Luxury Real Estate sales are booming in Rosemary Beach, Seaside, WaterSound, WaterColor and Destin
High end luxury homes sales are booming in 2011 along Scenic 30A, Destin and Miramar Beach. Even as many properties struggle with underwater mortgage loans, high end luxury homes in South Walton Beach are doing very well. Luxury developments of Rosemary Beach, WaterSound Beach, WaterColor, Seaside and Sandestin are having record sales of ultra luxury homes at $2mil and above.
Rosemary Beach is leading the pack with 8 of the 25 homes that have sold in 2011 year to date over$2mil. Four homes in Rosemary Beach top the most expensive list over $4mil with the following homes selling:
Rosemary Beach Homes sold over $4mil in 2011
- 20 Cartegena Lane in Rosemary Beach sold for $4.75 million in July 2011
- 24 Briland Lane in Rosemary Beach sold for $7.25 million in July 2011
- 78 South Green Turtle in Rosemary Beach sold for $7.33 million in July 2011
- 124 Hope Town Lane in Rosemary Beach sold for $8.1 million in April 2011
There are currently 11 homes over $2mil under contract and in the process to close. Many of the ultimate luxury homes are massive in size. For example, at 6,846sf 4304 Breakwater Drive in Kelly Plantation is a sprawling luxury residence. The largest luxury home to sell is 627 Gulf Shore Drive in Holiday Isle a massive waterfront luxury home at 12,250sf!
Of the 25 homes that have sold and the 11 homes that are currently under contract only 6 are distressed properties as either a short sale or bank owned property. This is an excellent indicator as to the health of our luxury real estate. Across all price points we are experiencing a decline in distressed real estate inventory as short sales and REOs have been selling at a frenzied pace in 2011.
As financing ultra high end luxury homes becomes a challenge, buyers and sellers are getting creative. A few of the luxury homes sold in this list involve the swapping or trading of other real estate assets in addition to a financial contribution.
South Walton Beach has not been the only area experiencing some stellar high end real estate transactions. In Marh billionaire investor Yuri Milner paid $100 million for a Silicon Valley Estate, breaking previous purchase price records in the US. In mid-July, billionaire heiress Petra Ecclestone became the new owner of the Spelling Manor — an estate whose $150 million asking price had garnered it the title of America’s most expensive home for sale. Just days later, a new property is taking over that “most expensive” title: the $175 million Jackson Land & Cattle ranch.
For more info on 30A Real Estate please call Tracy Baranowski 850.259.4270 or Craig Baranowski 850.259.1788. For more info on Destin and Miramar Beach Real Estate please call Danny Margagliano 850-830-4747 or Email us @ firstname.lastname@example.org