Key Biscayne Housing Market Report May 2025•Miami-Dade County, Florida

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Housing Prices in Key Biscayne, FL

How much do homes in Key Biscayne, FL cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Key Biscayne is a Buyer's Market

Difference Since May 2024

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

Insight

Key Biscayne is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,395,000$871/SqFt
-$155,000
-10.0%

Based on all homes sold in the last 12 months

Insight

Homes in Key Biscayne have sold for 10% less than they did a year ago.

Summary: The median home sold price in Key Biscayne was $1,395,000 in May 2025, down 10% from last year, and the median price per square foot was $871.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1$585.8K$645K
+10.1%
2$1.2M$1.0M
-14.6%
3$2.3M$2.3M
+1.1%
4$3.1M$3.8M
+24.2%
5$4.3M$4.6M
+7.7%

Summary: Key Biscayne housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes increased by +10.1%. The home price for 2 bedroom homes decreased by -14.6%. The home price for 3 bedroom homes increased by +1.1%. The home price for 4 bedroom homes increased by +24.2%. The home price for 5 bedroom homes increased by +7.7%.

How does Key Biscayne, FL compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Key Biscayne, FL

Housing supply in Key Biscayne, FL

How many homes are available in Key Biscayne, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
208Last MonthMay 2025
2052 months agoApr 2025
+1.5 %
Change MoMApr – May

Summary: The Key Biscayne real estate market had 208 homes for sale in May 2025, a 1.5 % increase compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
13Last MonthMay 2025
192 months agoApr 2025
-31.6 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
11515
0.0%
28481
-3.6%
34653
+15.2%
42825
-10.7%
53234
+6.3%

Summary: Key Biscayne housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -3.6%. The inventory for 3 bedroom homes increased by +15.2%. The inventory for 4 bedroom homes decreased by -10.7%. The inventory for 5 bedroom homes increased by +6.3%.

Asking Price vs. Sold Price

How much do homes in Key Biscayne, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price12 Homes

Insight

If you're buying a home in Key Biscayne, you may be able to get a good deal. 92.3% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Key Biscayne in May 2025, down by 31.6% month-over-month. Of the 13 sold homes, 92% were sold under asking, 0% were sold at asking, and and 8% were sold over asking.

Days on Market for Key Biscayne, FL

How long does it take to sell a home in Key Biscayne, FL?

Breakdown of Home Sale Times

Under 30 Days5 Homes

30 – 90 Days2 Homes

Over 90 Days6 Homes

Insight

Most homes in Key Biscayne are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2025, 13 homes were sold in Key Biscayne; 38% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 46% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
112 DaysThis YearMay 2025
107 Days1 year agoMay 2024
+4.9 %
Change YoYMay 2024 – May 2025

Summary: Homes in Key Biscayne had an average listing age of 112 days in May 2025, up by 4.9% compared to the previous year.

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Newest Listings in Key Biscayne, FL

What homes are available in Key Biscayne, FL?

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MLS Disclaimers and Copyright

Based on information from Miami MLS, and Beaches MLS for the period 06/01/2023 - 06/01/2025

IDX © 2025 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/25/2025, 8:45:27 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXAll listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2025 BeachesMLS, Inc.

This information is not verified for authenticity or accuracy and is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/25/2025, 8:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.