Why This Island Community Matters
When my clients ask where they can enjoy true waterfront living while staying connected to everything Miami offers, I often answer with a grin, “Have you considered North Bay Village?”
Nestled between the mainland and Miami Beach, this tight knit city occupies three islands in the middle of Biscayne Bay. With roughly 4.75 miles of shoreline and more than 8,000 residents, North Bay Village boasts unbeatable bay views and a unique history. Once a cluster of sandbars known for celebrity filled nightclubs, the area is now a thriving residential community with a renaissance underway.
In this guide, I’ll share the 2025 housing stats, lifestyle perks, new developments, and insider tips to help you decide if this island escape is your next home or investment.
Waterfront Village Between Miami and Miami Beach
It’s easy to miss North Bay Village when driving along the John F. Kennedy Causeway. Yet this three island paradise is strategically positioned minutes from Edgewater, Downtown, Wynwood, Brickell, and South Beach but worlds away in feel.
The islands North Bay, Harbor, and Treasure were created from dredged bay bottom in the 1940s and are linked by the causeway. Although the land mass totals only 525 acres, the community offers big city conveniences and small town charm. From nearly every balcony, you can see sparkling bay waters and the Miami skyline.
Discover more Miami neighborhoods and see how each community offers its own unique blend of lifestyle, location, and opportunity.
Real Estate Snapshot for 2025
Median Home Prices and Market Trends
The housing market here remains approachable compared with neighboring Miami Beach. The median listing price in September 2025 was about $450,000, with a median sold price around $440,000. The median price per square foot sat at $446, and homes were selling for roughly 4.4 percent below asking price.
Redfin’s September data shows a median sale price of $425,000, up 13.3 percent year over year. Prices per square foot averaged $398, a 10.2 percent annual increase.
These figures reveal two important trends:
- Steady appreciation: Even though listings have dipped slightly, actual sale prices continue climbing, indicating resilient demand.
- Affordability relative to the coast: You can still buy a waterfront condo for under $500 per square foot and a bayfront single family home for under $6.5 million, a bargain in Miami’s luxury market.
Buyer and Seller Dynamics and Days on Market
September 2025 was considered a buyer’s market as supply slightly outpaced demand. Homes sold on average after 121 days, longer than the county average.
Only about 0 percent of transactions closed above list price, and the sale to list ratio hovered around 94.8 percent. For my clients, this means there is room to negotiate but well priced homes still move quickly. Having an experienced agent who knows each island’s micro markets can make all the difference.
Lifestyle and Amenities
Waterfront Living, Parks, and Marinas
Living in North Bay Village means waking up to sunrise over Biscayne Bay and watching dolphins from your balcony.
Outdoor enthusiasts love the Pelican Harbor Marina, a launch site for boating, paddle boarding, and jet skiing. Harbor Island offers quiet streets and new mid rise condos, while Treasure Island buzzes with cafés, shops, and MiMo style architecture.
The village maintains two playgrounds and a dog park, plus jogging trails and bike paths along the water. For more excitement, head five minutes west to Wynwood’s art scene or east to the sands of Miami Beach.
Dining, Schools, and Community Spirit
Despite its size, North Bay Village hosts some of South Florida’s hottest restaurants where residents can walk to waterfront eateries and trendy cafés.
Weekly farmers markets and block parties foster a close knit vibe. Families appreciate highly rated schools, including Air Base K 8 Center and Treasure Island Elementary.
The village is somewhat walkable and bikeable, and the median age of 46.6 reflects a mix of retirees, professionals, and families.
Discover more about the North Bay Village lifestyle, local favorites, and real estate opportunities on our dedicated neighborhood page.
Islands and Neighborhoods
North Bay and Harbor: Quiet Enclaves
North Bay Island, the oldest section, hosts mostly single family homes on tree lined streets. Many were built in the 1950s but have been remodeled with modern finishes.
Harbor Island, created later, offers dense mid rise condos and townhomes. It feels more suburban, with pocket parks and a small town vibe. Properties here tend to sell at lower price points, making them attractive to first time buyers and downsizers.
