Key Biscayne Real Estate Market Overview in January 2025
Sale Market Overview
Median Sale Price: The median sale price for all bedrooms houses and condos in Key Biscayne is $4,275,140 in January 2025, averaging $1,769 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 $2,499,152, averaging $1,329 per square foot.
Properties Available for Sale: There are 149 properties for sale in Key Biscayne, of which 41 are houses and 108 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 $12,932 in January 2025, 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 $9,213 per month, averaging $6 per square foot.
Properties Available for Rent: There are 161 properties for rent right now in Key Biscayne, of which 32 are houses and 129 are condos.
Days in the Market: Key Biscayne properties are renting after an average of 86 days on the market.
Pros and Cons for Buying a Property in Key Biscaine in January 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
360 Ocean Dr #LPH2S
4 BR / 6.1 BA
4,762 SqFt
$15,200,000
$3,192/Sqft
01/17/2025
719 Crandon Blvd #410
2 BR / 2.0 BA
1,700 SqFt
$1,500,000
$882/Sqft
01/14/2025
455 Grand Bay Dr #820
0 BR / 1.0 BA
376 SqFt
$700,000
$1,862/Sqft
01/13/2025
201 Galen Dr #210
2 BR / 2.0 BA
1,187 SqFt
$580,000
$489/Sqft
01/10/2025
77 Crandon Blvd #9E
2 BR / 2.0 BA
1,123 SqFt
$790,000
$703/Sqft
01/10/2025
881 Ocean Dr #6G
2 BR / 2.0 BA
1,875 SqFt
$1,570,000
$837/Sqft
01/10/2025
151 Crandon Blvd #1031
2 BR / 2.0 BA
1,547 SqFt
$1,175,000
$760/Sqft
01/06/2025
350 Ocean Dr #1206N
3 BR / 4.1 BA
2,257 SqFt
$5,850,000
$2,592/Sqft
01/06/2025
1111 Crandon Blvd #A205
2 BR / 2.0 BA
1,409 SqFt
$766,000
$544/Sqft
12/31/2024
599 Glenridge Rd
4 BR / 4.0 BA
2,111 SqFt
$2,982,750
$1,413/Sqft
12/27/2024
Average Price: $1,413/Sqft
Rented Units (30 days)
Unit
Beds / Baths
Liv Area SqFt
Rented Price
Price/SqFt
Close Date
1111 Crandon Blvd #A507
2 BR / 2.0 BA
1,782 SqFt
$7,000
$4/Sqft
01/20/2025
151 Crandon Blvd #405
2 BR / 2.0 BA
1,821 SqFt
$6,500
$4/Sqft
01/19/2025
155 Ocean Lane Dr #115B
0 BR / 1.0 BA
308 SqFt
$2,650
$9/Sqft
01/17/2025
151 Crandon Blvd #1036
2 BR / 2.0 BA
1,532 SqFt
$6,000
$4/Sqft
01/16/2025
101 Crandon Blvd #474
2 BR / 2.0 BA
1,600 SqFt
$6,800
$4/Sqft
01/16/2025
1111 Crandon Bl #B1003
2 BR / 2.0 BA
1,409 SqFt
$5,650
$4/Sqft
01/16/2025
141 Crandon Blvd #344
3 BR / 2.0 BA
1,720 SqFt
$7,000
$4/Sqft
01/14/2025
201 Crandon Blvd #641
2 BR / 2.0 BA
1,531 SqFt
$5,250
$3/Sqft
01/14/2025
201 Crandon Blvd #341
2 BR / 2.0 BA
1,531 SqFt
$5,600
$4/Sqft
01/13/2025
199 Ocean Lane Dr #811
2 BR / 2.0 BA
1,260 SqFt
$5,300
$4/Sqft
01/13/2025
77 Crandon Blvd #10C
2 BR / 2.0 BA
1,105 SqFt
$4,500
$4/Sqft
01/13/2025
3 BR / 4.1 BA
2,500 SqFt
$9,000
$4/Sqft
01/13/2025
201 Crandon Blvd #802
2 BR / 2.0 BA
1,404 SqFt
$6,500
$5/Sqft
01/13/2025
881 Ocean Dr #TH31
2 BR / 2.0 BA
1,042 SqFt
$5,800
$6/Sqft
01/12/2025
141 Crandon Blvd #239
2 BR / 2.0 BA
1,600 SqFt
$7,300
$5/Sqft
01/10/2025
717 Crandon Blvd #408
2 BR / 2.0 BA
1,450 SqFt
$7,800
$5/Sqft
01/10/2025
881 Ocean Dr #19C
2 BR / 2.0 BA
1,875 SqFt
$8,000
$4/Sqft
01/09/2025
2 BR / 2.0 BA
1,532 SqFt
$5,800
$4/Sqft
01/07/2025
195 Sunrise Dr #9
1 BR / 1.0 BA
689 SqFt
$2,800
$4/Sqft
01/06/2025
650 Ocean Dr #4C
3 BR / 3.0 BA
2,162 SqFt
$7,300
$3/Sqft
01/06/2025
251 Crandon Blvd #1028
2 BR / 2.0 BA
1,532 SqFt
$9,000
$6/Sqft
01/06/2025
1121 Crandon Blvd #D804
2 BR / 2.0 BA
1,409 SqFt
$5,600
$4/Sqft
01/05/2025
609 Ocean Drive #6H
2 BR / 2.0 BA
1,496 SqFt
$7,850
$5/Sqft
01/05/2025
799 Crandon Blvd #607
3 BR / 2.1 BA
2,510 SqFt
$21,500
$9/Sqft
01/03/2025
251 Crandon Blvd #920
2 BR / 2.0 BA
1,485 SqFt
$8,600
$6/Sqft
01/02/2025
881 Ocean Dr #18B
2 BR / 2.0 BA
1,875 SqFt
$8,500
$5/Sqft
01/01/2025
600 Grapetree Dr #4DN
3 BR / 2.0 BA
1,889 SqFt
$9,000
$5/Sqft
01/01/2025
50 Ocean Lane Dr #405
3 BR / 2.1 BA
1,730 SqFt
$7,900
$5/Sqft
01/01/2025
251 Crandon Blvd #306
2 BR / 2.0 BA
1,546 SqFt
$9,500
$6/Sqft
12/31/2024
201 Crandon Blvd #1002
3 BR / 3.0 BA
2,323 SqFt
$15,500
$7/Sqft
12/27/2024
350 Ocean Dr #904N
2 BR / 3.1 BA
1,703 SqFt
$21,250
$12/Sqft
12/27/2024
210 Sea View Dr #409
2 BR / 2.0 BA
1,330 SqFt
$4,000
$3/Sqft
12/27/2024
155 Ocean Lane Drive #411
2 BR / 2.0 BA
1,260 SqFt
$5,500
$4/Sqft
12/26/2024
200 Sunrise Dr #200C
4 BR / 4.0 BA
1,700 SqFt
$10,000
$6/Sqft
12/26/2024
Average Price: $6/Sqft
Get In Touch With Your Key Biscayne Realty Expert
Reach out today for personalized, professional assistance tailored to meet your real estate needs in this beautiful island paradise. We speak English, Spanish and Portuguese.
Thank you! Your submission has been received! An advisor will get in touch as soon as possible.
Oops! Something went wrong while submitting the form ;( Please try again.
