October 2011: Highland Beach – Oceanfront Real Estate Market Update

Current Oceanfront Homes for Sale in Highland Beach

As of October 16, 2011, there are 11 oceanfront homes for sale in Highland Beach, Florida ranging in price from $4.5 million to $15,650,000.  The newest home on the market is 4215 S Ocean Blvd listed for $9.995 million.  It’s part of a development called Ocean Places Villas right on the ocean.  The home sold back in 2007 for $9.5 million, so there is definitely room to play with on it’s current list price.  Let the home sit on the market a little bit (few months) before we see the owner’s real motivation for selling.
Currently there are no homes under contract for sale.  During the last six months, there were two homes sales:

4121 S Ocean Blvd was on the market for almost one year.  But if one does a little bit more research, the home actually came on the market back in 2009 listed for$5.25 million and was sold a few months later for $4 million.  Then the home was relisted for sale one year later (June 2010) for $4.995 million.  We can all guess at the motivation of relisting the home for sale one year later (almost one million dollars higher than was paid for), but eventually the list price had been lowered to $4.249 million within a few months.  So there must have been something more to this sale.  The home eventually sold for $3.4 million in May 2011.

4201 S Ocean Blvd was on the market for 532 days before selling.  The home had actually been listed on and off since 2006.  That would actually be closer to 1500 days on the market (DOM).  The home had a roller coaster ride with it’s list price since 2006.  It started at $9.95 million in 2006 and made it’s way upward towards $13 million in October 2007m but eventually was relsited for sale in 2009 at $9.45 million and sold 532 days later for $7.7 million.