KEY BISCAYNE REAL ESTATE REPORT - 1ST QUARTER Original Price vs Sold Price Report
The first quarter of 2016 has seen a change in number of real estate’s sales. Lately we have experienced a market slow down, even in Key Biscayne where inventory is always scarce, the sales of condos and single family homes has had a noticeable drop. People start wondering if there is a crash on the way, should they buy now, should they sell now?
Key Biscayne Single Family Homes
Key Biscayne Condos
I do not believe there is going to be any crash soon. The market has certainly shifted a bit. Foreign buyers from Latin America have decreased because of political and economical situation. Financial instability of the past few months and the stengthening of the USD have created a rise in the inventory and prices are slowly getting to more realistic market conditions. We are at a point in the real estate cycle where prices are adjusting, sellers need to price their home properly and buyers might be able to get better deals in the months to come.
CONDOS - 1ST QUARTER 2016 During the first three months of the year, 38 condos have closed in Key Biscayne. The average sale was $1,410,000 and the average days on the market was 168. Overall there has been 71% less sale than the past quarter.
Condos - 1st quarter 2016
Single Family Homes-1st quarter 2016
SINGLE FAMILY HOMES-1ST QUARTER 2016 As far as single family homes, the average sale price for a home in Key Biscayne was approximately $4,600,000 and the average days on the market was 249. In the first quarter the sale for single family homes has decreased 45% from the last quarter of 2015. 335 CYPRESS DRIVE, KEY BISCAYNE Totally remodeled in 2014, 5 bedrooms, 3 bathroom home located on a large lot on a very quiet street. Contemporary design with unique architectural features, bright, spacious & great for entertaining. Magnificent backyard with luscious private landscape overlooking the pool. $2,595,000
*D a t a P r o v i d e d B y S o u t h e a s t F l o r i d a M L S M A T R I X 0 1 / 0 1 / 2 0 1 6 - 0 3 / 3 1 / 2 0 1 6
305.815.5282
cristinapreti@me.com
CRISTINA PRETI
Also available for rent @ $10,500/Mo
6935 Sunrise Ct, Coral Gables
785 Crandon Blvd #301, Key Biscayne
$2,995,000
FLORENCIA MONI
786.200.4867
SUSANA MEDRANO ROTH
Also available for rent @ $6,700/Mo
3525 N Bayhomes Dr, Coconut Grove
$1,990,000
Romantic, four story Villa Serena, uniquely designed, inspired by a Mediterranean hill house. Features views of Biscayne Bay and Atlantic ocean. Situated at the end of one of Coconut Grove’s finest bayfront streets, this enchanting home is minutes to the Village of Coconut Grove. 5/5/2 complete with great room, terraces, 2 car garage, rooftop tower, elevator, plunge pool, fireplace. This rustic/ lux home is a stand out, one of a kind perfect for entertaining and carefree Coconut Grove lifestyle.
ANNIE MAMMES
$1,650,000
Sands of Key Biscayne. One of a kind! Only 2 units per floor! Spacious & very sunny 3/3 unit w/a huge living area (balcony has been enclosed), marble floors, Hurricane resistant windows. South exposure w/ garden, ocean views. Washer/dryer, wine cooler inside unit. Freshly painted. 1 storage space. 1 prkg space. A maximum of 2 vehicles may be registered per unit & an additional space is available for a second vehicle on a 1st come, 1st serve basis.
305.815.6161
92 SW 3 St Unit #2101
$625,000
Excellent opportunity to live on the prestigious Miami Riverfront. River views from the 21 floor. Italian kitchen cabinets, modern high end appliances. Resort-style amenities including spa, steam room, fitness center, swimming pools etc. Rare to find 3/3 property with parking. Must visit!.
786.213.5919
K BERYI CBKIESLCLAY K ENYE 101 Crandon Blvd Unit #477 31 SE 5 St #4219, Miami
$509,000
Brickell on the River. Great opportunity to own a 2 bedroom, 2 bathroom unit at Brickell on the River condominium with views of the Miami Rver. 1 assigned parking space. Washer and Dryer inside the unit.
ANDREI DE BIAGGI
305.469.0897
305.798.6630
$720,000
Ocean Plaza. Steps from the beach. 2 BR and 2 BA, 1435 sq ft desirable boutique building. Large storage room next to apartment. 24 Hour security guard and concierge.Common areas with interior garden patio, gym, heated pool and BBQ area.
786.356.2600
EWM Offers A World Of Advantages For Realtors®, Too! If you would like to talk with me about the possibility of joining our EWM family, I’d be happy to hear from you. It’s a great time to be a realtor at EWM!
$5,800/Mo
Spectacular completely remodeled & apartment in Key Colony Botanica. Spacious 3BRs, 2BA. Kitchen with granite countertop & charming bright breakfast area. Very privated & beautiful living area with a balcony overlooks lush vegetation. Porcelain tile floor throughout. Complex offers beach, pools, spa, gyms, tennis courts, playground, 2 parking spaces & 24 hr gate security. Close to villages restaurants, shops & schools. No pets allowed.
ANGELES FERRER
170 Ocean Lane Dr #401, Key Biscayne
PITY BETANCOURT
B R I CMKIEALM L IK E Y
MENCHU ESCOLAR
305.773.0809
Also available Unit #312 @ $745,000
605 Ocean Dr #2L Key Biscayne
MARIA JOSE LUCENA
305.213.8950
$2,499,999
Ocean Club-Club Tower II. MOST desirable floor plan w/nearly 3,000 sf of interior living space. This residence features 3BRs plus den, nanny’s quarter & 4.5BAs. This impeccable & bright unit offers great flow of living & dining areas plus 2 gorgeous terraces with great views. Live in paradise at this resort like complex w/ the most wonderful amenities which includes Health Club & Spa, Pools, Restaurants, Tennis Club & Beach Service.
Gorgeous, light, bright, chic home on the water with no bridges to bay, inside prestigious gated Sunrise Harbour community. 120Ft of water frontage located at the end of a cul de sac, will accommodate your sailboat or yacht. This house is ideal for a boating enthusiast, impact windows, 2 car garage and an ample master bedroom/bathroom upstairs. Secured, gated tropical paradise in the heart of Coral Gables.
Vivian Galego-Mendez VP-Managing Broker Key Biscayne Office 305.361.5600
Key Biscayne Office • 644 Crandon Boulevard, Key Biscayne, FL 33149 • 305.361.5600