Episode 3 · Transaction Data, Bidding Wars & ValuationsUpdated 2026
Key Biscayne Housing Market: Prices, Days to Contract
Key Biscayne trades as two markets in one, with condos making up most sales and houses closing at roughly three times a condo's price. This page shows what each type sells for, how close to the asking price it closes, how fast it goes under contract, and how many homes are for sale now.
Median sale price
$1,605,000
+17.2% vs the prior 52 weeks
All homes, 52 weeks to 23 September 2026, n = 231
Median days to contract
68 days
-16 days vs the prior 52 weeks
From listing to contract, not to closing, all homes, 52 weeks to 23 September 2026, n = 168
Sale vs. original ask
93.5% of the original ask
+1.5 pts vs the prior 52 weeks
Median of each sale price as a share of its original asking price, all homes, 52 weeks to 23 September 2026, n = 228
Homes for sale now
147
162 a year earlier
All homes for sale, weekly count for the week of 20 September 2026
💡 Key Insights & Takeaways
- The median condo closed at $1,330,000 across 57 closings from June 23 to September 23, 2026, and the median house at $5,000,000 across 13, a directional sample.
- Cash buyers made up 67.5% of the 449 closings in the two years to September 23, 2026, and 71.8% of the 71 closings in the last three months.
- Across the two years to September 23, 2026, 86.2% of closings finished under the original asking price, at a median 8.3% under it.
- Among houses sold over the two years, the 13 with the waterfront code closed at a median $14,000,000 against $3,575,000 for interior houses, but they were also larger homes on larger lots.
- On September 20, 2026, 147 homes were for sale and 23 more were under contract, against 162 for sale a year earlier.
If you are deciding how fast to move on a Key Biscayne condo, one figure sets the pace: the median condo went under contract 41 days after listing in the three months to September 23, 2026, against 70 across the two years to that date. Most still closed below their original ask, 71.9% of them.
At a glance
These are the headline figures for Key Biscayne as of September 23, 2026. About four in five sales here are condominiums, which we call condos below, so every price on this page carries its property type.
| Measure | Value | Basis |
|---|---|---|
| Median days from listing to under contract, condos | 41 days | 41 condo sales with a contract date before closing, June 23 to September 23, 2026 |
| Median closing price, condos | $1,330,000 | 57 condo closings, June 23 to September 23, 2026 |
| Median closing price, houses | $5,000,000 | 13 house closings, same window, directional |
| Share of condos closing below the original ask | 71.9% | 57 condo closings, same window |
| Homes for sale now | 147 | Live count on September 20, 2026, with 23 more under contract |
What is selling on Key Biscayne, and how often?
Key Biscayne recorded 71 closings in the three months to September 23, 2026, a pace of 23.7 a month against 18.7 a month across the two years to that date. Condos made up 80.3% of those recent closings and 78.0% of the two-year total, and houses made up 18.3% and 18.0%. A house here closes at roughly three times a condo's price, so a single median for all homes mostly measures the mix, and this page gives the two types separately.
The listing data holds 1,710 listing attempts across 1,558 separate homes in the village. A listing attempt is one unbroken run of a home on the market, from the day it is listed to the day it closes or comes off. Set against the count of residential parcels in the assessment data, about 3.1% of Key Biscayne's homes change hands in a year. That is a thin trading slice, so a single quarter carries real weight, and every figure here shows the number of sales behind it.
What do Key Biscayne condos and houses sell for?
The median condo closed at $1,330,000 in the Recent Window, which runs from June 23 to September 23, 2026, across 57 closings. That sits close to the two-year median of $1,275,000. The median condo price per square foot, which is the closing price divided by the living area, was $838 against $846 over two years. Within the last three months the condo price level held still, and what changed was how close to the ask units sold.
Houses are a thinner and more mixed sample. The 13 house closings in the Recent Window had a median of $5,000,000 and $1,644 a square foot, against $4,100,000 and $1,148 across 81 house closings over two years. Thirteen sales is a directional sample, and 4 of those 13 carried the waterfront code against 16.0% of houses in the two-year window, so the recent house figures rise with which houses sold, not only with price.
