Miami real estate news and information

Key Biscayne, Florida: Home pricing THEN … and NOW

16-Island-Paradise-Federico-Carosio-IIIBack in 1951 you could buy a Mackle home on Key Biscayne with just $500.00 down …  and a pricetag of $9,540.00.  

Now,  you can’t buy a thing on the Key for even remotely close to that … not even vacant land. 

Okay, that’s not entirely true.  There are a handful of  3-4 bedroom homes listed for just over 1 million right now … but of the 87 homes currently listed for sale  56 of them are priced above the $2 million dollar mark.  Land value ranges upward of $750,000.00 just for vacant land (or knock-downs).

Of the total number of closed sales that took place within the past 12 months  only  26 homes (many of which were knock-downs or renovation projects) sold at below the $1 million mark.   The other  52 properties fetched  upward of that million dollar mark … up as high as $12,610,000.00  (and that one sale, located waterfront at  1 Harbor Point,  sold in just over a month).

If you are looking to buy or sell property on Key Biscayne, and are looking for a top agent to assist you,  we invite you to contact the Restivo Team here or by phone anytime, on either  305 793-1365 or 305 632-0164.

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