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Keystone Point Real Estate Market Report - April 2017

Ines Hegedus-Garcia
ines@miamism.com

Keystone Point Real Estate Market Report

There are currently 47 Keystone Point homes for sale: (compared to 51 in March)

  • Highest priced listing: $6,300,000 (for the new construction with 240' of water frontage at 12395 Keystone Island Dr)**see info below
  • Lowest priced listing: $450,000 $425,000 for the home at 1945 S Hibiscus Dr (see below)
  • Pending Sales (properties under contract): 7
  • Closed sales in April: 6 (compared to 4 in March)
  • Median Sales Price in April:  $945,000

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

  • 2150 NE 124 St - 3 bedrooms / 3 bathrooms, 2,369 SF on 11,250SF lot with 121' of water frontage - originally listed for $1,099,000 in November of 2015, with several price reductions and selling for $745,000 ($314/SF)
  • 12459 Keystone Rd - 6 bedrooms / 5 bathrooms, 2,806 SF on 9,559 SF lot wit 76' of water frontage - listed for $875,000 in November of 2016 and selling for $840,000 ($299/SF)
  • 1970 NE 124 St - 3 bedrooms / 3 bathrooms, 2,004 SF on 11,250 SF lot with 75' of water frontage - listed for $949,870 and selling for $880,000 ($439/SF)
  • 13250 Keystone Ter - 4 bedrooms / 3 bathrooms, 3,188 SF on 9,750 SF lot with 78' of water frontage - listed for $1,185,000 and selling for $1,010,000 ($429/SF)
  • 13305 Biscayne Island Ter - 4 bedrooms / 3 bathrooms, 3,195 SF on 14,878 SF corner lot with over 200' of water frontage - originally listed for $1,395,000 in September of 2016 and selling for $1,100,000 ($386/SF)
  • 12385 Keystone Island Dr - 4 bedrooms / 4 bathrooms, 3,869 SF on 18,960 SF lot with 152' of direct bay frontage - originally listed for $2,290,000 in June of 2015, with several price reductions and finally selling for $1,410,017 ($364/SF)  **this property is back on the market for $3,000,000 (see info below)

Keystone Point Price per Square Foot

The average price per square foot for Keystone Point Homes on the water in April was $372 compared to previous months:

Although April's average shows a decrease in price, please note that it has to do with the type of inventory that sold and not a reflection of the overall market.  We always tell our clients to look at the overall picture and not focus on irrelevant data.  This means that it is important to look back at least 6 months and it's crucial to compare data to last year's numbers to see improvement, stagnation or deterioration of a real estate market.

There is a decrease in inventory in Keystone Point and number of sales remains steady - this is a sign that the market is stabilizing, not tumbling.  Let's keep an eye out to see what the future brings, but remember we also offer REAL-TIME market reports to help you stay on top of the pulse.  For Keystone Point Real-Time market reports, go HERE or you can also go to MiamismTRENDS.com for other areas.

Keystone Point House of The Month

This month, The Miamism Sales Team recommends the home located at 2260 Arch Creek Dr.  A contemporary home with 4 bedrooms / 3 bathrooms, 3,781 SF of living space on 9,,375 SF lot with 75' of water frontage.  This home was built in 1960 and is one of Keystone's unique, modern homes.  I would probably remove the screened-in porch and make the modern features of the house stand out, but that's obviously the buyer's choice.

The home is listed for $1,195,000 - please see information below

 


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