Neighborhood Economics for Key Biscayne Condos – Quarter 1 2015

The Key Biscayne Condo Market in a Nutshell

Get a quick overview of the Key Biscayne Condo Market

The quarter 2, 2015 update

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

The 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 3 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– Q1 2015

The Key Biscayne Condo Inventory has decreased in Q1 of 2015. Across all the price ranges, either more condos were sold or less condos were on the market for sale. Under the $2M mark, Key Biscayne condos are experiencing a sellers market, while Key Biscayne’s luxury condo market (and its largest) is experiencing a buyers market. The average sales prices per Sq.Ft stayed relatively stable with a slight increase in Key Biscayne condos of $1M – $2M and a slight decrease in prices of $2M+ condos

Stayed tuned during the next quarters to see whether the above finding are new trends!

For Sale vs Sold Condos in Key Biscayne

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

Key Biscayne Condo Market of $1M – $2M

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Key Biscayne Condo Market of $2M+

The Months of Inventory in Key Biscayne

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

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

Key Biscayne Condo Market of $1M – $2M

click to enlarge