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Keystone Point Real Estate Market Report - July 2019

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 47 Keystone Point homes for sale: (compared to 49 in June)

  • Highest priced listing: $5,195,000 for the bay-front corner lot at 12600 Biscayne Bay Dr with 265' of water frontage
  • Lowest priced listing: $499,000 for the non-waterfront home at 1905 Alamanda Dr.
  • Pending Sales (properties under contract): 10
  • Closed sales in July: 6 (compared to 4 in June)
  • Median Sales Price in July: $1,337,500

The Keystone Point homes sold in July were the following:

  • 1935 NE 124 St - unfinished dry lot construction needing approximately $300,000 left of work according to marketing description.  4 bedrooms / 3 bathrooms.  Listed for $499,900 and selling for $475,0.00 **CASH Transaction
  • 12610 Hickory Rd - Foreclosure sold at auction with 3 bedrooms / 4 bathrooms, 3,682 SF on 13,331 SF lot.  Listed for $1,140,000 and Sold for $1,137,308 ($309/SF) **cash transaction
  • 12990 Keystone Ter - 4 bedrooms / 3 bathrooms, 3,085 SF on 12,500 SF lot with 100' of water frontage. Originally listed for $1,650,000 in December of 2018, had several price decreases and sold for $1,275,000 ($413/SF) **cash transaction
  • 12990 Arch Creek Ter - Architectural gem that had been listed since June of 2017 with 4 bedrooms / 3.5 bathrooms, 3,447 SF on 17,131 SF lot and 30' of water frontage. Sold for $1,400,000 ($469/SF) **cash transaction
  • 12995 Keystone Ter - Modern and remodeled home with 4 bedrooms / 4 bathrooms, 3,446 SF on 12,500 SF lot with 100' of water frontage. Originally listed in July of 2018 for $2,200,000, had several price reductions and sold for $1,565,000 ($532/SF)
  • 13150 Keystone Ter - Beautifully remodeled home with 5 bedrooms / 4.5 bathrooms, 3,721 SF on 9,750 SF lot with 78' of water frontage. Listed for $2,850,000 in February and sold for $2,600,000 ($672/SF)

Keystone Point Price per Square Foot

The average sold price per square foot in Keystone Point, for homes on the water, in July was $479. The average price per square foot in the last 2 years has been:

Keystone Point's  Market Action Index remained the same, at 25, which shows:

Slight Buyer's Advantage

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Did you know that Keystone Point is one of the true local markets in South Florida?  83.3% of homes are owner occupied as primary residences with no international buyers and 33% of sales being cash.  These factors are key when getting ready to market your home for sale since identifying buyer audience will help achieve best results.

3 bedroom homes have been selling at an average of $415/SF, compared to $358/SF for 4 bedroom homes.  Take a look at area benchmarks which show that the average discount in Keystone Point is 9%.

Take a look at our new reports with averages, absorption rates, per bedroom analysis and robust stats by CLICKING HERE. 

If you want a no-obligation home value report for your property, please visit MiamismVALUE.com and we’ll be happy to send you a personalized report. Or you can simply call me, I do answer my phone (305) 206-9366.

To see our real-time market reports, please visit MiamismTrends.com or Click HERE.


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