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Engel & Völkers Sets New Record for Most Expensive Residential Sale with North Fort Myers Home

By: Engel & Völkers Florida |  13 Shares     271 Reads

The sale of a North Fort Myers home has broken the record as the most expensive residential sale, previously held since 2007.

FORT MEYERS, FLA. (PRWEB) April 24, 2019 - Engel & Völkers today announced that their residential real estate brokerage, Engel & Völkers Cape Coral has broken the record for the most expensive residential sale in North Fort Myers. Real Estate Advisor, Zaynab Bakir represented the seller in the $2,620,000 deal of 12604 Panasoffkee Dr. The record, previously held by 12590 Treeline Ct, has been unmatched since March 2007.

“I have never seen a property like 112604 Panasoffkee Dr,” said Bakir. “It is truly one-of-a-kind, and like any rare jewel, the price reflects the value.”

This is a significant development for the market as the previous record sale took place just shortly before the bursting of the U.S. housing bubble that triggered the Great Recession. Over the last ten years, home appreciation rates have been 4.67-percent.

“This record-breaking sale clearly indicates that discerning buyers are taking our market seriously and finding value in their investments,” said Bakir.

There are distinguishable differences between the two properties including: 3,194 additional square feet, 17 years newer, two more bathrooms and 0.98 less acreage at 12604 Panasoffkee Dr. Nestled in the gated community of Buttonwood Harbor, the home features impressive attributes like a private beach, expansive terraces that offer city and river views, home theatre, lavish elevator with customized wood inlay and Bellagio-style water fountains.

According to Zillow, the median price of homes currently listed in North Fort Myers is $203,750, while the median price of homes that sold is $187,700. North Fort Myers home values have gone up 2.2-percent over the past year and Zillow predicts they will rise another 1.7 percent within the next year. While the median list price per square foot in North Fort Myers is $134, 12604 Panasoffkee Dr was listed at about $345 per square foot.

Engel & Völkers Cape Coral was established in February 2007 by License Partner Thomas Hopf and in October 2014, Broker Nadja Eisenkeck joined as co-owner.

“We are extremely proud to broker this record-breaking transaction and to have Zaynab on our team,” said Eisenkeck. “In terms of commitment, energy and skill, Zaynab sets the bar high for her peers and goes above and beyond for her clients.”

About Engel & Völkers

Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a bespoke, white-glove concierge client experience at every stage of the home buying or selling process for today’s savvy homeowner. Engel & Völkers currently operates approximately 150 shop locations with over 3,000 real estate advisors in the Americas, contributing to the brand’s global network of over 11,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate, yachting and aviation. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evusa.com.

About Engel & Völkers Florida

Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida’s exclusive franchise model positions its license partners at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in: 30A Beaches, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Jacksonville Beach, Jupiter, Madeira Beach, Marco Island, Melbourne, Melbourne Central, Miami-Coral Gables, Olde Naples, Orlando-Winter Park, Palm Beach, South Tampa, St. Pete, Stuart, Wellington, and Windermere.

Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network, which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000. For more information about Engel & Völkers Florida, please visit florida.evusa.com

Media Contact:

Linzee Werkmeister
Engel & Völkers Florida
(239) 348-9000
Linzee.Werkmeister@evusa.com

SOURCE Engel & Völkers

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