Bay Harbor Islands · Market Report
A plain-language snapshot of the single-family and condo markets — what the current data shows, and what it means for buyers and sellers right now.
Bay Harbor Islands closed 12 condo transactions in June against 167 active listings — nearly 14 months of supply in a market where equilibrium sits at six. The inventory-to-absorption gap is the defining dynamic right now, and it is showing up differently across building ages and price segments.
The gap between where sellers are listing and where buyers are actually transacting is wide — and it is showing up differently by building age, price tier, and product type. The full report breaks down what that means for buyers and sellers at each level.
Bay Harbor Islands is a small market. Twelve condo closings in a single period is a workable dataset — but the range from $242,500 to $4,200,000 reflects buildings operating in entirely different buyer pools. Throughout this report, medians are used in preference to averages. The analysis focuses on what specific buildings and price segments are actually doing, not what the neighborhood-wide figure suggests.
Statistics are drawn directly from MLS exports for June 2026. They describe patterns, not predictions. Individual property characteristics — condition, floor, building financials, view — can matter as much as the segment average in a market this concentrated.
This report covers two property segments: condominiums — individual units within multi-unit buildings with shared common areas and HOA structures — and single-family homes, which are standalone houses on their own lot. These segments operate independently in Bay Harbor Islands with different buyer profiles, different pricing dynamics, and different inventory levels. When both appear in this report, they are treated separately.
Bay Harbor Islands closed 12 condo transactions this period at a median price of $745,000 and a median of 99 days on market. With 167 active condo listings and 13.9 months of supply, the market is carrying significantly more inventory than what's being absorbed — and that gap is shaping every conversation I'm having with buyers and sellers right now.
The gap between what sellers are asking and what buyers are actually closing at is significant. The median list price across active inventory sits at $1,250,000. The median closed sale came in at $745,000 — a 68% spread that tells you a large portion of the current inventory is priced above where the market is actually transacting.
Active inventory is priced 68% above where the market is actually closing.
The median list price across active condo inventory sits at $1,250,000. The median closed sale came in at $745,000. A spread this wide means a large portion of current inventory is positioned above where buyers are transacting — pricing accuracy, not exposure, is what's separating sold from sitting.
Twelve condos closed this period across a wide range — from $242,500 to $4,200,000. The median closed price of $745,000 at $428 per square foot gives a clearer picture of where the market is actually meeting. Closings touched buildings across the spectrum: older inventory like Southern Star and Longwood Towers alongside newer product like Onda Residences and Alana Bay Harbor.
Median days on market for closed sales reached 99 days. That number is not an outlier — the active inventory shows a median DOM of 96 days. Both figures point in the same direction: transactions are taking longer to materialize, regardless of price tier.
Nine condo units cancelled in June — including new construction at AIRE Residences ($5,750,000), Onda Residences ($1,699,000), and La Baia North ($1,554,000), alongside legacy inventory at Blair House, Island Pointe, and The Atrium. Against 12 closings, that produces a failed-to-closed ratio of 0.75. Both Onda and La Baia had a closing and a cancellation in the same period, which tells you the distinction is unit-level pricing accuracy, not building-level preference.
With 167 active condo listings and only 12 closings this period, the market is carrying 13.9 months of supply. For context, six months is generally considered equilibrium. At nearly 14 months, buyers have meaningful selection and very little urgency to compete.
The active listings span from $269,900 to $6,250,000, which means new construction and legacy buildings are both contributing to the count. The breadth of that range matters — it's not one segment inflating the number. Supply is deep across price points, and absorption is not keeping pace.
The median active list price of $1,250,000 sits 68% above the median closed sale price of $745,000. That is one of the clearest indicators of where this market stands right now. Sellers are still listing at levels that reflect a different pace of demand.
This does not mean every listing is overpriced. Some of that gap reflects the mix — new construction projects like La Baia, Bijou Bay Harbor, and The Well carry higher asking prices that pull the median up. But even accounting for product differences, the distance between ask and close suggests that a significant share of current inventory is not priced to move at today's absorption rate.
How long does it typically take to sell a condo in Bay Harbor Islands?
The median across the 12 condo closings in June 2026 was 99 days — just over three months. But the range matters more than the median here. Bay Harbor Islands buildings operate in different buyer pools: newer product like Onda Residences and Alana Bay Harbor has tended to move faster when priced accurately, while mid-generation inventory from 2000 to 2018 often carries longer active periods before a buyer engages. In a market with 13.9 months of supply across 167 active listings, pricing accuracy relative to the specific building's closed comp set is what determines how quickly a unit finds a buyer.
How long does it take to sell a single-family home in Bay Harbor Islands?
