Spotlight

In Florida, a $19 Million Home Sale is the Panhandle’s Priciest of the Year

Jonathan Spears | April 1, 2023

A beachfront spec home on Florida’s Emerald Coast has sold for $19 million, making it the Panhandle’s most expensive sale so far this year.

The newly completed home in Seagrove Beach was listed for $25 million in May 2022, while still under construction, according to listing agent Jonathan Spears of Compass.

The home, part of the Sanctuary at Seagrove development along Scenic Highway 30A, was sold by a group of investors including developers Ben and Christel Giles, who bought the roughly half-acre lot in 2018 for $3.2 million, Mr. Giles said. The purchaser was Dawn Smith, president of Cologix, a data center and interconnection company based in Colorado.

The seven-bedroom house spans about 7,400 square feet. In addition to the main house, the property has a pool, a one-bedroom guesthouse and about 50 feet of beach frontage on the Gulf of Mexico.

There are four homes in the Sanctuary at Seagrove, Mr. Spears said, and one is still available, asking $25 million.

Author: Libertina Brandt

Demand for high-end homes in northern Florida has seen an uptick in recent years, according to Mr. Spears. The median price of a single-family home along Highway 30A was $1.552 million in January 2023, up from $1.33 million in January 2022, he said, and the area’s most expensive home sale last year was $25 million.

Source: Wall Street Journal