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Keystone Point Real Estate Market Report - May 2020

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 39 Keystone Point homes for sale: (compared to 38 in April)

  • Highest priced listing: $3,390,000 for the new construction at 12685 Hickory Rd with 6 bedrooms / 6.5 bathrooms and 10,498 SF lot with 130' of water frontage.
  • Lowest priced listing: $508,800 $483,400 $459,300 for the non-waterfront fixer-upper at 2100 Alamanda Dr with 4 bedrooms / 2 bathrooms and 9,375 SF lot.
  • Pending Sales (properties under contract): 5
  • Closed sales in May: 4 (compared to 1 in April)
  • Median Sales Price in May: $930,000

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

The Keystone Point homes sold in May were the following:

  • 2130 Alamanda Dr - completely renovated 3 bedrooms / 3 bathrooms with 1,715 SF on 9,375 SF lot with 75' of water frontage. Listed in December for $749,000 and sold for $715,000 ($497/SF)
  • 2130 NE 124th Street - 3 bedrooms / 2 bathrooms with 2,386 SF on 11,250 SF lot with 75' of water frontage with one fixed bridge to the bay. Originally listed for $929,000 in July of 2018.  Was lowered, cancelled, relisted and lowered a number of times and sold for $810,000 ($339/SF) **cash transaction
  • 2180 NE 124th Street - turnkey home (completely remodeled) with 3 bedrooms / 2 bathrooms, 1,582 SF on 11,250 SF lot with 75' of water frontage with one fixed bridge to the bay. Originally listed for $1,450,000 in June of 2019, shows as rented and then relisted for $1,150,000 in March of 2020 and sold for $1,050,000 ($640/SF) **cash transaction
  • 12930 Oleander Rd - beautifully remodeled home with 3 bedrooms / 2 bathrooms / 2 half-bathrooms, 2,326 SF on 8,550 SF lot with 75' of water frontage.  Listed for $1,450,000 in September of 2019 and sold for $1,300,000 ($548/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 May was $506. The average price in past months:

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

Keystone Point Real Estate Market Breakdown

Demand continues to increase and inventory is staying unchanged which may be an indicator of future price increases. We are seeing a clear increase in average price per square foot but please remember that condition and location within Keystone will be a huge factor in knowing where your price range will be.  How far away are you from the bay, do you have fixed bridges? Are you on one of the most trafficked roads?  This is why working with someone that knows the small details is key - these are not trivial when it comes to negotiating.

Keystone Point continues to be a buyer's market with approximately 12 months of inventory and average discount price of 9%.  Did you know we also have data about listing agent's negotiating history to help you when you are buying?  

Only 21% of all buyers are second home owners or investors.  Keystone remains a primary residence market which makes it a real community and a boater's community, at that.

The market looks positive for Keystone with regards to recovery and appreciation.  As always we will continue reporting on the third week of every month. 

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

The waterfront home above is located at 12935 Ixora Rd.  It's listed for $1,595,000 and has 4 bedrooms / 4 bathrooms and 80 feet of water frontage.  Living area is 2,721 sq.ft. and lot size is 10,275 sq.ft.

MLS description reads as follows:

Beautiful 4 bedroom 4 bath waterfront home is completely remodeled top to bottom with no expense spared. Offering an open floor plan with nearly 3,000 square feet of generous living space. Entertain family and guest with ease from the freshly fitted gourmet kitchen featuring stainless steel appliances, LED lighting, Six burner gas stove set perfectly a top porcelain floors. A true outdoor living space finishes out the design with large 16x30 Chikee Hut, and summer kitchen (Brand new pool heater )

Contact us for additional information on this and any Keystone Point Home for sale.


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