Can This Vero Beach Home Fetch $15M More Than Two Years Ago?
Agents say home sale prices in the area are about 4% higher year over year.
VERO BEACH, Fla. – An oceanfront home in Vero Beach is listing for $42 million – about $15 million more than it sold for two years ago, Cindy O’Dare, of ONE Sotheby’s International Realty, told the Wall Street Journal.
The current owners spent roughly $27 million in 2021 to buy the furnished house, then put approximately $2 million into renovations and landscaping. If the owners get the asking price, the 18,000-square-foot estate could set a record for Vero Beach, where no home sale has topped $30 million, O’Dare said.
The 8-bedroom estate on about 1.41 acres has about 200 feet of oceanfront, O’Dare said. The asking price includes several art installations, including a 60-light Swarovski Flying Candles piece. The property also has two swimming pools and a water feature. There is also a guesthouse and several garages, one with a turntable for cars.
O’Dare said the asking price is warranted by the increased demand for waterfront properties in the area, as well as the home’s location and the quality of construction. Vero Beach luxury home sale prices are about 4% higher than at this time last year, and the pace of sales is also slightly up, O’Dare said. Another home in Vero Beach is listed for $60 million.
Source: Wall Street Journal (12/11/23) Paynter, Sarah
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