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Keystone Point Real Estate - monthly market report - August 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 18 homes for sale (compared to 19 last month):

  • Highest priced listing $7.35M for the open bay home at 13255 Biscayne Bay Drive with 102' of water frontage, 4 bedrooms / 3.5 bathrooms, 5,000+ square footage and chance to buy adjacent property as well ($1,458/SF)
  • Lowest priced listing $1,799,000 for the 4/2 waterfront home at 12951 Auralia Rd ($971/SF)
  • Pending Sales (Properties under contract): 14
  • Median Sales Price in August: $1,100,000
  • Closed Sales in August: 7( compared to 5 in July)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Keystone Point last month?

For a list of all properties sold in August please email us at Keystone@miamism.com

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What is the average price per square foot in Keystone Point?

The average sold price per square foot in Keystone Point in July for homes on the water was $765, compared to:

  • July's average $654/SF
  • June's average $829/SF
  • May's average $757/SF
  • April's average $687/SF
  • March's average $604/SF
  • February's average $563/SF
  • January's average $542/SF
  • 2020's average of $522/SF

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top 3 Sales in Keystone Point in August (by square footage)

  • 2021 New Construction - modern home at 13190 Biscayne Bay Ter, with 6 bedrooms / 5 bathrooms, 5,978 SF on 9,750 SF lot with 78' of water frontage. This home was listed for $6,750,000 in April and sold for $6.25 Million ($1,046/SF) **cash transaction
  • Corner waterfront home at 12500 N Bayshore Drive with 5 bedrooms / 5 bathrooms, 2,477 SF on 15,486 SF lot with 240' of water frontage! This home was originally listed for $1.75 Million in July of 2018 and was on and off the market, including a price increase to $1,850,000 in January of 2021 and finally sold for $1.85 Million ($747/SF) **cash transaction
  • Completely remodeled dry-lot home (not on the water) at 1940 N Hibiscus Dr with 4 bedrooms / 3 bathrooms, 1,797 SF on 8,475 SF lot. It was purchased for $440,000 in December of 2019 and remodeled - listed for $1.249 Million in May of 2021 and sold for $1.1 Million ($612/SF) **cash transaction

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Keystone Point Deep Market Stats

We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.

Some key points you should know:

  • Seller's market with 3 months of inventory at current rate of sales.
  • Average Sales Price increased to $1.6 Million
  • Sweet spot in sales are homes priced between $1 and $2 Million
  • 52.2% of all purchase are cash
  • 78.3% of all purchases are for primary residences
  • Average discount is 6% for all purchases in the last 12 months
  • Buyers are not just local and from other US states but also from Italy

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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