KeyBiscaynestats August 15th

REAL-TIME MARKET NUMBERS
Key Biscayne, FL
REPORT FOR 8/15/2021
Single-Family Homes
Presented by Michael Lewis

michael@michaellewismarketingsuite.com
REAL-TIME MARKET NUMBERS Single-Family Homes
Powered by Altos Research https://Altos.RE
Key Biscayne, FL
This week the median list price for Key Biscayne, FL is
$4,197,500 with the market action index hovering around 38. Real-Time Market Profile
This is about the same as last month's market action index of
Median List Price $4,197,500
38. Inventory has decreased to 38.
Median Price of $2,447,500
Market Action Index New Listings
This answers “How’s the Market?” by comparing rate of sales versus Per Square Foot $982
inventory.
Average Days on 191
Buyer's 40
50 60
Seller's Market
70
30
Market Market Median Days on 60
20
80
Las Market
t
Tod
M
Price Decreased 11%

10
90
on
ay
th
Price Increased 8%
100
0
38
Relisted 0%
Slight Seller's Advantage
Inventory 38
Market appears to have begun to cool. As we’re still notably
Median Rent
in the Seller’s zone, prices have not yet adjusted. If the
market continues to cool, then expect prices to follow lower. It Market Action 38
may take a few more weeks of slack demand for prices to Slight Seller's Advantage
reflect and begin to fall. Expect this condition if the index falls
to the Buyer’s zone.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$12,500,000 8,573 0.5 - 1 acre 4 5 36 0 0 413
$4,690,000 4,557 8,000 - 10,000 sqft 5 6 49 0 1 42
$3,999,499 4,657 6,500 - 8,000 sqft 5 6 14 0 1 56
$2,475,000 2,619 6,500 - 8,000 sqft 4 3 60 2 2 70
Sun Aug 15 2021

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Key Biscayne, FL
Median List Price
This week saw relatively little price change from last week. However, prices continue demonstrate a
nice up trend in general over the last several weeks.
$4.5M
$4.3M
$4.0M
$3.8M
$3.5M
$3.3M
$3.0M
$2.8M
Aug 2018 Jan 2019 May 2019 Sep 2019 Jan 2020 May 2020 Sep 2020 Jan 2021 May 2021
7-Day Average 90-Day Average
Segments
Pricing across most of the market has stayed relatively strong recently. While Quartile 2 is basically
flat, all other segments are in an up trend period. Unless the Market Action Index has a persistent
downward shift, expect that Quartile 2 will assume a similar trend with the other groups.
$12.5M
$10.0M
$7.5M
$5.0M
$2.5M
$0
First/Top 90-Day Second/Upper 90-Day Third/Lower 90-Day Fourth/Bottom 90-Day
Sun Aug 15 2021

Key Biscayne, FL
Price Per Square Foot
In a market where prices are rising fairly consistently, price per square foot is essentially flat. This
often implies that new homes coming on the market are pricier, and also larger than older homes.
As a result the value one can buy stays the same.
$1.2K
$1.1K
$1.0K
$900
$800
$700
Inventory
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a
strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether
buyer interest is changing with the available supply.
150
125
100
75
50
25
Sun Aug 15 2021

Key Biscayne, FL
Market Action Index
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet
adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more
weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to
the Buyer’s zone.
70
60
50
40
30
20
10
Market Action Segments

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles
for changes before the whole market changes. Often one end of the market (e.g. the high-end) will
weaken before the rest of the market and signal a slowdown for the whole group.
80
60
40
20
0
Sun Aug 15 2021

Key Biscayne, FL
Median Days on Market (DOM)
The properties have been on the market for an average of 193 days. Half of the listings have come
newly on the market in the past 91 or so days. Watch the 90-day DOM trend for signals of a
changing market.
350
300
250
200
150
100
50
0
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the
lower quartiles.
600
500
400
300
200
100
0
Sun Aug 15 2021


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REAL-TIME MARKET NUMBERS

Presented by Michael Lewis

Price Decreased 11%

$12,500,000 8,573 0.5 - 1 acre 4 5 36 0 0 413

$4,690,000 4,557 8,000 - 10,000 sqft 5 6 49 0 1 42

$3,999,499 4,657 6,500 - 8,000 sqft 5 6 14 0 1 56

$2,475,000 2,619 6,500 - 8,000 sqft 4 3 60 2 2 70

Sun Aug 15 2021

7-Day Average 90-Day Average

First/Top 90-Day Second/Upper 90-Day Third/Lower 90-Day Fourth/Bottom 90-Day

Sun Aug 15 2021

7-Day Average 90-Day Average

7-Day Average 90-Day Average

Sun Aug 15 2021

7-Day Average 90-Day Average

Market Action Segments

First/Top 90-Day Second/Upper 90-Day Third/Lower 90-Day Fourth/Bottom 90-Day

Sun Aug 15 2021

7-Day Average 90-Day Average

First/Top 90-Day Second/Upper 90-Day Third/Lower 90-Day Fourth/Bottom 90-Day

Sun Aug 15 2021

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