This table shows median closing prices on Key Biscayne by property type, as of September 23, 2026.
| Measure | Recent Window, June 23 to September 23, 2026 | Two years, September 23, 2024 to September 23, 2026 |
|---|---|---|
| Condo median closing price | $1,330,000 (57 closings) | $1,275,000 (350 closings) |
| Condo median price per square foot | $838 (51 closings) | $846 (315 closings) |
| House median closing price | $5,000,000 (13 closings, directional) | $4,100,000 (81 closings) |
| House median price per square foot | $1,644 (13 closings, directional) | $1,148 (75 closings) |
| All property types, about 80% condos | $1,521,000 (71 closings) | N/A — not published for this window |
Over the longer view, condo prices moved. Across the trailing fifty-two weeks to September 23, 2026 the median condo sale was $1,390,000 against $1,200,000 in the fifty-two weeks before, up 15.8%, and the median condo price per square foot was $900 against $780, up 15.4%, across 188 closings in the latest fifty-two weeks. The two measures moved together and unit size barely changed, so that is a price move rather than a change in what sold. For houses the median sale rose 30.1% while the price per square foot rose 11.0%, across 40 closings, and houses asking $5 million or more went from 34.1% of house closings to 47.5%. Most of the house rise is a change in which houses sold. All of this looks backward.
Across the homes that sold, and among houses only, the 13 carrying the waterfront code closed at a median $14,000,000 against $3,575,000 for 67 interior houses over the two years, and at $2,151 a square foot against $1,126. They also took longer to reach a contract, a median 111 days against 76, on 11 waterfront sales with a contract date before closing. Thirteen sales is a directional sample. The waterfront houses that sold were bigger, at a median 6,219 square feet against 3,313, on lots of 18,300 square feet against 7,652, so the gap travels with size and land and is not the value of the water. Condo listings carry no water code, so none of this describes condos.
Two more figures round out the price picture. Where the same home closed twice, the median move was 6.5% a year across 52 like-for-like pairs. Condo association fees on listed units ran a median $1,500 a month across 1,147 listings, and that figure covers listed units only, not every condo on the island.
Do Key Biscayne homes sell above or below asking?
Most sell below it. Across the two years to September 23, 2026, 86.2% of closings finished under the original asking price, at a median 8.3% under it, and that pooled figure is about 80% condos. The recent change is on the condo side, where sellers kept more of their ask.
This table sets condo pricing in the Recent Window, June 23 to September 23, 2026, against the two years to the same date, as of September 23, 2026.
| Condo measure | Two years, 350 closings | Recent Window, 57 closings |
|---|---|---|
| Share closing below the original ask | 84.0% | 71.9% |
| Share closing above the original ask | 5.8% | 10.5% |
| Median gap below the ask, on the closings under it | 8.2% | 6.7% |
The two years contain the Recent Window, since 71 of the 449 two-year closings are the recent ones, so these gaps are smaller than a clean split would show. The ends of the range are wide. The weakest recent sale was a waterfront-coded house that first asked $31,900,000 and closed at $17,500,000, which is 54.9% of that ask, and it was also the slowest recent sale to reach a contract. The strongest was a small condo-hotel unit that asked $900,000 and closed at $1,075,000, which is 119.4% of the ask.
Cutting the price travels with a worse result. Across the two years, listings that cut their ask before going under contract took a median 160 days and closed at 86.6% of the original ask, against 30 days and 96.0% for listings that held their price. Listings that cut were already meeting weak demand, so this is an association, not a cause.
A failed first try shows up the same way. 30.7% of the 449 two-year closings had failed at least once before as a cancelled, expired or withdrawn listing, and those homes closed at a median 87.2% of their first-ever ask, across 138 sales.
How long does it take to sell a home on Key Biscayne?
The median condo went under contract 41 days after it was listed in the Recent Window, against 70 days across the two years to September 23, 2026. Days on market here means list-to-pending, which is the days from the day a home is listed to the day it goes under contract, never to the day it closes. Across all property types the median fell to 45 days from 76, and that pooled figure is about 80% condos.
Those figures count only the sales whose contract date was recorded before the closing date: 313 of the 449 two-year closings and 52 of the 71 recent ones. Another 119 two-year closings, 26.5%, carry a contract date equal to the closing date and 17 carry none, and both groups are left out of every speed figure, because their clock would run to the closing.
