Deanna Armel knows who she’s looking for.
The broker and owner of Kissimmee-based Armel Real Estate Inc. on May 19 listed a $7 million Lake Nona home — the most expensive one on the market in the southeast Orlando master-planned community — and she told Orlando Business Journal she has her sights set on landing a professional athlete as the buyer.
That’s because the property boasts a tennis court, basketball court and gym on its private 2-acre lot, Armel said. The listing has the potential to yield a historic home deal, as the most expensive single-family home sale in Lake Nona in the past decade was a $5.55 million deal, according to Orange County Property Appraiser data.
Of course, the athletic amenities are just a handful of the features that make the home at 10205 Tavistock Road stand out. Situated along hole 13 at the Lake Nona Golf & Country Club, the 7,700-square-foot main house includes a gourmet kitchen, flex space, an upstairs family room with a balcony and a master bedroom suite with its own balcony and sitting area.
In addition, the property includes a 1,300-square-foot, two-story guest house with a kitchenette, master bedroom suite and an additional bedroom.
Outside, residents and guests can relax in the covered, screened lanai outfitted with a summer kitchen. Along with the sports offerings, the home includes a swimming pool, spa and covered gazebo out back.
This property’s price is an outlier for Lake Nona, but the popular 17-square-mile community does command high home prices. The average home price in Lake Nona’s 32827 ZIP code is $788,767, according to the Orlando Regional Realtor Association. That makes it the fourth-most-expensive ZIP code for homes in Orange County.
A professional athlete shopping for a home in Lake Nona isn’t out of the question. In fact, there’s a recent example. Minnesota Vikings wide receiver Adam Thielen on May 6 paid $2.19 million for a home on the fifth hole of Lake Nona Golf & Country Club.
Despite inventory shortages extending to the local luxury market, high-end home sales got a bump last month. The Orlando Regional Realtor Association recorded 153 metro Orlando homes sold for $1 million or more. That was up 30% from 118 in March.
Expectations earlier this year for more measured demand in the luxury home market did not pan out, according to the Dallas-based Institute for Luxury Home Marketing’s May report. Instead, demand remains so high that supply can’t keep up, contributing to rising prices.
That report deemed Orlando’s luxury home sector a seller’s market, with demand exceeding the number of available properties.
Local housing market trends are important, as every home sale in the state has an estimated local economic impact of $112,500, according to the National Association of Realtors. In addition, the housing market often is considered a reflection of the local economy’s overall health.
