Key Biscayne, FL 33149 Real Estate Market Report

ZIP Code: 33149
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the Key Biscayne real estate market reflects a median sold price of $3,945,000, indicating a robust activity level despite the shifting dynamics. The neighborhood has increased 15% since 2023, showcasing a positive trend in property values. However, the market is experiencing elevated inventory levels, with longer selling times, as evidenced by a median of 370 days on market. This suggests a transition towards a more balanced market, moving away from the previously heated conditions.

The current median listing price stands at $9,275,000, which indicates a significant gap between seller expectations and actual transaction prices. This disparity may create pricing friction, as buyers navigate a market with moderate transaction volume and neutral market temperature. The local economic fundamentals remain strong, supporting sustained demand in both sales and rental markets, with a median market rent of $4,490 contributing to the overall market stability.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Key Biscayne, FL are averaging 6.54% compared to approximately 5.34% in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $3,945,000 indicates a strong market presence despite elevated inventory levels.

2. With 370 days on market, the sales velocity is slower, suggesting a shift in buyer engagement and market dynamics.

3. The median listing price of $9,275,000 reflects a notable gap from sold prices, indicating potential pricing friction in negotiations.

4. The median market rent of $4,490 supports a stable rental market, contributing to overall demand in the area.

5. Market temperature is neutral, suggesting a balanced environment with both buyer and seller opportunities.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.