaging $6 per square foot.
Average Rent: The average rent in Key Biscayne for all bedrooms houses and condos in the last 12 months is $9,466 per month, averaging $5 per square foot.
Properties Available for Rent: There are 203 properties for rent right now in Key Biscayne, of which 34 are houses and 169 are condos.
Days in the Market: Key Biscayne properties are renting after an average of 89 days on the market.
Pros and Cons for Buying a Property in Key Biscaine in May 2025
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
227 Enid Dr #43
2 BR / 2.1 BA
1,460 SqFt
$1,320,000
$904/Sqft
05/06/2025
590 Ocean Dr #8C
2 BR / 2.0 BA
1,365 SqFt
$805,000
$590/Sqft
05/02/2025
798 Crandon Blvd #39-C
2 BR / 2.1 BA
875 SqFt
$900,000
$1,029/Sqft
05/01/2025
201 Crandon Blvd #605
1 BR / 1.0 BA
1,059 SqFt
$680,000
$642/Sqft
04/30/2025
945 Mariner Drive
6 BR / 6.0 BA
5,191 SqFt
$12,700,000
$2,447/Sqft
04/28/2025
101 Crandon Blvd #271
2 BR / 2.0 BA
1,715 SqFt
$1,340,000
$781/Sqft
04/24/2025
201 Crandon Blvd #322
2 BR / 2.0 BA
1,541 SqFt
$1,000,000
$649/Sqft
04/24/2025
360 Ocean Dr #902S
4 BR / 5.1 BA
3,354 SqFt
$8,000,000
$2,385/Sqft
04/21/2025
150 Ocean Lane Dr #10E
2 BR / 2.0 BA
1,370 SqFt
$870,000
$635/Sqft
04/21/2025
1121 Crandon Blvd #E707
3 BR / 2.0 BA
1,782 SqFt
$1,552,000
$871/Sqft
04/18/2025
151 Crandon Blvd #540
2 BR / 2.0 BA
1,532 SqFt
$900,000
$587/Sqft
04/17/2025
151 Crandon Blvd #140
2 BR / 2.0 BA
1,532 SqFt
$975,000
$636/Sqft
04/16/2025
741 Crandon Blvd #PH4
3 BR / 3.0 BA
2,470 SqFt
$2,408,000
$975/Sqft
04/15/2025
350 Ocean Dr #401N
4 BR / 6.1 BA
3,787 SqFt
$8,900,000
$2,350/Sqft
04/15/2025
345 Gulf Road
5 BR / 5.1 BA
3,827 SqFt
$5,600,000
$1,463/Sqft
04/14/2025
151 Crandon Blvd #838
2 BR / 2.0 BA
1,547 SqFt
$1,220,000
$789/Sqft
04/14/2025
181 Crandon Blvd #303
2 BR / 2.0 BA
1,715 SqFt
$1,000,000
$583/Sqft
04/11/2025
515 Warren Ln
4 BR / 3.0 BA
2,030 SqFt
$3,250,000
$1,601/Sqft
04/08/2025
Average Price: $1,601/Sqft
Rented Units (30 days)
Unit
Beds / Baths
Liv Area SqFt
Rented Price
Price/SqFt
Close Date
151 Crandon Blvd #104
2 BR / 2.0 BA
1,532 SqFt
$5,000
$3/Sqft
05/06/2025
199 Ocean Lane Dr #1200
3 BR / 2.1 BA
1,930 SqFt
$9,000
$5/Sqft
05/06/2025
325 Fernwood Rd #1
1 BR / 1.0 BA
474 SqFt
$2,600
$5/Sqft
05/06/2025
251 Crandon Blvd #108
2 BR / 2.0 BA
1,532 SqFt
$6,100
$4/Sqft
05/06/2025
251 Crandon Blvd #1022
2 BR / 2.0 BA
1,546 SqFt
$6,700
$4/Sqft
05/05/2025
575 Crandon Bl #303
1 BR / 1.1 BA
1,013 SqFt
$2,800
$3/Sqft
05/05/2025
650 Ocean Dr #9D
3 BR / 2.0 BA
1,847 SqFt
$6,500
$4/Sqft
05/05/2025
201 Greenwood Dr
4 BR / 4.0 BA
2,534 SqFt
$16,000
$6/Sqft
05/02/2025
733 Crandon Blvd #PH-5
2 BR / 2.1 BA
2,060 SqFt
$11,000
$5/Sqft
05/01/2025
50 Ocean Lane Dr #PH604
3 BR / 2.1 BA
1,730 SqFt
$7,800
$5/Sqft
05/01/2025
201 Crandon Blvd #402
2 BR / 2.0 BA
1,404 SqFt
$5,250
$4/Sqft
05/01/2025
55 Ocean Lane Dr #3028
2 BR / 2.0 BA
1,450 SqFt
$4,450
$3/Sqft
05/01/2025
445 Grand Bay Dr #1102
2 BR / 4.1 BA
2,950 SqFt
$12,500
$4/Sqft
05/01/2025
199 Ocean Ln Dr #1114
2 BR / 2.0 BA
1,350 SqFt
$5,700
$4/Sqft
04/29/2025
365 Enid Dr
4 BR / 3.0 BA
2,122 SqFt
$14,500
$7/Sqft
04/29/2025
3 BR / 3.0 BA
2,470 SqFt
$13,000
$5/Sqft
04/28/2025
325 Pacific Rd
4 BR / 5.1 BA
5,269 SqFt
$17,000
$3/Sqft
04/28/2025
1121 Crandon Bl #E1104
2 BR / 2.0 BA
1,409 SqFt
$5,000
$4/Sqft
04/25/2025
155 Ocean Lane Dr #509
2 BR / 2.0 BA
1,260 SqFt
$5,700
$5/Sqft
04/24/2025
151 Crandon Blvd #331
2 BR / 2.0 BA
1,547 SqFt
$6,600
$4/Sqft
04/22/2025
141 Crandon Blvd #133
2 BR / 2.0 BA
1,600 SqFt
$5,900
$4/Sqft
04/22/2025
701 Mashta Dr
6 BR / 7.1 BA
6,801 SqFt
$35,000
$5/Sqft
04/21/2025
199 Ocean Lane Dr #1210
4 BR / 4.0 BA
2,520 SqFt
$11,000
$4/Sqft
04/15/2025
2 BR / 2.0 BA
1,541 SqFt
$5,800
$4/Sqft
04/15/2025
210 Greenwood Drive
4 BR / 2.0 BA
2,087 SqFt
$9,500
$5/Sqft
04/14/2025
1121 Crandon Blvd #D1008
3 BR / 2.0 BA
1,782 SqFt
$8,000
$4/Sqft
04/11/2025
1121 Crandon Blvd #D106
2 BR / 2.0 BA
1,409 SqFt
$4,500
$3/Sqft
04/11/2025
Average Price: $3/Sqft
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