Biltmore Past Sales
Biltmore at Bay Colony Past Sales
Biltmore Information
Condos For Sale Biltmore Floor PlansHistorical Sales In Biltmore at Bay Colony
The Most Notable Sales
As of April 2, 2024, the most notable sale in Biltmore occurred when 8473 Bay Colony Drive #2202 sold turnkey furnished for $8,250,000 or $650,000 less than the full list price. Most prospective buyers would have considered this condo to be in original condition. Some aesthetic features like ample faux finishing are detrimental to the aesthetic value. Special features included a one-bedroom, one-bath guest house apartment, grill, and spa on the rooftop terrace. This condo also included a poolside cabana. A conventional loan was obtained to purchase this property.
Biltmore's most notable normal-sized unit sale occurred in February 2023, when #903 closed for $6,750,000. This unit would have been considered updated and was offered furnished. It sold for $750,000 less than the full list price after 25 days on the market. The buyer did not require a loan contingency and could have paid cash for this property.
Breaking The Record
To break the all-time Biltmore at Bay Colony sales record would likely take a remodeled unit on a high floor with similar square footage as #2202. The unit would likely require some upgrades, a recent remodel, or at least appeal to a larger percentage of Biltmore at Bay Colony buyer prospects.
Breaking the record with a normal-sized condo would likely take a higher floor but would not be required. Recent updates with high-end finishes and maybe an attractive furniture package should be enough to accomplish this goal, provided the sale occurs during favorable market conditions.
The Best Deal In Biltmore at Bay Colony
The lowest-priced unit in Biltmore closed in 1997. #502 sold in decorator-ready condition while the building was nearing completion for $910,000 after 288 days on the market.
Biltmore at Bay Colony is a beachfront building where properties come on the market more often during peak market conditions than down economies. Most owners maintain their ability to hold instead of selling during poor market conditions. For example, no sales took place in 2008, and only one sale took place in 2009, a time when the Naples market overall was depreciating. There have been no distressed sales in terms of a short sale or foreclosure activity in the history of the Biltmore at Bay Colony.
Wise buyers who intend to purchase Biltmore at Bay Colony know to purchase during better market conditions than wait for the market to drop when there is little or no available inventory.
To determine the value of your Biltmore condominium or for more information, contact Shannon today!
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