This table shows the median days from listing to under contract on Key Biscayne, as of September 23, 2026, on sales with a contract date recorded before closing.
| Clock | Median | Sales behind it |
|---|---|---|
| Condos, Recent Window | 41 days | 41 |
| Condos, two years | 70 days | 236 |
| All property types, Recent Window | 45 days | 52 |
| All property types, two years | 76 days | 313 |
| Homes listed before, final attempt, two years | 86 days | 88 |
| Homes listed before, from first listing, two years | 534 days | 88 |
The last two rows are the same 88 sales on two clocks. A home that had failed before went under contract a median 86 days into its final attempt, but 534 days after it was first listed, and that longer count includes any time off the market between attempts. A listing's own day count restarts with each attempt, so it can hide most of a home's history.
The speed-up is not a shift in how buyers pay. Cash buyers made up 71.8% of the 71 recent closings against 67.5% across the two years, a move of a few points.
What is for sale on Key Biscayne right now?
On September 20, 2026, 147 homes were for sale and 23 more were under contract. At the recent thirteen-week pace of closings, those homes would last 27.7 weeks, against 34.5 weeks a year earlier. Weeks of supply means how long the homes now for sale would last at that pace with nothing new listed. The pending ratio, which is the homes under contract divided by the homes for sale, was 0.156 against 0.093 a year earlier.
Supply is turning rather than simply falling. Thirteen weeks earlier 161 homes were for sale, so the count fell by 14, or 8.7%, though the last four weeks added 2. The usual June-to-September season takes off about 2.5%, so the other 6.2 points are trend, and supply fell beyond its season. That split rests on four complete years, 2022 to 2025, and no month held its place in all four, so read it as a direction. The condo side, which here includes townhouses and co-ops, fell to 109 homes from 118, and houses went to 38 from 43, with 5 added in the last four weeks.
This table shows what was for sale on Key Biscayne on September 20, 2026, against the same week a year earlier.
| Measure | September 20, 2026 | A year earlier |
|---|---|---|
| Homes for sale | 147 | 162 |
| Homes under contract | 23 | 15 |
| Weeks of supply at the recent closing pace | 27.7 | 34.5 |
| Pending ratio | 0.156 | 0.093 |
The asks lean to the top. On the condo side the median ask was $1,525,000 across 109 listings, and houses asked a median $7,490,000 across 37. The pooled median ask of $2,505,000 mostly measures how many houses are for sale. Homes asking $5 million or more are 27.4% of the homes for sale, 40 of 146 priced listings, but they were 13.3% of the sales closed in the last 52 weeks, 30 of 225. 34.2% of the priced listings, 50 of 146, had already cut their ask.
Three listings show how the clocks work. The most expensive home for sale is a waterfront-coded house asking $27,900,000, 6.7% below the first ask of its current attempt. That attempt, its second, is 42 days old, but 827 days have passed since it was first listed. The longest-sitting listing has been on the market 590 days on a single attempt, and its ask is now 14.5% below where it started. A 1972 condo of 1,409 square feet is on its fifth attempt. That attempt is 119 days old, 2,411 days have passed since the unit was first listed, and about five of those years it was off the market between its first and second tries.
What changed against a year ago, and what does it mean for you?
Stock is lower than a year ago because more listings sold and fewer gave up, not because fewer arrived. Against the same thirteen weeks a year earlier, 147 homes are for sale against 162, down 9.3%. New listings held level at 82 against 84, contracts rose to 55 from 49, and listings that left the market unsold fell to 39 from 52. Sell-through, the share of listings leaving the market that sold, rose to 63.9% from 54.0%.
The calendar has a pattern, and it is a weak one. Across the four complete years 2022 through 2025, listings that came to market January through March ranked best on five seller measures combined, which count competing homes for sale, how many are under contract, and how often, how fast and how close to the ask each month's listings sold. On the buyer measures, November through December ranked best, with more homes for sale and fewer of them already under contract. That buyer reading is about choice, not price. No month held its place in all four years, so both ranges are a direction.
That leaves two practical reads. If you are writing an offer on a condo, the recent clock is shorter than the two-year one, so test your number against what has closed lately rather than what is asked, and count a listing's attempts before you treat its ask as information. If you are selling, the closings that finished nearest their original ask in this data were the ones that held their price, which is a pattern in the data and not a promise about your own home. None of this is advice about whether to buy or sell here, and none of it is a forecast; it describes closed sales and live listings as of September 23, 2026.
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