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.
April closed with 6 condo sales in Bay Harbor Islands at a median sale price of $952,500 and a median of 132 days on market. Seventeen new condo listings entered at a median ask of $2,450,000 — more than two and a half times the median closed price. Five listings were cancelled or withdrawn after a median of 142 days. The gap between what sellers are listing at and what buyers are transacting is the defining feature of this market right now.
The failed-to-closed ratio was 0.83 — for roughly every 6 sales that closed, 5 listings were pulled. At 2.8 months of supply, the inventory math technically leans toward sellers, but only for those priced where buyers are actually transacting. The single-family side produced one closed sale at $8,000,000 and 17 cancellations.
The full report covers April condo market conditions — building-level performance, the pricing gap analysis, and what the data means for buyers negotiating and sellers pricing today.
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 April 2026 · MLS data · Bay Harbor Islands, Area 22
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Bay Harbor Islands is a small market. Six condo closings in a single month is a thin dataset, and a single high-value transaction shifts the average significantly. Throughout this report, medians are used in preference to averages, and the analysis focuses on what the specific buildings and price points in the dataset are actually doing — not what the neighborhood-wide figure suggests.
Statistics here are drawn directly from MLS exports for April 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.
Six condo sales closed in Bay Harbor Islands in April — a thin dataset, but enough to show a consistent pattern. The median closed price is $952,500. The median list price for new inventory entering this month is $2,450,000. That gap — roughly $1.5 million — is not a statistical anomaly. It reflects a persistent mismatch between what sellers are asking and where buyers will actually transact.
Five listings cancelled or withdrew in the same period. Against 6 closings, that's a 0.83 failed-to-closed ratio — nearly as many exits without a buyer as exits with one. The market is not stalled. It is selective. Properties priced where buyers will transact are closing. Properties priced above that threshold accumulate days on market until sellers adjust or exit.
Six condos closed in April across Bay Harbor Club Condo, Bijou Bay Harbor, Le Jardin House, Montego Club, and The Villas at Bay Harbor. The median sale price came in at $952,500, with a range from $600,000 to $2,220,000. Median price per square foot landed at $515.
The median days on market for closed sales — 132 — signals that buyers are taking their time. This is not a market where well-priced units sit indefinitely, but it's also not a market where anything moves in 30 days without a compelling reason. The failed-to-closed ratio of 0.83 reinforces that: for roughly every 6 sales that closed, 5 listings were pulled. That's a high cancellation rate, and it points directly to mispricing or unrealistic seller expectations.
With 17 active condo listings and 6 closings this month, months of supply sits at 2.8. On paper, that leans toward a seller's market. In practice, the picture is more complicated. The 17 new listings span a wide range — from $359,000 to $6,825,000 — across buildings including Onda Residences, The Well Bay Harbor, La Baia, Sereno, Guildford Condo, Bay Harbor Towers, Southern Star, The Belmont Condo, 9900 West, St Regis Apts Condo, and Bijou. That breadth means the 2.8 months figure is averaging across very different product types. A buyer looking in the $900,000–$1,200,000 range where deals are actually closing is operating in a different market than someone evaluating new-construction listings priced above $2 million.
The single-family side is essentially frozen for active inventory — zero new listings this month. One single-family home closed at $8,000,000, and 17 single-family listings were cancelled or withdrawn. That ratio speaks for itself.
The median list price for new condo listings this month is $2,450,000. The median closed sale price is $952,500. That's a gap of roughly $1.5 million. Some of that gap reflects product differences — several of the new listings are in newer buildings like Onda Residences and The Well Bay Harbor, which command higher per-unit pricing. But the gap also reflects a pattern that recurs consistently in Bay Harbor Islands: sellers anchoring to aspirational pricing rather than recent comps. When 5 out of every 11 listing exits are cancellations, the market is telling us that a significant share of listings never find a buyer at the price they entered at.
Buyers who understand this dynamic have real leverage. Sellers who ignore it end up in the cancelled column after 142 days. Pricing accuracy is the primary variable separating a 132-day close from a cancelled listing in this market.
The data this month gives you a clear negotiating position. Closed sales are happening at a median of $952,500 and $515 per square foot, while new inventory is entering at a median ask of $2,450,000. That disconnect means there are sellers in Bay Harbor Islands right now who will need to adjust — and listings that have been sitting past the 130-day mark are the ones most likely to move on price. The 45% failure rate on listing exits tells you that nearly half of all exits are cancellations, which means a significant number of sellers are discovering their price doesn't work.
If you're looking at resale product in buildings like Bay Harbor Club Condo, Montego Club, or The Villas at Bay Harbor — where closings actually happened this month — the recent sales give you a concrete basis for your offer. Don't anchor to list prices. Anchor to what closed, how long it took, and what got cancelled. That's the real market.
If you're pricing a condo in Bay Harbor Islands right now, the most important number isn't what your neighbor listed at — it's 132. That's the median days on market for the units that actually sold this month. The ones that didn't sell sat even longer: 142 days median before being cancelled or withdrawn. Pricing above where the market is transacting doesn't just cost you time. It costs you leverage, because buyers in this market are watching DOM closely.
