Tampa Bay Luxury Market Surges to Near Normal Even During Pandemic

Buyer demand seems unwavering in the high-end residential real estate market, especially in the trophy neighborhood of Davis Island. Today, Anne Mullis and Cindy Richards, Realtor duo for Smith & Associates Real Estate, sold a $9.1 million home on Davis Island, without even listing it on the market. That is only one week after “The One Team” at Smith represented a home on the island that was under contract within two days of listing it for sale. Both homes had multiple offers.

"We continue to see an increase in buyer demand for luxury homes," said Mullis. "This beautiful Davis Island home was sold by connecting with our agent network who represent discerning buyers.” The team understood the desire of buyers to have homes that provide a sanctuary during times of quarantine. Added Richards, “In these difficult times, this waterfront home offers the luxury of space and the advantages of the relaxed, island lifestyle."

This stunning waterfront home sold in 2017 for $6.275 million and has benefited from a total renovation prior to the sale today. The 9,151 square foot home sits on a 108x200 lot with spectacular open water views, a newly renovated dock with two boat lifts, a negative edge pool featuring both a pool chiller, heater, and spa. The outdoor kitchen and cabana area are all designed for enjoying the outdoors and entertaining in style. Inside the home are six bedrooms, six full baths, three half baths, a state-of-the-art kitchen with double islands, and the "Fort Knox" wine room that offers climate-controlled storage up to 600 wine bottles.

From the second floor, there is a spiral "stairway to heaven" that opens up to a rooftop terrace with breathtaking 360-degree views of South Tampa and downtown. Last week, Zillow reported, "buyer demand has continued to be strong, with home values holding steady and homes being snatched off the market even more quickly than last year." For this Davis Island home, that was certainly the case with the Tampa Bay region emerging as an area with the perfect mix of luxurious amenities and residential living captivating buyers from around the globe.