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Strong Dollar Hurts Key Biscayne Real Estate Market

November 11th, 2016 Written By

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Key Biscayne's real estate market relies heavily on international buyers and investors. The strong dollar during 2016 has significantly impacted the number of sales as well as property values this year. Take a look at the charts below for single-family homes and condos. You can see that there will be far fewer sales in both segments of the market as well as lower overall prices. Key Biscayne Single-Family Home Data: Key Biscayne Condo Data: If you are interested in working with Realtors who...Continue Reading!

Real Estate On Key Biscayne Hits The Brakes

April 21st, 2016 Written By

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I am known for "telling it like it is" in the real estate business, and when the market isn't performing well I have no problem saying it. Thanks to the strong dollar and fewer international buyers this year, real estate on Key Biscayne has hit the brakes. Sales in both the single-family home market and the condo market have dropped by more than 50% in 2016 compared to the same time last year. There is good news however! We haven't...Continue Reading!

Key Biscayne Real Estate | 2014 Year In Review

January 23rd, 2015 Written By

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It was a great year for real estate on Key Biscayne in 2014.  Overall, values increased in both the single family home market as well as the condo market.  There were a total of 299 transactions amounting to $477,160,043 in volume (compared to the previous year with 327 sales and $433,705,000 in volume).  There were 10 waterfront homes sold during 2014. New to the Key Biscayne real estate market this year were the condo sales at Oceana, Key Biscayne's newest luxury...Continue Reading!

Values On Key Biscayne Continue To Rise For Single Family Homes

October 29th, 2014 Written By

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The real estate market on Key Biscayne is on fire this year.  With so much demand for homes, prices have reached an all-time high for the island.  Homes in 2014 are selling at an average sale price per square foot of $885.00.  In 2010 the average sale price per square foot was just $576.00. We have also had more ultra-luxury home sales in 2014 than ever before.  There have been 23 homes which closed over $3,000,000 in 2014 and there are 6 currently...Continue Reading!

Significant Sale | 240 Harbor Drive Sells For $9,170,000

June 17th, 2014 Written By

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The spectacular waterfront home located at 240 Harbor Drive on Key Biscayne closed recently for a sale price of $9,170,000.  This home had been on and off the market for the past 3 years.  It started at a list price of $8,800,000 back in 2011, then it was taken off the market, only to come back on the MLS at a list price of $10,270,000 a year later.  At the time it went under contract it was listed for $10,470,000....Continue Reading!

Mashta Island On Key Biscayne | 3 Homes Already Sold In 2014

April 3rd, 2014 Written By

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Mashta Island is one of the most prestigious locations on Key Biscayne.  Homes on Mashta Island have some of the best views that you can find anywhere in Miami.  The western side of the island offers direct Bayfront views and the eastern side of the island offers views of Key Biscayne's coveted Hurricane Harbor. There have already been 3 homes sold in 2014 representing a total volume of $23,150,000.  Homes on Mashta Island sell for a premium.  This year, homes traded...Continue Reading!

Key Biscayne Real Estate Market Update

February 28th, 2014 Written By

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As the first two months of 2014 come to an end, I am excited to report that the number of home sales on Key Biscayne are up significantly from the same time period during 2013.  That is not the only good news, values have also increased dramatically for single family homes.  In the condo market, we have seen the number of sales decline but values rise. Single Family Homes On Key Biscayne So far during 2014 Key Biscayne has had 15 single...Continue Reading!

It Is A Seller’s Market! | Home Sells $106,000 Above Asking On Key Biscayne

February 21st, 2014 Written By

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If you are a home buyer on Key Biscayne (or anywhere in Miami for that matter), you are very aware that the market is tipped in the seller's favor.  The combination of low inventory and rising values is causing a frenzy over every new property that hits the market. The perfect example of this scenario is 211 Greenwood Drive on Key Biscayne.  This home came on the market January 10th of this year at a list price of $1,499,000.  The home...Continue Reading!

Key Biscayne Real Estate: 2013 Year In Review

January 29th, 2014 Written By

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It was an interesting year for real estate on Key Biscayne.  Overall, the number of condos and single family home sales were down from the previous year.  This was due to the fact that inventory levels were very low during 2013, fewer properties on the market results in fewer sales.  The good news is that values were up across the board.  Homes on Key Biscayne increased in value from $752.00/sq. ft. in 2012 to $862.00/sq. ft. in 2013.  And condos...Continue Reading!

Featured Key Biscayne Street | Fernwood Road

December 5th, 2013 Written By

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I'm sure you know that real estate is about LOCATION!  Today I would like to highlight Fernwood Road which runs parallel to Crandon Boulevard in the center of Key Biscayne. Fernwood Road is appealing to many buyers, especially those with kids because it is located just steps from The Village Green (the best & safest park in South Florida – in my opinion), the Key Biscayne Community Center, and several small shopping centers.  Life couldn't be more comfortable or convenient when...Continue Reading!

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