How is The Keystone Point Real Estate Market Doing? February 2016

Keystone Point Real Estate Market Report

There are currently 41 Keystone Point homes for sale: (compared to 35 in January)

• Highest priced listing: $5,290,000 (open bay Mediterranean estate located at 12485 Keystone Island Dr)
• Lowest priced listing: $549,900 – 2/3 with 1,753 sq.ft. at 1840 Alamanda Dr
• Pending Sales (properties under contract): 8
• Closed sales in February 2016: 6 (compared to 4 in January)
• Median Sales Price in February $980,000

The 6 Keystone Point homes sold in February were the following:

• 12902 Ixora Rd – 3 bedrooms / 2 bathrooms with 1,529 SF of living space on 10,625 SF lot – (not on the water).  Originally listed in October 2015 for $589,000 and selling for $450,000 ($294/SF)
• 1800 Keystone Bl – 3 bedrooms / 2 bathrooms with 1,648 SF of living space on 9,900 SF lot – (not on the water). Listed in September 2015 for $699,000 and selling for $630,000 ($382/SF)
• 2140 Alamanda Dr – 3 bedrooms / 2.5 bathrooms with 2,477 SF of living space on 9,375 SF lot – (not on the water). Originally listed in August 2015 for $975,000 and selling for $800,000 ($323/SF)
• 2080 S Hibiscus Dr – 3 bedrooms / 2 bathrooms with 1,983 SF of living space on 10,848 SF lot – canal front.  Originally listed for $1,200,000 in April of 2015 and selling for $1,160,000 ($585/SF)
• 2355 Magnolia Dr – 4 bedrooms / 3 bathrooms with 2,566 SF of living space on 9,275 SF lot – canal front. Originally listed in July 2015 for $1,499,000 and selling for $1,340,000 ($522/SF)
• 2350 Magnolia Dr – 4 bedrooms / 5 bathrooms with 4,021 SF of living space on 9,375 SF lot – canal front. Originally listed for $2,995,000 in August of 2015 and selling for $2,450,000 ($609/SF)

The average price per square foot for waterfront Keystone Point Homes in February was $572, compared to $528 in January and last year’s average of $441.  The average price per square foot for non-waterfront homes was $333. Location plays a huge role in selling price when it comes to Keystone Point.  Not all waterfront homes were created equal!! The further East you, go, the more you will pay. Call us if you are thinking about buying or selling in Keystone or know of someone that can benefit from an Architecture REALTOR – we’ll be happy to provide a no obligation consultation. Call us Today for a listing appointment! If you are interested in getting a list of all properties currently for sale in Keystone Point, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at Keystone@miamism.com