Back 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.
