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Keystone Point Real Estate Market Report - June 2017

Ines Hegedus-Garcia
ines@miamism.com

Keystone Point Real Estate Market Report

There are currently 41 Keystone Point homes for sale: (compared to 40 in May)

  • 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: $469,040 for the 3 bedroom / 2 bathroom auction, as-is home at 12630 Ixora Rd **see info below
  • Pending Sales (properties under contract): 1
  • Closed sales in June: 9 (compared to 7 in May)
  • Median Sales Price in June:  $887,500

The 9 Keystone Point homes that sold in June were the following:

  • 1970 Keystone Blvd - dry lot (non-waterfront home) with 3 bedrooms / 2 bathrooms, 1,699 SF on 8,400 SF lot - originally listed in November of 2016 for $575,000 and selling for $470,000 ($277/SF)
  • 2213 Keystone Blvd - waterfront home with 2 bedrooms / 2.5 bathrooms, 3,033 SF on 12,341 SF lot with 180' of water frontage. Originally listed for $799,000 in May of 2017 and sold for $650,000 ($265/SF)
  • 2025 Keystone Blvd - waterfront home with 3 bedrooms / 2 bathrooms, 2,510 SF on 10,125 SF lot with 75' of water frontage. Originally listed for $911,000 in June of 2016 and selling for $805,000 ($321/SF)
  • 1855 NE 124 St - dry lot (non-waterfront home) with 4 bedrooms / 3.5 bathrooms, 3,963 SF on 17,469 SF lot - originally listed for $965,000 in December of 2016 and selling for $875,000 ($226/SF)
  • 2135 Alamanda Dr - dry lot (non-waterfront home) with 4 bedrooms / 2 bathrooms, 2,909 SF on 22,078 SF lot - listed for $949,000 in March and sold for $887,500 ($313/SF)
  • 1835 Keystone Blvd - waterfront home with 2 bedrooms / 2 bathrooms, 1,622 SF on 15,362 SF lot with 110' of water frontage.  Listed in January for $1,024,000 and selling for $925,000 ($570/SF)
  • 2260 Arch Creek Dr - previously featured home here in Miamism.com - waterfront with 4 bedrooms / 3 bathrooms, 3,781 SF on 9,375 SF lot with 75' of water frontage. Originally listed for $1,250,000 in April of 2016 and selling for $1,000,000 ($330/SF)
  • 13100 Keystone Ter - waterfront home with 5 bedrooms / 5 bathrooms, 3,275 SF on 9,750 SF lot with 78' of water frontage. Originally listed in April of 2016 for $1,399,000 and selling for $1,290,000 ($394/SF)
  • 13005 Coronado Ln - waterfront home with 5 bedrooms / 3.5 bathrooms, 4,336 SF on 9,500 SF lot with 76' of water frontage. Originally listed in May of 2015 for $2,390,000 with several price reductions and contracts but finally selling for $1,950,000 ($450/SF)

Keystone Point Price per Square Foot

The average price per square foot for Keystone Point Homes on the water in June was $388 compared to previous months:

  • May average $388
  • April average $372
  • March average $475
  • February average $428
  • January average $462
  • 2016's average  of $432.

The average price per square foot for homes not on the water in June in Keystone Point was $272.

Because we have hit the mid point of 2017, it's good to look at the year's stats for the first half of the year as well. Appraisers will usually look back 3 months and will go to 6 months if they cannot find enough comps.  As I've said many times before, to really scrutinize a market, you need to look at a minimum of 6 months of movement to make a fair assessment of the market.

Keystone Point is a bit trickier than the normal neighborhood.  Although it's small, the location, size of canal, size of lot and condition of the property will make a HUGE difference in price.

The average price per square foot for Keystone Point homes NOT on the water for the first half of 2017 is $272 compared to $287 in 2016.  A slight downward trend shows a stable market but it's important to keep an eye on these numbers and see what the end of the year brings.

The average price per square foot for Keystone Point homes on the water for the first half of 2017 is $433 compared to $432 in 2016.  This shows a clear stable market - when many areas of Miami are seeing drastic decreases, Keystone is remaining the same.  Remember it's a shifting market and also pay close attention at the inventory sold.  Homes in good condition are still selling for top dollar because the inventory is scarce.

Don't forget 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 12880 Maple Rd.  Beautiful mid-century modern with great finishes and gorgeous features throughout, including perfect covered porch by pool area and dock.  This 4 bedroom, 4 bathroom home sits on 12,500 SF lot with 100' of water frontage.  

It's being offered at $1,749,000 ($521/SF) and you can see more photos and property information below. Contact us to schedule a private showing appointment.


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