Key Biscayne Average Condo Prices in November 2024
112 Condos for Sale
AVERAGE LIST PRICE
$2,037,223
$1,164/SqFt
161 Sold Condos
AVERAGE SOLD PRICE
$1,612,031
$987/SqFt
81 day average on market
(last 12 mo)
152 Condos for Rent
AVERAGE LIST PRICE
$10,124
$6/SqFt
302 Rented Condos
AVERAGE SOLD PRICE
$8,337
$5/SqFt
82 day average on market
(last 12 mo)
Key Biscayne Real Estate Market Overview in November 2024
Sale Market Overview
Median Sale Price: The median sale price for all bedrooms houses and condos in Key Biscayne is $4,009,923 in November 2024, averaging $1,772 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 $2,443,976, averaging $1,274 per square foot.
Properties Available for Sale: There are 156 properties for sale in Key Biscayne, of which 44 are houses and 112 are condominium units listed for sale now.
Days in the Market: Key Biscayne properties are selling after an average of 81 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 $13,495 in November 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 $9,147 per month, averaging $5 per square foot.
Properties Available for Rent: There are 189 properties for rent right now in Key Biscayne, of which 37 are houses and 152 are condos.
Days in the Market: Key Biscayne properties are renting after an average of 82 days on the market.
Pros and Cons for Buying a Property in Key Biscaine in November 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
422 Warren Ln
4 BR / 3.0 BA
N/A SqFt
$2,850,000
$-/Sqft
11/18/2024
210 Seaview Dr #603
2 BR / 2.0 BA
1,330 SqFt
$750,000
$564/Sqft
11/08/2024
1121 Crandon Blvd #E308
2 BR / 2.0 BA
1,782 SqFt
$1,160,000
$651/Sqft
11/08/2024
1111 Crandon Blvd #C307
2 BR / 2.0 BA
1,782 SqFt
$1,060,000
$595/Sqft
11/08/2024
375 Harbor Ln
5 BR / 4.1 BA
4,444 SqFt
$5,000,000
$1,125/Sqft
11/08/2024
705 Crandon Blvd #405
2 BR / 2.0 BA
1,310 SqFt
$1,270,000
$969/Sqft
11/05/2024
881 Ocean Dr #18E
3 BR / 2.0 BA
1,875 SqFt
$1,900,000
$1,013/Sqft
11/05/2024
201 Crandon Blvd #900
3 BR / 3.0 BA
2,169 SqFt
$2,550,000
$1,176/Sqft
11/04/2024
150 Ocean Lane Dr #10H
2 BR / 2.0 BA
1,335 SqFt
$745,000
$558/Sqft
11/04/2024
161 Crandon Blvd #414
2 BR / 2.0 BA
1,720 SqFt
$965,000
$561/Sqft
11/04/2024
1121 Crandon Blvd #D1207
3 BR / 2.0 BA
1,782 SqFt
$1,980,000
$1,111/Sqft
11/01/2024
613 Ocean Dr #4C
2 BR / 2.0 BA
1,496 SqFt
$1,800,000
$1,203/Sqft
11/01/2024
181 Crandon Blvd #302
3 BR / 3.0 BA
1,820 SqFt
$1,812,500
$996/Sqft
10/30/2024
230 Sunrise Dr #8
1 BR / 1.1 BA
664 SqFt
$538,500
$811/Sqft
10/30/2024
201 Crandon Blvd #305
1 BR / 1.1 BA
1,059 SqFt
$630,000
$595/Sqft
10/24/2024
151 Crandon Blvd #823
2 BR / 2.0 BA
1,778 SqFt
$1,325,000
$745/Sqft
10/24/2024
201 Crandon Blvd #323
2 BR / 2.0 BA
1,653 SqFt
$950,820
$575/Sqft
10/23/2024
Average Price: $575/Sqft
Rented Units (30 days)
Unit
Beds / Baths
Liv Area SqFt
Rented Price
Price/SqFt
Close Date
255 Sunrise Dr #308
1 BR / 1.0 BA
608 SqFt
$2,700
$4/Sqft
11/19/2024
201 Crandon Blvd #831
2 BR / 2.0 BA
1,531 SqFt
$10,000
$7/Sqft
11/19/2024
575 Crandon Blvd #407
2 BR / 2.0 BA
1,311 SqFt
$4,000
$3/Sqft
11/08/2024
55 Ocean Lane Dr #2028
2 BR / 2.0 BA
1,450 SqFt
$4,150
$3/Sqft
11/04/2024
1121 Crandon Blvd #D105
1 BR / 1.1 BA
1,209 SqFt
$4,400
$4/Sqft
11/04/2024
784 Ridgewood Rd
4 BR / 2.0 BA
1,677 SqFt
$12,000
$7/Sqft
11/02/2024
155 Ocean Lane Dr #1111
2 BR / 2.0 BA
1,260 SqFt
$5,500
$4/Sqft
11/01/2024
255 Sunrise Dr #307
1 BR / 1.0 BA
676 SqFt
$2,600
$4/Sqft
11/01/2024
55 Ocean Lane Dr #3027
1 BR / 1.0 BA
972 SqFt
$3,100
$3/Sqft
11/01/2024
798 Crandon Blvd #37-C
2 BR / 1.1 BA
875 SqFt
$4,000
$5/Sqft
11/01/2024
201 Crandon Blvd #345
3 BR / 2.1 BA
1,871 SqFt
$9,200
$5/Sqft
11/01/2024
55 Ocean Lane Dr #4020
2 BR / 2.0 BA
1,450 SqFt
$4,000
$3/Sqft
10/30/2024
765 Crandon Blvd #605
3 BR / 3.0 BA
2,602 SqFt
$12,000
$5/Sqft
10/28/2024
Average Price: $5/Sqft
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