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Keystone Point Real Estate Market Report - July 2018

Ines Hegedus-Garcia
ines@miamism.com

How is the Keystone Point Real Estate Market Doing?

There are currently 50 Keystone Point homes for sale: (compared to 47 in June)

  • Highest priced listing: $5,900,000 for the new waterfront construction at 2380 Bayview Ln
  • Lowest priced listing: $685,000 for the 4/3, non-waterfront home at 1955 Alamanda Dr
  • Pending Sales (properties under contract): 5
  • Closed sales in July: 4 (compared to 5 in June)
  • Median Sales Price in July: $1,049,000

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

  • 2135 NE 124 St - non-waterfront home with 3 bedrooms / 3 bathrooms, 2,280 SF of living space on 11,250 SF lot. Listed in March for $739,999 and sold for $685,000. ($300/SF)
  • 2135 Arch Creek Dr - waterfront home with 3 bedrooms / 2 bathrooms, 2,138 SF of living space on 9,375 SF lot with 75' of water frontage.  Listed for $849,000 in January and sold for $800,000 ($374/SF)
  • 13225 Arch Creek Ter - waterfront home with 4 bedrooms / 3 bathrooms, 3,406 SF of living space on 9,375 SF lot with 75' of water frontage. Originally listed for $1,4495,000 in February of 2017, had a few price reductions and real estate agent changes and sold for $1,200,000 ($352/SF) **CASH transaction
  • 12810 Cyprus Rd - waterfront home with 4 bedrooms / 3.5 bathrooms, 2,760 SF of living space on 9,375 SF lot with 75' of water frontage. Listed for $1,350,000 in March of 2018 and sold for $1,299,000 ($426/SF) **CASH transaction

Keystone Point Price per Square Foot

The average sold price per square foot in Keystone Point in July for homes on the water was $384 compared to previous months:

  • June's average $418
  • May's average $387
  • April's average $462 **one sale
  • March's average $480
  • February's average $447
  • January's average $565
  • 2017's average of $421

Inventory has started to increase slightly in the last couple of months and sales have slowed down.  More supply and less demand is bound to push down pricing a bit.  The Keystone Point real estate market usually picks up after school starts so we'll keep a close eye to see if trends continue to favor buyers.  It's the time to price correctly if you want to sell, overpricing will just make your home become stagnant.

The Market Action Index, which we provide in our weekly "real-time" market reports, remains unchanged at 23 which shows that buyer's have a slight advantage. If this number decreases, then we will surely see price decreases.

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.

Keystone Point House of The Month

This month, The Miamism Sales Team recommends the home located at 2375 Arch Creek Dr.  Completely remodeled 50's construction with great curb appeal, 3 bedrooms / 2 bathrooms, 2,541 SF of living space, average 9,375 SF lot and 75' of water frontage. This home has a new kitchen, impact windows and doors and 65' dock with direct ocean access.

It's offered at $1,470,000 ($579/SF)   **click HERE for more information or see below.


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