How is the Keystone Point Real Estate Market Doing?
There are currently 25 Keystone Point homes for sale: (compared to 24 last month)
- Highest priced listing: $3,290,000 – under construction home at 13040 Ortega Lane with 5 bedrooms / 6 bathrooms, 5,371 sq.ft. – estimated time of completion is early 2022 ($613/SF)
- Lowest priced listing: $498,888 for the non-waterfront 2/1 at 1920 Keystone Blvd.
- Pending Sales (properties under contract): 8
- Closed sales in November: 5 (compared to 4 in October)
- Median Sales Price in November: $860,000
The Keystone Point homes sold in November were the following:
- 12580 Palm Rd – dry lot home with 3 bedrooms / 2 bathrooms, 1,880 SF on 11,834 SF lot. Listed for $595,000 in August and sold for $578,000 ($359/SF) **cash transaction
- 12580 Croton Rd – dry lot home with 3 bedrooms / 3 bathrooms, 1,520 SF on 9,040 SF lot. Originally listed in July of 2019 for $774,000, lowered to $699,000 and sold for 670,000 ($400/SF)
- 1980 NE 124th St – canal front home with 1 fixed-bridge – 3 bedrooms / 2 bathrooms, 1,832 SF on 11,250 SF lot with 75′ of water frontage. Originally listed for 915,000 in August, increased in price twice to $950,000, MLS shows contract that fell through and property sold for $860,000 ($640/SF)
- 2253 Keystone Blvd – waterfront home with 5 bedrooms / 4 bathrooms, 3,898 SF on 9,375 SF lot with 75′ of water frontage. This home was listed for $2,125,000 in June, was increased to $2,219,000, then decreased to $2,145,000 and sold for $2,065,000 ($544/SF) **cash transaction
- 2350 Magnolia Dr – new waterfront modern construction from 2014. 4 bedrooms / 5 bathrooms, 4,028 SF on 9,375 SF lot with 75′ of water frontage. This home was purchased for $2,450,000 in February of 2016, it was listed for sale for $2.8 Million in November of 2018, then again in August of 2020 for the same $2.8 Million. It sold for $2,625,000 ($700/SF) **cash transaction
Keystone Point Average Price per Square Foot
The average sold price per square foot in Keystone Point, for homes on the water, in November was $628. The average price in past months:
- October’s average $574
- September’s average $497
- August’s average $482
- July’s average $445
- June’s average $496
- May’s average $506
- April’s average $475 (one sale)
- March’s average $406 (one sale)
- February’s average $577
- January’s average $469
- 2019’s average of $416
Keystone Point Real Estate Market Breakdown
Keystone is not fluctuating between a balanced market and a seller’s market and this is in direct correlation to rate of closings and inventory. The benchmark above shows stats for the last 12 months and shows a slight reduction in price per square foot to $486, a balanced market with 6 months of inventory and average sales price of $1.3 Million.
Did you know that 43.5% of all closings are cash? Also, 74.5% of all sales are for primary residences which says a lot about a true residential neighborhood. Keystone remains one of the lease expensive waterfront areas in Miami and hence the interest, especially those people in neighboring cities not on the water that want to upgrade to waterfront living.
Featured Keystone Point Home For Sale
The Keystone Point home pictured above is located at 12935 Ixora Rd. Beautifully remodeled home with 4 bedrooms / 4 bathrooms, 2,721 sq.ft. on 10,275 sq.ft. lot. It has 75′ of water frontage and great exterior area with Chickee Hut and summer kitchen.
Reduced from $1,595,000 to $1,575,000 ($579/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.