2012 was a remarkable year for the condominium market in Key Biscayne. With no new construction available, existing buildings did very well. In total, almost $270,000,000 in condo property transactions were closed during the year.
Here is a summary of what sold:
- 281 = number of condos sold
- 77 = number of condos sold with prices in excess of $1M
- $960,594 = average condo sales price
- $469 = average sale price per square foot
- 184 = average number of Days on the Market
- 6% = average difference between the list price and the sales price.
The most expensive sale of a condo in Key Biscayne was $5,950,000 for unit 201 at Ocean Club Tower One. If you know Ocean Club, then you know that the tremendous outdoor space in this unit was part of what helped it to garner such a great price in August. Yet another example that Key Biscayne really has no “season” anymore. With residents from all over the world, it’s always winter somewhere.
As of this writing there are only 129 condos actively for sale on the Key. They range in price from $225,000 to $7,499,000.
Contact us directly for a private value analysis if you are considering selling, or for insider information on any building on the Key.
* Data extracted from the SEF MLS.
