keystone-point-real-estate-market-report-august-2016

Keystone Point Real Estate Market Report – August 2016

 

Keystone Point Real Estate by Miamism.comKeystone Point Real Estate Market Report

There are currently 53 Keystone Point homes for sale: (compared to 48 in July)

  • Highest priced listing: $5,895,000 (open bay home with over 200′ of frontage at 12600 Biscayne Bay Dr)
  • Lowest priced listing: $469,040 – 3/2 foreclosure with 1,562 sq.ft. at 12630 Ixora Rd.
  • Pending Sales (properties under contract): 10
  • Closed sales in August 2016: 5 (compared to 1 in July)
  • Median Sales Price in August:  $1,130,000

The Keystone Point homes that sold in August were the following:

  • 2345 Biscayne Bay Dr – remodeled waterfront home on a canal, built in 1958 with 4 bedrooms / 3 bathrooms, 2,931 SF of living space on 9,375 SF lot – with 75′ of water frontage.  Originally listed for $1,518,000 in September of 2015, showing one pending sale that never closed and several price reductions.  Selling for $1,235,000 ($421/SF)
  • 13115 Biscayne Bay Ter – waterfront home on a canal, built in 1969 with 4 bedrooms / 3.5 bathrooms, 3,304 SF of living space on 15,244 SF lot.  Listed for $1,449,999 in May of 2016 and selling for $1,200,000 ($363/SF)
  • 13140 N Bayshore Dr – remodeled waterfront home on a canal, built in 1956 with 5 bedrooms / 4 bathrooms, 2,782 SF of living space on 9,375 SF lot – with 75′ of water frontage.  Listed for $1,295,000 in February and selling for $1,130,000 ($406/SF)
  • 12855 Mable Rd – foreclosure with unsafe dock, sold CASH ONLY on a canal with 75′ of water frontage.  3 bedrooms / 2 bathrooms with 2,568 SF and 9,375 SF lot.  Originally listed for $950,000 in February of 2015, showing a pending sale that never closed and several price reductions.  Selling for $910,500 ($355/SF)
  • 1840 Alamanda Dr – dry-lot home with 2 bedrooms / 2 bathrooms, 1,753 SF of living space and 9,375 SF lot.  Originally listed for $549,900 in March of 2016 and selling for $440,000 ($251/SF)

The Average price per square foot for Keystone Point Homes on the water in August was $386 compared to previous months:

  • July – no waterfront sales
  • June – $344
  • May – $452
  • April – no sales
  • March $411
  • February $572
  • January $528
  • 2015’s average $441

Keystone Point saw an increase in inventory this past month and we continue seeing a fluctuation in price per square foot from month to month.  We remind you that the average price per square foot depends on location, condition and size and it’s important to look at at least 6 months of averages, not just look at month to month scenarios. Waterfront properties are always in demand and there are people looking to upgrade to the water right now!  Keystone’s real estate market remains strong because it is the perfect neighborhood for those looking to upgrade and stay in a centralized location within Miami. We also have the ability to email you weekly market reports that are localized, easy to ready and provide you with a well-rounded up to date view of how the market is behaving.  The reports look like THIS and can be emailed directly to your inbox if you provide your contact information (we don’t share emails or spam and you can unsubscribe any time). We are officially in a correcting market, which means that if you are thinking of selling, you need to know exactly who your audience is and need to know your market well.  Feel free to contact us for a complimentary market analysis.

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