Engel & Völkers St. Augustine Breaks Local Record with $1.6M Sale

By: Engel & Völkers Florida | 2 Shares 170 Reads

ST. AUGUSTINE, FLA. (PRWEB) January 25, 2021 - Engel & Völkers Florida today announced the record breaking sale of 176 Spartina Ave. Jennifer Bryndal, License Partner of Engel & Völkers St. Augustine, held the listing, which was contracted for sale after a mere 14 days on the market. At $1,600,000, the sale marks the highest price per square foot transaction for a non-waterfront home in Pelican Reef.

“St. Augustine's real estate market is the strongest it's been in years,” said Bryndal. “Our inventory has reached an all time low. Many of the buyers are from out-of-state, and are willing to pay a premium for move-in ready homes, rather than a home that requires updates or repairs.”

The notable transaction represents the highest price per square-foot transaction for a non-waterfront home, as well as the highest price per square-foot in Pelican Reef in the last two years. The sale was also the highest price per square-foot single-family home on a single lot that was not waterfront property sold in St. John’s County in 2020. According to Zillow, this home is valued 326-percent higher than the typical home in the same zip code. Home values in Pelican Reef have gone up nearly 5-percent over the past twelve months and Zillow predicts that home values will continue to increase an additional 10-percent within the next year. The 14-day active market period is a testament to the standard of excellence displayed by the Engel & Völkers professional global network, especially when compared to the market average day on market of 92 days.

“The buyers of 176 Spartina Ave searched the Florida coastline from Jacksonville to Daytona before making their purchase,” said Bryndal. "Most nonresident buyers have the luxury of searching much larger areas before making a decision. As we continue to see this trend, sellers should expect that their homes are not just in competition with other listings in St. Augustine, but potentially the entire state.”

The 3,984 square-foot home features four bedrooms, five bathrooms, and immediate access to the Atlantic Intracoastal Waterway, an oasis for both nature lovers and boaters alike. This stunning home is designed to let the outdoors in with floor-to-ceiling glass windows and doors that overlook the famous Bridge of Lions and an expansive outdoor living area for easy entertaining. The owners suite offers serenity and escape in the form of a private deck with views of Florida’s lush marshes.

“It’s wise to meet with a few qualified agents to better understand the market and how to properly position your home to net the highest return,” said Bryndal. “Before marketing a home, I usually advise my clients on paint colors, repairs and staging in order to appeal to the largest buyer pool. Now, more than ever, it is important to list smart and make sure your home is marketed correctly. Engel & Völkers global reach and superior marketing capabilities kept 176 Spartina Ave top of mind for these buyers as they continued to look at homes in other areas.”

Pelican Reef is a prestigious community located on Anastasia Island between historic downtown St Augustine and St. Augustine Beach on the Intracoastal Waterway. Several of the homes in Pelican Reef are along the waterfront and have stunning views of downtown, while others have wonderful views of the marsh. The gated community offers residents a community pier and marina.

Bryndal came to Engel & Völkers in 2019 when she secured the franchise rights to the St. Augustine territory. With over 15-years of industry experience at the time, she was the top-producing agent at Berkshire Hathaway Homeservices Florida Network Realty-St. Augustine, transacting over 20-million-dollars annually. She also enjoyed success as a top producer at Coldwell Banker Premier Properties. Prior, Bryndal got her start at Prudential American Group in Las Vegas where she trained directly with CEO, Mark Stark.

SOURCE Engel & Völkers

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