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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!

Single Family Home Values Rise By 9% In 2015 On Key Biscayne

October 16th, 2015 Written By

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Although the number of single family home sales has dropped slightly on Key Biscayne this year, the average "sale price per square foot" has risen by 9% ($876 in 2014 to $957 in 2015). So far in 2015, there have been 9 waterfront home sales which closed at an average sale price $6,656,000 and there have been 40 non-waterfront home sales which closed at an average sale price $2,614,000. The highest sale price on Key Biscayne to date is $10,550,000 while the...Continue Reading!

2015 First Quarter Update | Highest Sale Price

March 31st, 2015 Written By

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There have been 13 single family homes sold on Key Biscayne during the first quarter of 2015. While the average home closed for $3,500,000, the highest sale price came in at $9,100,000 for the waterfront home located at 750 South Mashta Drive.  This one of a kind modern home offered 6,011 square feet of living space on a 11,280 square foot lot with 7 bedrooms, 5.5 bathrooms and a 20 foot dock. The property was listed by Fortune. Below is a...Continue Reading!

Ritz Carlton Consistently Sells For More Than $1,000/Sq. Ft.

March 17th, 2015 Written By

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The Ritz Carlton condos on Key Biscayne are a great opportunity to live full-time or part-time and have access to the five-star amenities of the Ritz Carlton hotel.  The Ritz Carlton Key Biscayne is located on 12 acres of direct beachfront property and offers a 24 hour concierge, manned guard gate, pools, tennis courts, gym and secured covered parking.  It is a 12 story resort style condo with 188 luxury units. Condos at the Ritz Carlton are selling for upwards of...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!

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!

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!

Great Opportunity At Grand Bay Towers!

January 4th, 2014 Written By

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A great opportunity has hit the market at Grand Bay Towers.  As you may or may not know, large 2 bedroom condos are hard to come by not only on Key Biscayne but in all of Miami.  Unit 401 at the Grand Bay Towers offers 2,460 square feet of living space with 2 bedrooms + den and 3.5 bathrooms with an expansive terrace and tree-top views.  The unit is listed at $716.00/sq. ft. which is considerably below the price of...Continue Reading!

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