How is The Keystone Point Real Estate Market Doing? September 2015

Keystone Point Real Estate Market Report

There are currently 35 Keystone Point homes for sale (4 more than last month):

• Highest priced listing: $5,290,000 (open bay Mediterranean estate located at 12485 Keystone Island Dr)
• Lowest priced listing: foreclosure at 2111 Alamanda Dr for $369,200 (major fixer-upper)
• Pending Sales (properties under contract): 4 (compared to 5 last month)
• Closed sales in September 2015: 7 (compared to 4 in August)

The 7 Keystone Point homes sold in September were the following:

• 1980 Alamanda Dr – listed for $549,000 in June and selling for $525,000 – beautifully updated mid-century modern with 2 bedrooms / 2 bathrooms on a dry lot ($388/SF)
• 1915 Alamanda Dr – listed for $568,000 in February and selling for $518,000 – 3 bedrooms / 2 bathrooms on a dry lot and currently listed for rent for $2,700/month ($266/SF)
• 2055 Ixora Dr – listed for $849,000 in July and selling for $849,000 – 3 bedrooms / 2 bathrooms, canal-front with 75′ of water frontage ($426/SF)
• 1955 NE 124 St – listed for $890,000 in June and selling for $800,000 – completely remodeled 3 bedrooms / 2 bathrooms on a dry lot with 11,250 SF of land ($354/SF)
• 2293 Keystone Bl – listed for $1,250,000 in July and selling for $1,175,000 – 3 bedrooms / 3 bathrooms, canal-front with 75′ of water frontage on a favorite side of Keystone Point. ($450/SF)
• 1850 Hibiscus Dr – listed for $1,282,000 in April and selling for $1,150,000 – 3 bedrooms /2.5 bathrooms, canal-front with 75′ of water frontage and a big 14,637 sq.ft. lot ($450/SF)
• 12995 Arch Creek Te – originally listed for $1,699,000, with several price reductions and selling for $1,349,000 – 4 bedrooms/4 bathrooms remodeled canal-front with 87′ of water frontage on a 10,990 sq.ft. lot ($484/SF)

The average selling price per square foot in Keystone Point in September for dry-lot (non-waterfront) homes was $336. The average selling price per square foot in Keystone Point in September for waterfront homes was $455 compared to August’s average of $414, July’s $396 and June’s $411. Although we don’t recommend looking at just one month’s of sales to determine how a market is doing, it’s interesting to see fluctuations use these to determine trends and best times to sell your own property. Keystone Point’s inventory continues to be record low which place sellers in a favorable position when negotiating.  We all know the rule of Supply and Demand ….low supply and high demand = higher prices!!  Take this with a grain of salt though – prices are still appreciating, but conservatively.  You cannot misconstrue low inventory to mean you can overprice your home. Although we specialize in architecturally and historically significant real estate – we know how to get you top dollar for your property. Call us if you are thinking about buying or selling in Keystone – we’ll be happy to provide a no obligation consultation for your home.

Keystone Point House of The Month

The Miamism Sales Team recommends the Keystone Point home located at 13205 Biscayne Bay Drive.  This is an open bay home with over 100′ of bay frontage and a 15,270 sq.ft. lot.  The home was built in 1976 but has a 30’s flare with 6,117 sq.ft. of living space, 6 bedrooms and 5.5 bathrooms. The asking price is $4,650,000 which is under $800/sq.ft. for a wide bay location!! Even if finishes could afford some freshening up and are not exactly what you would want for a $4 million home, the price is right! Please call us to coordinate a showing appointment of this or any other Keystone Point home.

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To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information. Call us Today for a listing appointment! If you are interested in getting a list of all properties currently for sale in Keystone Point, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at Keystone@miamism.com

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