The Key Biscayne News for real estate last week was all about condos. There were no home sales. Four condominiums sold and half of those sales took place at the Island House.
The highest sale of the week took place at the Ocean Club. Unit 904 at Club Tower Two sold for over $1,000 a square foot. That sale price per square foot was over $200 more than the average sale price per square foot for all of the Ocean Club during the second quarter of the year. [Read more on the Ocean Club Q2 sales here]
The average days on market for Key Biscayne condos last week was 219. At over 7 months, the absorption rate on the island is slow at the moment. The current months of supply for condos on Key Biscayne is 17.4.
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