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Keystone Point Real Estate Market Report - August 2020

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 30 Keystone Point homes for sale: (compared to 32 last month)

  • Highest priced listing: $2,800,000 for modern 4/5 home at 2350 Magnolia Dr., with 75' of water frontage, 4,028 SF on 9,375 SF lot.
  • Lowest priced listing: $619,900 for the non-waterfront 3/3 at 1945 Alamanda Dr with 1,849 SF on 8,400 SF lot.
  • Pending Sales (properties under contract): 11
  • Closed sales in August: 8 (compared to 4 in July)
  • Median Sales Price in August: $925,000

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

The Keystone Point homes sold in August were the following:

  • 2010 Alamanda Dr - dry lot home (non-waterfront) with 3 bedrooms / 2 bathrooms, 1,635 SF on 9,375 SF lot. Remodeled home, listed for $799,000 in May and sold for $745,000 ($439/SF)
  • 2185 NE 124th St - dry lot home (non-waterfront) with 4 bedrooms / 3 bathrooms, 2,117 SF on 11,250 SF lot. Home was purchased for $462,500 in April of 2019, was remodeled and listed for $875,000 in August of 2020 and sold for $849,000 ($389/SF)
  • 2115 Keystone Blvd - waterfront home with 2 bedrooms / 2 bathrooms, 2,093 SF on 10,283 SF with 75' of water frontage. Originally listed for $1,050,000 in September of 2019, lowered a couple of times and selling for $950,000 ($508/SF)
  • 1892 NE 124th St - waterfront home with fixed bridge, 4 bedrooms / 3 bathrooms, 2,312 SF on 11,250 SF lot with 75' of water frontage. Originally listed for $1,185,000 in September 2019, lowered a few times and sold for $950,000 ($404/SF) **cash transaction
  • 12710 Hickory Rd - waterfront home with 3 bedrooms / 3 bathrooms, 2,226 SF on 9,579 SF lot with 75' of water frontage. Listen in October of 2019 for $1,100,000 and sold for $900,000 ($502/SF) **cash transaction
  • 13005 Keystone Terrace - waterfront home with 4 bedrooms / 3 bathrooms, 3,254 SF on 9,500 SF lot with 76' of water frontage. Originally listed for $1,550,000 in January of 2019, had several price reductions, MLS showing a couple of contracts that fell through and finally sold for $1,320,000 ($498/SF) **cash transaction
  • 2270 Bayview Ln - waterfront home with 5 bedrooms / 4 bathrooms, 3,063 SF on 9,375 SF lot with 75' of water frontage. This house was purchased for $1,450,000 in November of 2019, placed on the market for $1,700,000 in June of 2020 and closed for $1,575,000 ($511/SF)
  • 12905 Ixora Rd - waterfront home with 3 bedrooms / 3 bathrooms, 2,924 SF on 12,300 SF lot with over 200' of water frontage (corner waterfront lot).  Listed in September 2019 for $1,650,000 and sold for $1,485,000 ($470/SF)

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

Keystone Point Average Price per Square Foot

The average sold price per square foot in Keystone Point, for homes on the water, in August was $482. The average price in past months:

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

Keystone Point Real Estate Market Breakdown

Keystone's real estate market continues to strengthen little by little.  The changes are not drastic but we are seeing a slight decrease in inventory, with a few more sales which ultimately equate to higher prices.  But please don't interpret this to mean that you can overprice your home - it means that instead of 10 months, it's now taking 8 months for inventory to be absorbed.  It means that average price per sq.ft. has increase to $445 from $432.  Baby steps are a good sign, but they are still baby steps.

Take a look at what price range is selling the most in Keystone Point - we're talking homes priced between $1 - $1.5 Million. And micro data shows that that price range sells at an average of $455/SF with an average discount of only 4%.

It's also interesting to point out that 39.5% of buyers pay cash ad 77.3% buy as primary residences, meaning they will live and occupy the house.  This is great information for those looking for an area with little transient traffic and vacation home owners.

Download our free 8-page report with averages, absorption rates, per bedroom analysis and robust stats by CLICKING HERE. [or contact us and we'll be happy to email it to you]

Featured Keystone Point Home For Sale

The Keystone Point home pictured above is located at 12914 Banyan Rd.  It's a remodeled home with 4 bedrooms / 4.5 bathrooms, over 3,000 sq.ft. of living space,  10,200 sq.ft. lot and 75' of water frontage.  This home has very unique design issues including double stainless steel front doors; open, modern kitchen with Onyx countertops; covered summer kitchen perfect for entertaining and no fixed bridges to ocean access.

Asking price is $1,899,000 ($621/SF)

Please contact us for additional information for this and all homes in Keystone and surrounding areas.  We are your architecture REALTORS, ready to help yo with all of your real estate needs.


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