While Brevard’s inventory of homes seems to be stacking up, luxury homes on the Space Coast are still zipping off the market.
Stephanie Moss Dandridge, a global real estate adviser with ONE Sotheby’s International Realty, said the luxury real estate market hasn’t been as affected by the Federal Reserve’s interest rate hikes or the real estate slowdown.
“Buyers are still looking for high-value properties,” said Moss Dandridge, who has offices in Indialantic and Melbourne Beach.
Moss Dandridge just represented both sides of the transaction on the sale of an iconic property at 3380 N. Riverside Drive, north of Indialantic, for $5.5 million. The property previously had been owned by the late Phillip and Jeanne Farmer, and was sold by Farmer’s trust. Phillip Famer had been the chief executive officer of what was then Harris Corp., and both also were know for their extensive philanthropic work.
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Moss Dandridge said the deal was made one day after the house was put on the market for $5.6 million.
The slowdown happening in more moderately priced homes hasn’t been replicated in the high-end market, she said. Of the 10 properties she put on the market in the last 30 days, six were under contract within the first week of their listing.
With the sale of the property that the Farmers had built in 1999, Moss Dandridge now has been involved in the four largest single-family-home transactions on record in Brevard County.
These are the others:
6585 S. Tropical Trail, Merritt Island, $9 million.
205 Hacienda Drive, Merritt Island, $6 million.
6855 S. Tropical Trail, Merritt Island, $5.505 million.