Bay Harbor Islands, Florida

It's a compact, walkable island community on Biscayne Bay, minutes from Bal Harbour shopping and the beach, with the well-regarded Ruth K. Broad Bay Harbor K-8 serving most addresses. The vibe is residential and low-key compared to Miami Beach, which is exactly why families and second-home buyers gravitate here. Most living happens close to the water, since 89 of the current waterfront homes are on the market at any given time.

Yes — it's a premium market where the median list price is $1,624,500 and homes trade around $1,000 per square foot. That said, the median sold price over the last year was $860,000, so smaller condos close well below the flashier list prices, and it's worth checking the just reduced listings.

Active listings span an enormous range, from entry-level condos up to a $36.5M trophy property, with a median list of $1,624,500 on a typical 1,640-square-foot home. Over the past 12 months, 126 homes actually sold at a median of $860,000. You can also browse by price to filter to your budget.

There are 164 active listings and homes are taking a median of 84.5 days to sell, which gives buyers negotiating room. Sellers are getting about 92% of asking on average, so reasonable offers are landing — particularly with 62 new construction units adding inventory to the mix.

Because the market is nearly all condos, HOA fees vary widely by building and aren't reported as a single median here, so budget for monthly dues on top of the purchase price. Property taxes run about $7,558 per year at the median. If you're weighing renting first, the median rent is $4,025 a month.