The current luxury home market in Lake Mary is ripe with potential. Luxury home subdivisions such as Heathrow, Heathrow Woods, Steeple Chase, Magnolia Plantations, Acura and Carisbrook feature homes priced $1 million and up. The highest current luxury home on the market is located in Heathrow/Chestnut Hill development (luxury home area of Heathrow).
The home is marketed by Stockworth Realty and was built in 1988. It offers 14,032 heated square feet, 6 bedrooms, 6.5 baths and a 4 car garage. It is situated on 2.08 acre lot with all luxury amenities. This home is currently offered at $3,699,000 ($263.62 sq. ft.).
The next highest luxury home for sale in Lake Mary is a unique compound located on 3400 MICHIGAN ST, LAKE MARY, FL 32746. It is not in a subdivision and is situated on 20.8 acres. The home built in 2001 along with the guest house boast 15,821 heated square feet, offers 10 bedrooms, 9 full and 5 partial bathrooms, room for 10 cars in the attached garages along with seven carports. The pool area located on the rear of the home is overlooking picturesque Lake Marietta. The property is zoned for horses and offers a 10 stall barn, riding area and many other luxury offerings. The property is currently listed by Coldwell Banker for $3,450,000 or $218.45 per square foot. The market time for this property is well over 1,400 days.
And finally, the third highest luxury home on the market is located at 1827 BRIDGEWATER DR, LAKE MARY, FL 32746 in Heathrow Woods, a separate community from Heathrow – considered the premiere luxury home development in Lake Mary. This home, as with most homes in this development are on a one-plus acre lot. This gorgeous 9,429 square feet Mediterranean Villa was built in 2006, offers five bedrooms, 5 full and 2 partial bathrooms, a five car garage and is offered at $2,800,000 or $296.00 per square foot. This home has been on the market, as of this writing for 471 days.
There are currently a total of 20 Lake Mary luxury homes for sale, and only one is pending. From January 2017 until June 30th, 2017, seven luxury homes sold, compared to only three luxury homes over the same period in 2016. Also, the median luxury home price increased by 20% over 2016, and sales increased by over 100%. While the numbers look fantastic – there are currently 20 months of unsold luxury home inventory on the market. Lake Mary continues to attract excellent businesses to this area. With great business come entrepreneurs and high-level positions seeking to purchase the inventory of Lake Mary luxury homes.