Treasure Island: The Energetic Heart
Treasure Island is where you’ll find the action. Lined with high rise condos and Miami Modern garden apartments, it’s home to restaurants, coffee shops, and boutique services.
Many units enjoy direct bay frontage or marina access. This island has the liveliest rental market and offers strong cash flow potential for investors. It also houses most of the village’s upcoming luxury projects.
Developments and Investment Potential
Luxury Projects Reshaping the Skyline
North Bay Village is experiencing a building boom that will add more than $2 billion in residential and mixed use developments. Here are some notable projects:
- Pagani Residences: The first residential tower by the Italian hypercar brand features bespoke condos with 11 foot ceilings, private marina access, and concierge service.
- Shoma Bay: A 21 story tower with 327 apartments anchored by a Publix supermarket, food hall, rooftop restaurant, and sky lounge.
- Continuum Club and Residences: A 32 story tower with wraparound bay views, residences from 800 to 4,000 square feet, and 60,000 square feet of amenities including a wellness center, spa, pools, and private marina.
- 7918 Tower and 7128 West: Additional luxury projects featuring smart home technology, penthouses with 360 degree views, and rooftop bars.
These developments are already spurring interest and price appreciation. The median sales price has jumped 37 percent in the past year to about $535,000, underlining robust demand.
As inventory of older condos dwindles, pre construction units are commanding premium pricing, making now a strategic time to invest.
Interested in what’s next for this waterfront community? Explore the latest new construction and pre-construction projects shaping North Bay Village’s future.
Why North Bay Village Is a Smart Buy or Investment
There are several reasons my clients choose North Bay Village over other coastal neighborhoods:
- Waterfront views at a discount: Prices per square foot remain lower than Brickell or Miami Beach.
- Central location: You’re 10 minutes from downtown and 15 from Miami International Airport.
- Future growth: With $2 billion in development and a master plan focused on walkability and public spaces.
- Investor friendly market: A buyer’s market and strong rental demand create excellent leverage.
Who Should Consider North Bay Village
Families and Lifestyle Seekers
If your priority is waterfront living without the tourist crowds, this village is perfect. Families enjoy parks, good schools, community events, and a close knit feel. Retirees appreciate the serenity and views, while professionals working in downtown or on the beach love the short commute and active lifestyle.
Investors and Second Home Buyers
Investors see potential in the area’s long term appreciation and rental demand. Whether you’re buying a condo to rent seasonally or a penthouse to enjoy part time, North Bay Village offers a unique combination of affordability and upside.
With new luxury brands entering the market, you can still get in early compared to more established Miami districts.
Tips for Buying and Living Here
Budget Considerations, HOA Fees, and Flood Insurance
Before falling in love with a bayfront penthouse, understand the costs. Condos here have homeowner association fees that cover amenities, security, and insurance, so factor these into your budget.
Because the islands lie in Biscayne Bay, flood insurance is often required and rates can vary based on elevation and building age. When evaluating older buildings, consider upcoming assessments for updates or renovations.
Download my free Buyer Guide to learn how to prepare a thorough budget and financing strategy.
Working with an Expert Local Agent
Local knowledge matters in a micro market like North Bay Village. Each building has its own personality, amenities, and financial health.
An agent who knows the islands can steer you toward solid associations, negotiate fair terms, and introduce you to pre construction opportunities before they hit the market.
If you’re selling, I’ll help position your property for maximum exposure and guide you through staging, pricing, and timing. Grab my Seller Guide for tips on maximizing your property’s value.
Next Steps
North Bay Village offers something rare in Miami: an island escape that keeps you connected.
With picturesque bay vistas, approachable price points, and a wave of visionary developments, this three island community is stepping into the spotlight.
Whether you dream of morning kayak sessions, dinner at a waterfront bistro, or investing in Miami’s next hot neighborhood, North Bay Village deserves a spot on your list.
If you’d like personalized insights or help finding your next home here, contact me today and let’s explore whether this hidden gem is your perfect match.
