PANAMA CITY — There is no doubt the local real estate market boomed during 2021, but what were the most luxurious homes sold in the area?
According to information provided by the Central Panhandle Association of Realtors, there are five homes located along the Gulf of Mexico in Bay County that stand out from the rest as the most expensive properties sold this year.
Ranging from $8.5 million to $3.9 million, the homes are located at 517 Beachside Gardens, 316 Beachside Drive, 22015 Front Beach Road, 20413 Front Beach Road and 20407 Front Beach Road.
"This has been an exceptional year for people selling their properties," said Amanda Cialoni, who was CPAR president until the New Year. "It's not been so good for buyers, of course, because the inventory has been so low (that) they're having to pay more than what they would have a couple of years ago, but for sellers, it's been excellent."
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517 Beachside Gardens
Coming in at the top of the list, this property is located within the Carillon Beach Community and sold for $8.5 million.
Built in 2019, the property includes about 6,096 square feet and boasts two homes — a main house with three floors, six bedrooms, eight full bathrooms and two half bathrooms; and a guest house with two floors, two bedrooms, two full bathrooms and one half bathroom.
The main house features an elevator, along with a kitchen equipped with a large sub-zero refrigerator, two dishwashers, warming drawer and a six-foot wide stove.
"It's a large home ... (and has) probably one of the largest Gulf-front lots in Bay County," said Fran Bright, manager of Carillon Realty and listing agent for the property. "It has all the latest products, (and) it's in perfect shape."
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316 Beachside Drive
Ranked No. 2, this home also is located within the Carillon Beach Community and sold for $5.75 million.
Built in 1998, it has an elevator, three floors, four bedrooms, four full bathrooms and one half bathroom. It covers about 3,118 square feet.
According to Bright, who also was the listing agent for this property, the home was renovated by a past owner to redesign a "terrible steep staircase" and add a foyer.
There were additional ongoing improvements when it was sold.
"I had a customer come in who was looking for a beach house, and there was nothing really available on the market, but I knew this owner and he said he was going to sell it after it was completed," Bright said. "I called him and (asked if he) would be interested in selling it pre-completion, and he (agreed)."
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22015 Front Beach Road
Claiming the third spot, this home cost $5.195 million and was the most expensive property sold this year outside of the Carillon Beach Community.
Located on about 7,275 square feet, it has four floors, nine bedrooms, nine full bathrooms and two half bathrooms. Its construction ended in June.
"It sleeps about 35 people ... and the average rental rate is about $35,000 to $40,000 a week," said Bill Thomas, broker and owner of Beach Time Realty and listing agent for the property. "The house is just over-the-top ... (with) top-of-the-line materials (and) trim work. If you go look at the interior of it, it's second to none. That's for sure."
20413 Front Beach Road
At No. 4 on the list, this home sold for $4.901 million and was built in 1945.
Unlike the others properties featured, this home was demolished after it was purchased, said Sam Warren, a real estate agent for Beachy Beach Real Estate and listing agent for the property.
The home covered about 3,730 square feet and had two floors, five bedrooms, four full bathrooms and one half bathroom.
"The people who purchased that property were ... (not) even interested in the house whatsoever," Warren said. "It was strictly the dirt, strictly the real estate. ... They subdivided (the lot and now) are building four, five-story homes on four (smaller) lots."
20407 Front Beach Road
Listed as the fifth most expensive home bought in Bay County during 2021, this property sold for $3.9 million and was built in 2019.
It covers 5,215 square feet and features four stories, two kitchens, nine bedrooms, nine full bathrooms and one half bathroom.
"The return on the investment is 10% or higher," said Andrea Farrell, lead adviser for Engel & Völkers Destin and listing agent for the property. "You would not be able to buy a home say on 30A or in Destin with that much waterfrontage for that (price)."
Source : https://www.palmbeachpost.com/story/business/real-estate/2022/01/04/top-5-luxury-home-sales-panama-city-beach-bay-county-florida-2021/9033439002/1625