204 Days on Market
House for Sale
$4,899,000
5 bd · 5.5 ba · 4,220 sqft
Bedrooms
Bathrooms
Key Biscayne Homes for Sale under $5M
106 listings
160 Days on Market
Condo for Sale
$4,500,000
4 bd · 4 ba · 2,825 sqft
199 Ocean Lane Dr # 401, Key Biscayne, FL 33149
COMMODORE CLUB SOUTH
Newly Listed
House for Sale
$4,500,000
4 bd · 3 ba · 2,689 sqft
475 Woodcrest Rd, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 1
Newly Listed
Condo for Sale
$3,975,000
3 bd · 5 ba · 3,093 sqft
781 Crandon Blvd # 401, Key Biscayne, FL 33149
OCEAN CLUB
74 Days on Market
Condo for Sale
$3,975,000
3 bd · 5 ba · 3,186 sqft
Ocean Club
8 Days on Market
Condo for Sale
$3,950,000
4 bd · 5 ba · 3,250 sqft
445 Grand Bay Dr # 104, Key Biscayne, FL 33149
GRAND BAY RESIDENCES COND
Newly Listed
Condo for Sale
$3,900,000
4 bd · 4 ba · 2,930 sqft
430 Grand Bay Dr # 606, Key Biscayne, FL 33149
GRAND BAY TOWER
401 Days on Market
House for Sale
$3,800,000
4 bd · 4 ba · 3,403 sqft
691 Ridgewood Rd, Key Biscayne, FL 33149
BISCAYNE KEY ESTATES
Newly Listed
Condo for Sale
$3,799,000
2 bd · 4 ba · 1,727 sqft
350 Ocean Dr # 405N, Key Biscayne, FL 33149
Oceana Key Biscayne
206 Days on Market
Condo for Sale
$3,750,000
3 bd · 4 ba · 2,510 sqft
799 Crandon Blvd # 605, Key Biscayne, FL 33149
The Ocean Club
20 Days on Market
Condo for Sale
$3,750,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 10A, Key Biscayne, FL 33149
CASA DEL MAR CONDOMINIUM
143 Days on Market
House for Sale
$3,730,000
5 bd · 4 ba · 2,700 sqft
524 Warren Ln, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 1
437 Days on Market
Condo for Sale
$3,650,000
2 bd · 4 ba · 1,830 sqft
360 Ocean Dr # 205S, Key Biscayne, FL 33149
OCEANA KEY BISCAYNE CONDO
92 Days on Market
Home for Sale
$3,600,000
4 bd · 4 ba · 1,880 sqft
200 Ocean Lane Dr # 501, Key Biscayne, FL 33149
ISLAND HOUSE
175 Days on Market
Condo for Sale
$3,600,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 20A, Key Biscayne, FL 33149
CASA DEL MAR
28 Days on Market
Condo for Sale
$3,595,000
3 bd · 3 ba · 3,120 sqft
881 Ocean Dr # 7H, Key Biscayne, FL 33149
Casa del Mar
158 Days on Market
House for Sale
$3,550,000
4 bd · 3 ba · 2,177 sqft
255 Ridgewood Rd, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 4
34 Days on Market
Condo for Sale
$3,549,000
3 bd · 3 ba · 2,510 sqft
791 Crandon Blvd # 404, Key Biscayne, FL 33149
THE OCEAN CLUB
255 Days on Market
Condo for Sale
$3,500,000
2 bd · 3 ba · 1,830 sqft
350 Ocean Dr # 205N, Key Biscayne, FL 33149
Oceana Key Biscayne
72 Days on Market
Condo for Sale
$3,490,000
3 bd · 3 ba · 2,840 sqft
430 Grand Bay Dr # 708, Key Biscayne, FL 33149
GRAND BAY
49 Days on Market
Condo for Sale
$3,340,000
3 bd · 3 ba · 2,510 sqft
791 Crandon Blvd # 302, Key Biscayne, FL 33149
OCEAN TOWER TWO CONDO
13 Days on Market
House for Sale
$3,300,000
3 bd · 2 ba · 1,554 sqft
119 Harbor Dr, Key Biscayne, FL 33149
TROPICAL ISLE HOMES SUB 4
Newly Listed
Townhome for Sale
$3,300,000
4 bd · 3 ba · 2,448 sqft
548 Fernwood Rd # 548, Key Biscayne, FL 33149
N/A
291 Days on Market
Condo for Sale
$3,150,000
2 bd · 3 ba · 2,100 sqft
789 Crandon Blvd # 1005, Key Biscayne, FL 33149
The Ocean Club
Talk to a local agent
Looking at Key Biscayne Homes for Sale under $5M?
Tell us what you're after — we'll send matching homes, off-market options and recent sales, and set up private showings.
Live MLS inventory in Key Biscayne, updated continuously. Florida Lux Real Estate currently tracks 106 active listings here. MLS inventory updated October 11, 2026.
Homes for Sale under $5M in Key Biscayne: What to Know Before You Search
Beyond the Rickenbacker tollgate, tucked between two state parks, Key Biscayne functions as Miami's island village — a K-8 school and streets where children pedal to the beach. Ordinance limits the condo count and no new building has opened since 2014, which means the scarcity driving prices here is entirely real.
Setting the ceiling at $5.0M turns Key Biscayne into a value hunt — and the value tends to hide in specific corners: an older building whose fees undersell its address, a property type the market keeps overlooking, a block just off the prime grid. Known for a family island village between two state parks, fifteen minutes from Brickell, Key Biscayne always has an under-the-radar pocket, and this page keeps every listing beneath the cap in one place so none of it slips past you.
Key Biscayne Market Snapshot
227
Homes sold, last 12 months
$1.6M
Median sale price
61 days
Median time on market
Frequently Asked Questions
What can I realistically buy in Key Biscayne under $5.0M?
The honest inventory is right here, updated continuously, and the mix shifts month to month. As a rule of thumb condos stretch a capped budget furthest, townhomes buy the most space, and houses under a ceiling trade quickest. We'll tell you candidly which listings are priced low for a reason.
What costs sit beyond the price in Key Biscayne?
Budget association dues on condos and townhomes, insurance that shifts with roof age and flood zone, and buyer closing costs of roughly two to three percent. We build a true monthly-cost sheet for any listing before you offer, so your ceiling still holds after closing.
How do I arrange a showing in Key Biscayne?
Each listing on this page carries an inquiry form that goes straight to our brokerage — or reach us at +1 786-370-8570. We schedule private tours to fit your calendar and run live video walkthroughs for buyers relocating from out of state, with no obligation attached.
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