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Keystone Point Real Estate Market Report - September 2020

How is the Keystone Point Real Estate Market Doing?

There are currently 27 Keystone Point homes for sale: (compared to 30 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): 8
  • Closed sales in September: 9 (compared to 8 in August)
  • Median Sales Price in September: $900,000

DOWNLOAD KEYSTONE POINT 3-D MARKET ANALYZER REPORT HERE

The Keystone Point homes sold in September were the following:

  • 2310 Magnolia Dr - 5 bedrooms / 3.5 bathrooms, 2,802 SF on 9,375 SF lot with 75' of water frontage. Originally listed for $1.8 Million in October of 2019 and selling for $1,550,000 ($445/SF)
  • 12700 N Bayshore Dr - 3 bedrooms / 3 bathrooms, 2,193 SF on 9,375 SF lot with 75' of water frontage. Listed for $1,250,000 in November of 2019 and sold for $1,150,000 ($529/SF) **cash transaction
  • 2005 Keystone Blvd - 3 bedrooms / 2 bathrooms, 1,753 SF on 10,282 SF lot with 81' of water frontage. Listed for $1,200,000 in March of 2019 and sold for $1,050,000 ($599/SF)
  • 1985 Ixora Rd - 3 bedrooms / 2 bathrooms, 2,056 SF on 8,550 SF with 75' of water frontage. Listed for $975,000 in December of 2019 and sold for $900,000 ($438/SF) **cash transaction
  • 1880 NE 124th St - 3 bedrooms / 2 bathrooms, 1,970 SF on 11,250 SF lot with 75' of water frontage (fixed bridge). Listed for $949,000 in June of 2020 and sold for $870,000 ($517/SF)
  • 2223 Keystone Blvd - FIXER UPPER sold for land value with 3 bedrooms / 2 bathrooms, 2,100 SF on 10,625 SF lot with 85' of water frontage. Listed for $998,000 in August of 2020 and sold for $780,000 ($351/SF) **cash transaction <<crazy deal!
  • 13040 Ortega Lane - KNOCK DOWN with 3 bedrooms / 2 bathrooms, 1,835 SF on 9,375 SF lot with 75' of water frontage. Listed for $850,000 in October of 2020 and sold for $775,000 ($507/SF) **cash transaction
  • 2006 NE 124th St - TEAR DOWN with 3 bedrooms / 2 bathrooms, 1,501 SF on 11,250 SF lot with 75' of water frontage (fixed bridge). Originally listed for $875,000 in March of 2018.  It was on and off the market, decreased a few times, MLS shows one contract that fell through and finally sold for $765,000 ($593/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 September was $497. 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 and we are now in a balanced market where neither buyer or seller have an upper hand.  Notice sales from last month, even fixer uppers are selling for top dollar.  Keystone's sweet spot is around the $1.3 Million price range and the average discount (from listing to final sales price) is 9% - we foresee this to change as pricing becomes more competitive.

Keystone remains an area with primary home residents with only 21.6% of buyers being investors, second home owners or vacation owners.  Half of all purchases are cash, so that will not give you an advantage when buying in the area.  Another interesting fact is that 77.8% of all listings sold in the last 12 months, offered 3% or more cooperating commission (if you are a seller looking to offer less, you may want to reconsider) - but obviously these are always numbers that can be negotiated and never fixed.

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 13085 Ortega Ln.  Immaculate home built in 2016 with 4 bedrooms / 4 bathrooms, 4,198 Sq.Ft. of space on a 9,375 Sq.Ft. lot with 75' of water frontage. This is a perfect Miami home with Florida Vernacular architecture influences - porches and double height areas as well as simple distribution that makes sense.

It was originally listed for $2,480 in April of 2019 and current asking price is at $2,350,000 ($560/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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