Neighborhood Economics for Key Biscayne Condos – Quarter 1 and 2 of 2015

The Key Biscayne Condo Market in a Nutshell

Get a quick overview of the Key Biscayne Condo Market in the first half year of 2015

The Key Biscayne condo market in a nutshell – Read our quarterly report here with all the key market data to be quickly updated on the Key Biscayne condo market

Quarterly Analysis of Key Biscayne Homes

The neighborhood economics blogs are excellent to gather a pulse on the Key Biscayne condo market as we provide the market’s key indicators. This blog focuses on the last 6 months of Key Biscayne real estate data and is updated every quarter. All data are derived from the MLS South Florida

Data are given for Key Biscayne condos in the price ranges of:

$500,000 – $1M
$1M – $2M
$2M +

Summary of the Key Biscayne Condo Market– Q2 2015

Overview of Key Biscayne real estate data for the first half year of 2015. The data are provided for three price ranges.

Overview of Key Biscayne condo data for the first half year of 2015. The data are provided for three price ranges.

For Sale vs Sold Condos in Key Biscayne

The below table shows the amount of condos that sold vs the amount of condos that were listed in Key Biscayne.

How many condos were listed and how many condos sold in Key Biscayne in 2015 (first half year)?

The Months of Inventory in Key Biscayne

The ‘months of inventory’ is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.

The months of inventory for Key Biscayne condos

Rules of Thumb

Buyer’s market: more than 9 months of inventory based on closed sales
Seller’s market: less than 6 months of inventory based on closed sales
Neutral market: 6 – 9 months of inventory based on closed sales