Two single-family home closings were recorded in June — one at 6 days on market and one at 94. The difference tells you more than any average would: the home that moved in 6 days was priced where the buyer pool was already positioned. The one at 94 days reflects the more typical experience of waiting for the right buyer in a segment with very few annual transactions. Bay Harbor Islands single-family is a thin market — in most months, only a handful of homes trade. Days on market in this segment is driven by pricing accuracy relative to a very small comp set.
What is the price per square foot for condos in Bay Harbor Islands?
The median across June's 12 condo closings came in at $428 per square foot. But Bay Harbor Islands is a market where building-age segments diverge significantly: newer product like Onda Residences and Alana Bay Harbor trades at a meaningfully higher per-square-foot level than mid-generation or pre-2000 inventory like Southern Star or Longwood Towers. The $428 median reflects the mix of buildings that closed this period. For any specific property, the relevant benchmark is the building's own closed comp history, not the neighborhood-wide figure.
Is new construction in Bay Harbor Islands a safe investment?
New construction is both closing and cancelling in Bay Harbor Islands — sometimes in the same building in the same month. June saw the first La Baia closing at $1,580,000 while La Baia North cancelled at $1,554,000. Onda Residences had both a closing and a cancellation. AIRE Residences lost a $5,750,000 penthouse listing to cancellation. Against 12 closings, 9 condo cancellations produced a failed-to-closed ratio of 0.75. The pattern is not that new construction fails broadly — it's that pricing accuracy at the unit level determines the outcome. Units matched to what the buyer pool will actually pay are closing. Units priced above that threshold are cancelling. Pre-construction commitments for underway projects should be evaluated against this pattern, not the developer's timeline.
What is the realistic negotiation range when buying here?
The market-level picture gives a directional signal: the median active list price in Bay Harbor Islands sits at $1,250,000, while the median closed sale came in at $745,000. That 68% spread reflects both a composition effect and genuine pricing pressure — different product types occupy different price tiers, but even within segments, closed prices are running below where most active listings sit. At a unit level, the room to negotiate depends on the property's listing history, its building's own comp set, and how long the seller has been waiting. Properties active beyond 120 days without a price reduction typically have more room; recently listed units priced accurately relative to their building don't.
This report covers current conditions in the Bay Harbor Islands single-family and condo markets — written for buyers and sellers who want to understand what the data actually says, not a headline summary.
Updated June 2026 · MLS data · Bay Harbor Islands, Area 22
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At 13.9 months of supply, the selection right now is the deepest it has been in this market in some time. There are 167 active condo listings, and only 12 closed this period. That ratio gives you room to be deliberate — to compare buildings, negotiate terms, and wait for the right unit without the pressure of competing offers.
The median closed price of $745,000 against a median list price of $1,250,000 tells you that sellers are making meaningful concessions to get to a closing. With median days on market sitting at 99 days for closed sales, many of these transactions involved extended negotiations. If you're making an offer right now, the data supports a more aggressive posture than it would have even a year ago.
With 167 active listings competing for roughly 12 closings per period, the math is straightforward: most of the current inventory will not trade this cycle. Listings that closed did so at a median of 99 days on market, and they closed at a median price of $745,000 — significantly below where the bulk of active inventory is listed. If your unit has been sitting near the $1,250,000 median list price without meaningful interest, the market is giving you direct feedback.
Pricing strategy matters more now than it has in several years. At 13.9 months of supply, each new listing that enters adds to the selection buyers already have. I've watched well-located units in buildings like Island Pointe and The Belmont close this period, but they moved because they were positioned where buyers were actually willing to transact. The listings that are sitting are, in most cases, the ones that haven't adjusted to the current pace.
At 13.9 months of supply and a median of 99 days on market for closed sales, liquidity in Bay Harbor Islands is constrained for sellers and favorable for buyers. The 12 closings this period absorbed a small fraction of the 167 active listings, and the pricing gap — median list at $1,250,000 versus median close at $745,000 — indicates that a substantial portion of current inventory is not priced at levels where transactions are occurring. For anyone who needs to sell within the next 90 days, the data points toward a simple reality: units priced to the prior cycle are sitting, and time on market is extending rather than compressing.
If the current absorption rate holds — roughly 12 closings per period against 167 active listings — supply will continue to build through the next quarter. Based on current inventory levels, sellers who have not adjusted pricing are likely to face increasing competition as new listings from projects like The Well, La Baia South, and Origin by Artefacto continue to enter the market. The median DOM of 99 days for closed sales suggests that even correctly priced units are taking more than three months to transact, which means a listing that enters today without a competitive pricing strategy may not close before the end of the quarter. The spread between ask and close is still too wide, and the volume of active inventory relative to closings hasn't tightened. Patience without a pricing adjustment is a strategy, but at 13.9 months of supply, it carries real cost in carrying expenses and market positioning.
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