Key Biscayne - Market Update - Jan 2017 - June 2017
If you haven't been to Key Biscayne before, it should definitely be on your to-do list. This island is located south of Miami Beach and east of Miami and living here is like being on vacation every day. Besides the gorgeous scenery and wonderful homes, one of the nicest beaches in the world is located at Bill Baggs Cape Florida State Park. It's famous and historic lighthouse is the oldest standing structure in Miami-Dade County.
So far in 2017 thru the end of May, there has been a total of 70 condos and single family homes that have been sold in Key Biscayne. Sixty-two were condos and eight were single family homes. Cash buyers accounted for 61% of the sales. The least expensive property sold was a condo at 100 Sunrise Dr #15 for $212,900, which amounted to $415 per square foot. It was on the market for fifty-four days before a cash offer was accepted.
The most expensive property sold was a 5,207 square foot condo that sold at 791 Crandon Blvd #1508 for $7,000,000. The home was on the market for 289 days before a cash offer was accepted. The property was discounted 15% from the original asking price and closed at $1,344 per square foot. The average price per square foot sold this year in Key Biscayne is $639 and the average sale price $1,271,551.
Click on the links below to see the single-family homes and condos that have sold this year in Key Biscayne.
There are currently 411 homes for sale in Key Biscayne, 27% are single family homes and 73% are condos. Prices range from $275,000 to $40,000,000. Waterfront properties amount to 62% of the inventory and 69% of total properties available for sale are asking one million dollars or more.
Click the links below to view the homes.
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