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 family homes sold coming in at an average of $816.00/sq. ft. (2013 had just 8 homes sold at an average of $668/sq. ft. during the same time period).
Condos and Townhouses On Key Biscayne
There have been 24 condos and townhouses sold in 2014. They have closed at an average of $571.00 per square foot. During the same time period of 2013, there were 34 condos sold which closed at an average of $500.00/sq. ft.
All in all I would say that this is very positive news for Key Biscayne, and I feel the market will only get stronger in the coming months. All eyes are on Miami real estate right now, and Key Biscayne is home to some of the best properties in the city.
If you are curious about the value of your Key Biscayne home in today’s changing market or would like to set up a buyer consultation, please feel free to contact me at 305-766-7666 or provide your information on our contact page and we will get back to you shortly.
