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Key Biscayne Homes for Sale under $5M

110 listings

Live MLS inventory in Key Biscayne, updated continuously.

24 Grand Bay Estates Circle, Key Biscayne, FL 33149
$4,899,000
5 bd · 5.5 ba · 4,220 sqft
24 Grand Bay Estates Circle, Key Biscayne, FL 33149
360 Ocean Dr # 304S, Key Biscayne, FL 33149
$4,800,000
2 bd · 4 ba · 1,823 sqft
360 Ocean Dr # 304S, Key Biscayne, FL 33149
OCEANA
475 Woodcrest Rd, Key Biscayne, FL 33149
$4,500,000New
4 bd · 3 ba · 2,689 sqft
475 Woodcrest Rd, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 1
199 Ocean Lane Dr # 401, Key Biscayne, FL 33149
$4,500,000
4 bd · 4 ba · 2,825 sqft
199 Ocean Lane Dr # 401, Key Biscayne, FL 33149
COMMODORE CLUB SOUTH
Listing
$3,975,000New
5 bd · 5 ba · 3,186 sqft
Ocean Club
691 Ridgewood Rd, Key Biscayne, FL 33149
$3,800,000
4 bd · 4 ba · 3,403 sqft
691 Ridgewood Rd, Key Biscayne, FL 33149
BISCAYNE KEY ESTATES
350 Ocean Dr # 405N, Key Biscayne, FL 33149
$3,799,000New
2 bd · 4 ba · 1,727 sqft
350 Ocean Dr # 405N, Key Biscayne, FL 33149
Oceana Key Biscayne
881 Ocean Dr # 10A, Key Biscayne, FL 33149
$3,750,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 10A, Key Biscayne, FL 33149
CASA DEL MAR CONDOMINIUM
799 Crandon Blvd # 605, Key Biscayne, FL 33149
$3,750,000
3 bd · 4 ba · 2,510 sqft
799 Crandon Blvd # 605, Key Biscayne, FL 33149
The Ocean Club
200 Ocean Lane Dr # 501, Key Biscayne, FL 33149
$3,750,000
4 bd · 4 ba · 1,880 sqft
200 Ocean Lane Dr # 501, Key Biscayne, FL 33149
ISLAND HOUSE
524 Warren Ln, Key Biscayne, FL 33149
$3,730,000
5 bd · 4 ba · 2,700 sqft
524 Warren Ln, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 1
360 Ocean Dr # 205S, Key Biscayne, FL 33149
$3,650,000
2 bd · 4 ba · 1,830 sqft
360 Ocean Dr # 205S, Key Biscayne, FL 33149
OCEANA KEY BISCAYNE CONDO
881 Ocean Dr # 20A, Key Biscayne, FL 33149
$3,600,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 20A, Key Biscayne, FL 33149
CASA DEL MAR
600 Grapetree Dr # 11BN, Key Biscayne, FL 33149
$3,599,000
3 bd · 3 ba · 3,711 sqft
600 Grapetree Dr # 11BN, Key Biscayne, FL 33149
Mar Azul
881 Ocean Dr # 7H, Key Biscayne, FL 33149
$3,595,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 7H, Key Biscayne, FL 33149
Casa del Mar
255 Ridgewood Rd, Key Biscayne, FL 33149
$3,550,000
4 bd · 3 ba · 2,177 sqft
255 Ridgewood Rd, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 4
791 Crandon Blvd # 404, Key Biscayne, FL 33149
$3,549,000
3 bd · 3 ba · 2,510 sqft
791 Crandon Blvd # 404, Key Biscayne, FL 33149
THE OCEAN CLUB
350 Ocean Dr # 205N, Key Biscayne, FL 33149
$3,500,000
2 bd · 3 ba · 1,830 sqft
350 Ocean Dr # 205N, Key Biscayne, FL 33149
Oceana Key Biscayne
430 Grand Bay Dr # 708, Key Biscayne, FL 33149
$3,490,000
3 bd · 3 ba · 2,840 sqft
430 Grand Bay Dr # 708, Key Biscayne, FL 33149
GRAND BAY
430 Grand Bay Dr # 307, Key Biscayne, FL 33149
$3,400,000
3 bd · 4 ba · 2,840 sqft
430 Grand Bay Dr # 307, Key Biscayne, FL 33149
GRAND BAY TOWER
791 Crandon Blvd # 302, Key Biscayne, FL 33149
$3,340,000
3 bd · 3 ba · 2,510 sqft
791 Crandon Blvd # 302, Key Biscayne, FL 33149
OCEAN TOWER TWO CONDO
548 Fernwood Rd # 548, Key Biscayne, FL 33149
$3,300,000New
4 bd · 3 ba · 2,448 sqft
548 Fernwood Rd # 548, Key Biscayne, FL 33149
N/A
119 Harbor Dr, Key Biscayne, FL 33149
$3,300,000
3 bd · 2 ba · 1,554 sqft
119 Harbor Dr, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 4
199 Ocean Lane Drive # 801, Key Biscayne, FL 33149
$2,990,000New
3 bd · 3 ba · 1,930 sqft
199 Ocean Lane Drive # 801, Key Biscayne, FL 33149
COMMODORE SOUTH

Homes for Sale under $5M in Key Biscayne: How This Market Works

Cross the Rickenbacker and the market changes character entirely: Key Biscayne caps its condo density by ordinance, no new building has delivered since 2014, and the village between Crandon and Bill Baggs parks runs on bikes, the K-8 school and the beach. Inventory this constrained rewards patient buyers — units in the established oceanfront buildings rarely linger.

A ceiling of $5.0M reframes the Key Biscayne search around efficiency — which listings deliver the most location, space or building quality without crossing the line. Markets shaped by ordinance-capped condos on a parkland island always carry mispriced corners: a solid older tower with unfashionable finishes, a townhouse a few blocks off the prestige grid, a listing lingering for reasons that turn out to be fixable. Everything qualifying under the cap is gathered here in one view.

Key Biscayne Market Snapshot

226
Homes sold, last 12 months
$1.6M
Median sale price
60 days
Median time on market

Frequently Asked Questions

How do I spot genuine value under $5.0M in Key Biscayne?

Look for a mismatch between price and fundamentals — a well-run building priced alongside the weak ones, a dated interior on a superior line or lot, long market time that traces to bad photography rather than bad property. We tell you plainly which listings under $5.0M are bargains and which are cheap for reasons that will follow you to resale.

Will my monthly cost stay in budget after buying under $5.0M?

Only if you underwrite everything: association dues, property taxes that reset off your purchase price, insurance keyed to roof age and flood zone, and buyer-side closing costs. We prepare a full carrying-cost worksheet on any listing you shortlist, so the cap you set holds up in month twelve — not just at the closing table.

Can I see a Key Biscayne property before committing to anything?

Of course. Use the inquiry form on any listing or call +1 786-370-8570 and we will set up a private showing around your calendar. Buyers who live elsewhere can request a recorded video walkthrough of any residence. Looking carries no commitment — deciding comes later, on your terms.

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