(305) 793-1365 restivomiami@gmail.com

Key Biscayne, Florida: Home pricing THEN … and NOW

May 6, 2011

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

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.

The Most Comprehensive Report On The Luxury Lifestyle

The Most Comprehensive Report On The Luxury Lifestyle

Berkshire Hathaway HomeServices, the defining voice in the luxury real estate industry, and The Wall Street Journal’s Mansion Global Custom Studios bring you the 2021 Global Luxury Landscape Report. The report delves deeply into the inner workings of the world’s...


Enjoy this blog? Please spread the word :)

Follow by Email