The new residents of Orlando’s most expensive residential property sold last week can catch views of the sunset over Lake Osceola from their master bedroom.
A 5,345-square-foot Winter Park home sold for $3.75 million on July 13, making it the priciest local home sale for the week ending July 18, according to the Orlando Regional Realtor Association. The five-bedroom, 5.5-bathroom home at 751 Bonita Dr. was on the market for 41 days, according to Realtor.com.
The residence features several fancy facets, including marble floors and 14-karat-gold leaf ceiling details in the entertainment room, stained glass and a hidden bar in the dining room and a spacious kitchen with a wine refrigerator. The home also has a covered patio that overlooks a pool and deck, as well as a boat house.
Local lakefront home inventory is limited, and this property drew significant interest when it hit the market, Julie Williams, Realtor with Winter Park-based Fannie Hillman & Associates Inc., told Orlando Business Journal. The agency represented the seller.
“This was a special house,” Williams said. “It was an easy sell.”
The buyer was represented by Orlando Luxury Homes Inc. in Lake Mary. Executives could not be reached for comment.
Luxury sales recover
High-end homes are turning heads and fetching offers locally, Williams said. In fact, the agency currently has three listings priced at over $1 million with multiple offers.
In Orlando, luxury home listings showed signs of recovery in June after an early pandemic drop-off. New high-end listings in the metro area were down 4.6% year-over-year last month but recovered 25.6% from May, according to Seattle-based real estate database Zillow Group Inc. (Nasdaq: ZG). That’s in line with a nationwide trend that saw a rush of luxury homes hit the market in June, according to Zillow.
Local housing activity is important because the sector often is considered a reflection of the overall health of the local economy. Plus, every home sale in the state has an estimated local economic impact of $77,858, according to a 2018 study by the National Association of Realtors.
Orlando home sales were on the rise in June. There were 3,103 homes sold in the region last month, down 9% from the 3,412 homes sold in June 2019, but up 45.9% from the 2,127 sold in May, according to the Orlando Regional Realtor Association.
Prices also saw a modest increase. The median home sales price was $265,000, up 6% from the June 2019 median price of $249,999 and up 1.9% from $259,900 in May.
Credit: Alex Soderstrom – Orlando Business Journal