keystone-point-real-estate-market-report-february-2020

Keystone Point Real Estate Market Report – February 2020

Leave a comment

How is the Keystone Point Real Estate Market Doing?

There are currently 47 Keystone Point homes for sale: (compared to 48 last month)

  • Highest priced listing: $2,650,000 for the 2014 home at 1955 Ixora Rd with 5 bedrooms / 4 bathrooms, 8,925 SF and 75′ of water frontage.
  • Lowest priced listing: $579,000 $549,000 for the non-waterfront home at 1905 Alamanda Dr – 3 bedrooms / 2 bathrooms
  • Pending Sales (properties under contract): 4
  • Closed sales in February: 4 (same as in January)
  • Median Sales Price in February: $1,299,500

The Keystone Point homes sold in February were the following:

  • 12855 N Bayshore Dr – remodeled home with 3 bedrooms / 3 bathrooms, 2,351 SF on 9,375 SF lot with 75′ of water frontage.  Listed for $1.2 M in January of 2019 and selling for $1,100,000 ($674/SF)
  • 13255 Keystone Ter – large 5 bedrooms / 4.5 bathrooms, 4,081 SF on 12,912 SF lot with 160′ of water frontage. Originally listed for $1,995,000 in July of 2018, with several price reductions and selling for $1,200,000 ($323/SF) **cash transaction
  • 13150 Biscayne Bay Ter – 4 bedrooms / 3 bathrooms, 3,150 SF on 9,750 SF lot with 78′ of water frontage. Listed for $1,499,000 in July and selling for $1,360,000 ($432/SF)
  • 2360 Bayview Ln – 2017 home with 5 bedrooms / 5.5 bathrooms, 4,203 SF on 9,375 SF lot with 75′ of water frontage. Originally listed for $3,595,000 in November of 2018, had several price reductions and sold for $3,250,000 ($878/SF) **cash transaction

The average sold price per square foot in Keystone Point, for homes on the water, in February was $577. The average price in past years:

Keystone Point continues to be a buyer’s market with 16 months of inventory.  Please keep this in mind if you are a seller, because at the current rate of sales, it would take 16 months to see everything that is listed right now.  There’s also an average discount of 9%, which is the difference between listing and sales price.  The average selling price right now is $1.2 Million.

What makes the Keystone Point real estate market different than any other in South Florida is that buyers are not from overseas, they are local! There’s only a 20% investor ratio in Keystone and 67% of all transactions are financed.  This information is key when you are ready to market your property for sale.  And the good news is that we are here when you are ready.

Keystone Point continues to offer the most affordable waterfront living in South Florida and its proximity to Miami Beach, airports and major entertainment, as well as its guard gates, makes it extremely desirable.

Take a look at our new reports with averages, absorption rates, per bedroom analysis and robust stats by CLICKING HERE. 

If you want a no-obligation home value report for your property, please visit MiamismVALUE.com and we’ll be happy to send you a personalized report. Or you can simply call me, I do answer my phone (305) 206-9366.

Leave a Reply