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Keystone Point Real Estate Market Report - July 2020

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 32 Keystone Point homes for sale: (compared to 39 last month)

  • Highest priced listing: $2,800,000 for modern 4/5 home 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): 14
  • Closed sales in July: 4 (compared to 3 in June)
  • Median Sales Price in July: $1,400,000

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

The Keystone Point homes sold in July were the following:

  • 2120 Alamanda Dr - non-waterfront home with 4 bedrooms / 3 bathrooms, 3,181 SF on 9,375 SF lot. Originally listed for $859,000 in July of 2018, had a few price reductions and listing changes.  It was relisted for $617,500 in February, dropped to $584,900 and sold for $535,000 ($168/SF) **cash transaction
  • 2055 Keystone Blvd - waterfront home with 4 bedrooms / 4 bathrooms, 3,325 SF on 10,125 SF lot and 75' of water frontage. Originally listed for $1,500,000 in July of 2019, had a few price reductions and sold for $1,100,000 ($368/SF)
  • 2110 NE 124th St - waterfront home with fixed bridge, 5 bedrooms / 4 bathrooms, 3,927 SF on 11,250 SF lot with 75' of water frontage. Originally listed for $1,775,000 in June of 2018, had several price reductions and closed for $1,600,000 ($407/SF)
  • 12685 Hickory Rd - new modern construction on the water with 6 bedrooms / 6.5 bathrooms, 6,043 SF on 10,498 SF lot with 130' of water frontage. This home was listed in April for $3,390,000 and sold for $3,390,000 ($561/SF) **cash transaction

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 July was $445. The average price in past months:

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

Keystone Point Real Estate Market Breakdown

Keystone Point stats are looking a little better with a slight decrease in inventory, but still showing a buyer's market with 10 instead of 13 months of inventory.   Remember it's key to look at location and condition of sales and compare apples to apples.  This month, we saw a disparity in sales with homes on the water but with fixed bridge access to the ocean, and age of construction.  This is the reason why it's key to work with an agent that knows the area well.

The price range that is moving in Keystone Point right now is between $1-$1.5 Million. 61% of deals are financed and buyers come from the U.S. and Argentina. What is interesting to point out is that this is a true community with 78.4% of residents owning their properties as primary homes, meaning they occupy them and are not just second or vacation homes like we see in a lot of Miami.

 

Although Keystone Point continues to be a buyer's market, the absorption rate dropped from 13 months to 10 months and average discount remains at 9%.

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 2253 Keystone Blvd.  It's a completely remodeled home with 5 bedrooms / 4 bathrooms, 3,898 SF of living area on a 9,375 SF lot with 75' of water frontage.  The home features a new dock, impact windows, metal roof, covered patio and beautiful features.  For additional photos and information, please contact us. It's offered at $2,145,000 ($550/SF) <<<amazing price for location and condition.


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