MIAMI PRIMECondos

Key Biscayne Homes for Sale under $5M

149 listings

Live MLS inventory in Key Biscayne, updated continuously.

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
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
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
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
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
1111 Crandon Blvd # A501, Key Biscayne, FL 33149
$2,950,000New
3 bd · 2 ba · 1,782 sqft
1111 Crandon Blvd # A501, Key Biscayne, FL 33149
The Towers
201 Crandon Blvd # 163, Key Biscayne, FL 33149
$2,865,000
3 bd · 4 ba · 2,604 sqft
201 Crandon Blvd # 163, Key Biscayne, FL 33149
Key Colony
600 Grapetree Dr # 11DN, Key Biscayne, FL 33149
$2,850,000
3 bd · 2 ba · 1,889 sqft
600 Grapetree Dr # 11DN, Key Biscayne, FL 33149
MAR-AZUL CONDO
201 Crandon Blvd # 643, Key Biscayne, FL 33149
$2,800,000New
2 bd · 2 ba · 1,950 sqft
201 Crandon Blvd # 643, Key Biscayne, FL 33149
KEY COLONY
737 Crandon Blvd # 402, Key Biscayne, FL 33149
$2,800,000
3 bd · 3 ba · 2,470 sqft
737 Crandon Blvd # 402, Key Biscayne, FL 33149
Lake Villa Two
765 Crandon Blvd # 603, Key Biscayne, FL 33149
$2,799,000
3 bd · 3 ba · 2,632 sqft
765 Crandon Blvd # 603, Key Biscayne, FL 33149
Ocean Club
596 Fernwood Rd # B, Key Biscayne, FL 33149
$2,795,000
3 bd · 4 ba · 1,650 sqft
596 Fernwood Rd # B, Key Biscayne, FL 33149
596 Fernwood
151 Crandon Blvd # 1130, Key Biscayne, FL 33149
$2,650,000
3 bd · 3 ba · 2,001 sqft
151 Crandon Blvd # 1130, Key Biscayne, FL 33149
The Emerald Bay
209 E Enid Dr # 36, Key Biscayne, FL 33149
$2,600,000
4 bd · 4 ba · 2,442 sqft
209 E Enid Dr # 36, Key Biscayne, FL 33149
GDNS OF KEY BISCAYNE

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

223
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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