The five-bedroom, 6.5-bath oceanfront home sold for $22 million on Jan. 31, beating the previous record — a villa that sold for $19 million in September.
PONTE VEDRA BEACH, Fla. — The first month of 2024 wasn’t even finished when another Ponte Vedra Beach home smashed the record books for local sales prices — and not by a little bit either.
Located at 349 Ponte Vedra Blvd., the five-bedroom, 6.5-bath oceanfront home sold for $22 million on Jan. 31, beating the previous record — a villa that sold for $19 million in September — by $3 million. That sale broke the record set in May by an unfinished home by $5.75 million.
The January transaction was first reported by the Jacksonville Daily Record in early February as an all-cash sale. Both the high price and the method of purchase are surging these days and have been since the third quarter of 2023. That’s according to a January report from Redfin, headlined, “Luxury home prices hit all-time high as record share of high-end buyers pay cash.”
The Redfin article reported that luxury home prices rose at twice the pace of non-luxury homes, with an average selling price of $1.17 million in the fourth quarter, up nearly 9% from a year ago. What’s more, nearly half of those purchases were made in cash, which makes things tougher for traditional buyers forced to deal with high mortgage rates.
As for the buyer of 349 Ponte Vedra Blvd., the Daily Record speculated that the new owner is likely former T-Mobile CEO John Joseph Legere, based on utility records.
The home is a unique West Indies-style abode that included all furnishings in the purchase price. The two-story home, designed by Cronk Duch Architecture, was built by Coastal Construction in 2017 and occupies a .37-acre lot.
Exterior highlights include a courtyard flanked on each side by a pair of two-car garages, an outdoor shower, heated pool and upper level balconies stretching across both the front and back of the home, as well as private beach access. Among the interior features are two fireplaces, wet bar with wine cooler and a security system complete with closed-circuit cameras.
It remains to be seen if records for home prices will continue to be broken this year. If so, Ponte Vedra Beach will truly give Miami a run for its money as the hottest luxury market in Florida.
This story was first published by the Florida Times-Union.
