Is Key Biscayne, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Key Biscayne is a neutral's market

Buyer's
Market

Difference Since June 2021

At the same time last year, Key Biscayne was a Seller's Market.

Key Takeaway

Key Biscayne is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Key Biscayne, FL cost?

Median Sold Price

$1,551,666

$812/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$382,966(+32.8%)

Key Takeaway

Homes in Key Biscayne have sold for 32.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $375K$447.5K
+19.3%
2 $800K$995K
+24.4%
3 $1.6M$2.0M
+26.6%
4 $2.2M$3.0M
+36.4%
5+ $3.2M$4.0M
+24.9%

How many homes are available in Key Biscayne, FL?

Number of Homes For Sale

May 2022Jun 2022%
148145-2.0%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 910
+11.1%
2 5861
+5.2%
3 4038
-5.0%
4 2120
-4.8%
5+ 2016
-20.0%

Number of Homes Sold

May 2022Jun 2022%
3123-25.8%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Key Biscayne, you may be able to get a good deal. 82.6% of homes here sold below asking price last month.

Average Sale Time

Jun 2021Jun 2022%
104 Days116 Days+11.0%

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Key Biscayne has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Key Biscayne, FL

Key Biscayne, FL has 145 homes for sale to choose from. In June 2022 in Key Biscayne, FL there were 2% less homes for sale than in May 2022. In June 2022, listings were on the market for 116 days. During the same period, the median list price in this real estate market was $1,551,666. This housing market listing prices have changed between May 2022 and June 2022: 1 bedroom properties prices increased by 19.3%, prices of 2 bedrooms properties increased by 24.4%, 3 bedrooms properties became 26.6% more expensive, prices of 4 bedrooms properties increased by 36.4%, prices of 5 bedrooms properties went up by 24.9%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes increased by 11.1%, 2 bedrooms homes inventory increased by 5.2%, the quantity of 3 bedrooms homes went down by 5%, volume of 4 bedrooms homes went down by 4.8%, volume of 5 bedrooms homes went down by 20%. Key Biscayne, FL housing market in June 2022 saw over 2 listings sold above listed price, more than 2 sold at listed price and over 19 sold below.