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Key Biscayne Real Estate: 2013 Year In Review

January 29th, 2014 Written By Dominique Duque

Key Biscayne Home Sold

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 on Key Biscayne increased in value from $469.00/sq. ft. to $555.00/sq. ft.  We should see a rise in the number of homes and condos for sale in 2014 because property owners will want to take advantage of the increase in values.

Below are a few interesting numbers from the real estate market during 2013:

  • A total of 56 single family homes sold this year on Key Biscayne.
  • Average sale price: $2,550,768
  • Average list price: $2,761,732
  • More than 50% were priced over $2,000,000
  • Lowest Sale Price/Sq. Ft.: 761 Ridgewood Road which sold for $487/sq ft. (The buyer of this spacious 4 bedroom home got a great deal!)
  • Highest Sale Price/Sq. Ft.: 830 Harbor Drive which sold for $1,591/ sq ft.  3 bedroom /3 bathroom on a 14,719 sq ft waterfront property.
  • Highest Activity: The month of June had the most number of closings (11 sales).

We know the Key Biscayne real estate market and track the sales so that our clients make informed, knowledgeable decisions.  If you are interested in setting up a buyer or seller consultation, please contact us here.

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