A massive vacation home with 15 bedrooms has sold for $11.7 million, setting a record for an Osceola County home sale.
The sale of Villa Isole at 1297 Grand Traverse Parkway in Reunion Resort was announced March 3 by Reunion Realty LLC, which handled both sides of the transaction. The sprawling 23,000-square-foot estate fetched one of the highest sales prices seen among Central Florida homes this year.
Movie theater, spa and more
Built in 2017, Villa Isole boasts an extravagant collection of amenities. They include a multilevel saltwater pool, hot tub, indoor basketball court, piano bar, lounge, commercial kitchen, a 19-seat movie theater and an on-site private spa.
In addition to the features inside the home, the property’s location in Reunion Resort means it has access to a series of high-end amenities. They include three golf courses designed by Arnold Palmer, Tom Watson and Jack Nicklaus. In addition, the community features 12 swimming pools, a multimillion-dollar water park and a lazy river.
Celebration-based Reunion Realty listed the home on behalf of the previous owner, 1297 Grand Traverse Associates LLC, according to Osceola County Property Appraiser records. That firm is related to Detroit-based real estate investment company Sterling Group.
Pricey home deals keep flowing
In early 2022, luxury deals are flowing at a greater rate than the start of 2021. There were 79 metro Orlando homes sold for $1 million or more in January, according to the Orlando Regional Realtor Association. That’s 64% more than 48 such sales in January 2021.
Like most of the region, home sales and prices are up in Osceola County. The Osceola County Association of Realtors recorded 452 single-family homes sales in January, up 4.9% from 431 sales in January 2021. Meanwhile, the median sales price of $350,000 was up 30% from $268,750 a year prior.
Home demand in Osceola County is so fierce, many buyers are willing to pay $50,000 or more above list price and cover appraisal gaps with cash, Deanna Armel, broker and owner of Kissimmee-based Armel Real Estate Inc., told Orlando Business Journal.
Osceola County draws homebuyers because it typically offers bigger home lots and lower property taxes than other nearby counties, said Armel, who was not involved with the Villa Isole property.
Plus, homebuyers flock to the Narcoossee Corridor because of its proximity to Lake Nona, she added. “Those homes are getting Lake Nona buyers who are trickling over because there’s nothing left over from Lake Nona.”