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Featured local agent — Key Biscayne, FL
Sarah Mitchell
Compass Real Estate · Key Biscayne, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Key Biscayne, FL Housing Market
The typical home in Key Biscayne, FL is worth $1.69M, rose 4.0% over the past year (Zillow Home Value Index, July 2026). The last median sale price Redfin published was $1.52M, +17.3% year over year (through May 2026). With 9.7 months of supply and homes going under contract in about 178 days, Key Biscayne is a buyer's market. At today's 6.66% 30-year fixed rate, 20% down on a $1.69M home is about $8,701/mo in principal and interest.
Key numbers for Key Biscayne, FL
Typical home value
$1.69M
+4.0% in 12 months
Zillow, July 2026
Typical asking rent
$7,910/mo
Zillow Observed Rent Index
Zillow, July 2026
Median sale price
$1.52M
+17.3% year over year
Redfin, through May 2026
Days on market
178
Slow-moving
Redfin, through May 2026
Active listings
155
9.7 months of supply
Redfin, through May 2026
30-yr fixed rate
6.66%
Freddie Mac weekly average
Freddie Mac via FRED, August 2026
Median household income
$172,604
Home costs 9.8x income
U.S. Census ACS, 2023
Sale-to-list ratio
94.6%
Selling below asking
Redfin, through May 2026
Zillow figures are as of July 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Key Biscayne a buyer's or seller's market?
Key Biscayne, FL is a buyer's market, based on 9.7 months of supply and homes selling in about 178 days. Above 7 months of supply is a glut: inventory is well ahead of the sales pace, and buyers can take time to inspect, compare, and negotiate concessions.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Key Biscayne housing market data show?
Every row below is Redfin's final published month for Key Biscayne, FL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $1.52M |
| Median list price | $1.50M |
| Year-over-year price change | +17.3% |
| Median price per sq ft | $1,026/sq ft |
| Median days on market | 178 days |
| Active inventory | 155 listings |
| Months of supply | 9.7 months |
| Sale-to-list price ratio | 94.6% |
| Homes sold (that month) | 16 |
| New listings (that month) | 39 |
| Listings with a price cut | 12.3% |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Key Biscayne is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Key Biscayne is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Key Biscayne home prices moved?
Over the last three years the median sale price in Key Biscayne, FL rose 7.6%, from $1.42M to $1.52M. The live Zillow value series has rose 4.0% in the last 12 months, which is the more current read now that Redfin's series has stopped. 12.3% of Key Biscayne listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 9.7 months while the sale-to-list ratio slips below its current 94.6%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Key Biscayne?
Priced off the typical home value of $1.69M at the current 6.66% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $338,509 | $1.35M | $8,701/mo |
| 5% | $84,627 | $1.61M | $10,333/mo |
Zillow, July 2026 for the price · Freddie Mac via FRED, August 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $8,701, that implies roughly $372,917 a year before you add taxes and insurance. The median household in Key Biscayne earns $172,604, about $200,313 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 9.8x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Key Biscayne in the next 12 months?
Tell us your timeline. We send the Key Biscayne market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Key Biscayne?
Typical asking rent in Key Biscayne, FL is $7,910/mo, against a typical home value of $1.69M. That is a price-to-rent ratio of 17.8x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $8,701 a month — $791 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, July 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Key Biscayne?
Active listings in Key Biscayne, FL went from 185 in May 2025 to 155 in May 2026, a -16.2% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 169 | 29 |
| July 2025 | 151 | 20 |
| August 2025 | 153 | 27 |
| September 2025 | 150 | 26 |
| October 2025 | 149 | 29 |
| November 2025 | 155 | 28 |
| December 2025 | 146 | 17 |
| January 2026 | 135 | 27 |
| February 2026 | 138 | 34 |
| March 2026 | 135 | 36 |
| April 2026 | 146 | 43 |
| May 2026 | 155 | 39 |
Redfin, through May 2026
How does Key Biscayne compare to Florida and the U.S.?
Key Biscayne homes sell for $1.52M — 262% above the Florida median of $421,500. Against the national median of $410,700, Key Biscayne runs 271% higher. Year-over-year, Key Biscayne moved +17.3% against Florida's +2.6% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Key Biscayne, FL | $1.52M | +17.3% | 178 days |
| Florida statewide | $421,500 | +2.6% | 66 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Key Biscayne
What buyers should watch
- Months of supply, currently 9.7. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 12.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $1,632 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 6.66%, every full point of rate change moves the payment on a $1.69M home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Key Biscayne listing goes under contract in 178 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 94.6% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Key Biscayne added 39 new listings against 16 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +4.0% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Key Biscayne varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Key Biscayne
There are currently 155 homes listed for sale in Key Biscayne, Florida. The median listing price is $1.5M.
Active listings
155
Homes on market
Median list price
$1.5M
Avg. days on market
178
Days until sale
New this week
39
Newly listed
How much do homes cost in Key Biscayne by property type?
How the Key Biscayne, FL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Condo / co-op | $1.50M | $1,017/sq ft | 15 | 169 days |
| Townhouse | $2.85M | $1,094/sq ft | 1 | 186 days |
Who lives in Key Biscayne?
American Community Survey estimates for Key Biscayne. U.S. Census ACS, 2023
Population
14,560
Households
4,985
Median income
$172,604/yr
Median age
43.1 years
Owner-occupied
69.3%
Median home value
$1.24M
Median gross rent
$3,501/mo
Mean commute
23.8 min
69.3% of occupied homes in Key Biscayne are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $1.24M against Zillow's $1.69M typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $3,501/mo, below Zillow's $7,910/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Key Biscayne?
2 schools tracked · 2,426 students
The largest public schools serving Key Biscayne, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
MAST ACADEMY
Grades 6-12 · 1,548 students
KEY BISCAYNE K-8 CENTER
Grades PK-8 · 878 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Key Biscayne, FL?
Ordered by distance from Key Biscayne, not by size. Compare Key Biscayne side by side with any of them.
Key Biscayne housing market FAQ
Is Key Biscayne a buyer's or seller's market?
Key Biscayne, FL is currently a buyer's market. That read comes from 9.7 months of supply, homes going under contract in about 178 days, and sellers getting 94.6% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Key Biscayne?
The typical home in Key Biscayne, FL is worth $1.69M (Zillow Home Value Index, July 2026). The median sale price in the last month Redfin published was $1.52M, about $1,026 per square foot.
Is Key Biscayne cheaper than the rest of Florida?
Key Biscayne's median sale price of $1.52M is 262% higher than the Florida statewide median of $421,500, and 271% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Key Biscayne?
Homes in Key Biscayne, FL spent a median of 178 days on market before going under contract, versus 66 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Key Biscayne?
At the current 30-year fixed rate of 6.66%, 20% down on a $1.69M home is about $8,701 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $372,917 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $172,604.
Are home prices rising in Key Biscayne?
The typical home value in Key Biscayne, FL rose 4.0% over the last 12 months, from $1.63M to $1.69M (Zillow, July 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Key Biscayne?
Key Biscayne ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Key Biscayne?
That depends on your timeline, not on a headline. What the data says today: Key Biscayne, FL is a buyer's market with 9.7 months of supply, the 30-year fixed rate is 6.66%, and the price-to-rent ratio of 17.8x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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