The 6 units that closed in April traded between $600,000 and $2,220,000, with a median of $952,500. If your unit falls within that range, pricing tightly to recent comps is the clearest path to a closed deal. If you're in a newer building with higher basis — Onda Residences, The Well Bay Harbor, La Baia — recognize that you're competing with 17 active listings, many of them in similar product. At 2.8 months of supply, the inventory math technically favors sellers, but only if you're priced where buyers are actually transacting.
The 45% failure rate is the clearest warning sign: nearly half of all listing exits in April were cancellations. Price it right or prepare to wait.
How long does it typically take to sell a condo in Bay Harbor Islands?
The median for the 19 closings in this period was 109 days — just under four months. But the range is wide: four closed in under 30 days, eight took more than 180. New construction in recently delivered buildings moved fastest, around 56 days median. Mid-generation buildings from 2000 to 2018 moved slowest, with some units taking well over a year. The spread suggests that pricing accuracy relative to building-specific comps matters more than overall market conditions in determining how quickly a unit finds a buyer.
How long does it take to sell a single-family home in Bay Harbor Islands?
The one confirmed SF sale in this period closed in 68 days — a 2018-construction home priced accurately. The nine active listings are averaging 84 days, with four over 100 days. In a market with this few transactions, days on market is less a speed indicator than a pricing accuracy signal. Homes priced where the buyer pool will transact move. Homes priced above that threshold sit until sellers adjust or exit.
What is the price per square foot for condos in Bay Harbor Islands?
It varies significantly by building age. New construction (2019 and newer) closed at a median of approximately $1,200 per square foot. Mid-generation buildings from 2000 to 2018 closed at $630–$1,035 per square foot. Pre-2000 older buildings closed at a median of approximately $416 per square foot. The overall average is pulled upward by a small number of high-value new construction closings — which is why the segment breakdown is more useful than any single number when evaluating a specific property.
Is new construction in Bay Harbor Islands a safe investment?
The data doesn't support a blanket answer. Some new construction — particularly boutique waterfront delivery — absorbed at reasonable pace and at strong prices per square foot. Other new and near-new buildings had multiple units cancel after 127 to 701 days on market without finding buyers. The distinction appears to be pricing relative to what the buyer pool at that product type will pay. Pre-construction commitments among 2026–2027 underway projects should be evaluated against this cancellation data, not just against the developer's projections.
What is the realistic negotiation range when buying here?
The median across all 21 condo closings was approximately 5% below asking. Six closings came in below 90% of list, with the widest discount at 76%. Properties that sat for months before closing typically sold at 8–16% below original list. How much room exists in any specific transaction depends on the property's history, what comparable units have actually closed for, and how long the seller has been waiting. DOM is the clearest signal of seller flexibility.
Bay Harbor Islands is a market where building selection matters more than neighborhood selection. Two buyers looking at waterfront condos in the same price range — one at a recently delivered boutique building, one at a 2003 mid-rise that has been testing the same price for 18 months — are in entirely different negotiating positions. The mid-generation segment in this market has a documented pattern of overpricing followed by extended DOM and eventual discount. KAI at 433 days, Carroll Walk at 322 days and 84 cents on the dollar, Sereno at 965 days — these outcomes are not random. They reflect a segment where sellers consistently price ahead of where buyers will transact. Any buyer evaluating mid-generation waterfront today should pull the full listing history, not just the current DOM, before deciding what to offer.
The cancel-relist pattern is especially important here. Several active listings in Bay Harbor Islands show current DOM figures of 14 to 45 days that actually represent the latest in a sequence of listing attempts — sometimes with different MLS numbers. The prior history doesn't appear on consumer portals, but it's accessible through MLS queries. A listing that shows 22 days active and carries two prior canceled entries at higher prices tells a different story than its current DOM suggests. In a market where the average time to cancellation was 238 days, buyers who know how to read that history understand what the seller has already been through.
New construction absorption is not uniform, and pre-construction buyers should note this carefully. La Baia North at 9481 E Bay Harbor Drive had three separate unit cancellations after 127, 145, and 261 days. Solina had two cancellations — one after 478 days, one after 701 days. These are not distressed buildings or flawed projects. They are units where the buyer pool at the asking price didn't materialize within a full marketing cycle. Anyone committing to a pre-construction purchase among 2026–2027 underway projects in Bay Harbor Islands should evaluate that context alongside developer projections. The market does close new construction — Onda Residences shows that — but pricing relative to what buyers will pay at delivery matters significantly.
The single-family data is thin enough that behavioral signals are hard to separate from coincidence. What the one confirmed sale provides is a concrete pricing reference at the buyer pool's floor: $1,333 per square foot for 2018 construction at the right price. The nine active listings that haven't sold include everything from houses that have been relisted multiple times to a $34.5M outlier with no bearing on the $4M–$7M segment. SF buyers in Bay Harbor Islands are working with limited comparable data, which means understanding adjacent Intracoastal markets — Surfside to the south, Bal Harbour to the north — as part of the same buyer decision is more important than it is in markets with deeper transaction volume.
I can run a building-level or unit-level analysis for any specific property you're evaluating. No pitch — just the numbers.
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