Mr Williamsburg, Revolutionary ideas on real estate!Hampton Roads Virginia

2011  MOST EXPENSIVE HOME SALES

This time of year it’s always interesting to look back and review the most expensive homes sold in the Hampton Roads VA area. According to data reported by the Real Estate Information Network ( REIN) a Multiple Listing Service that covers the area.

In 2011  there were 75 single family homes which sold for $1,000,000 or more in the Hampton Roads VA area in 2011 . Surprisingly that’s  2 more than were sold in 2010 although the average price for those was approximately $107k less than the same group in 2010.

While multi-million dollar price tags create oohs and aahs, it’s nothing more than a price tag until it’s sold. Three out of the top ten most expensive home sales in 2011 were in the Riverfront neighborhood in Suffolk, The remaining winners were all in VA Beach, two on the oceanfront and the others in Broad Bay Point, Linlier, Linkhorn,  Bay Island and other top end neighborhoods. The average discount from list price on the 10 homes was 10% from list price, ( although that doesn’t count data from homes that are relisted so the real number is substantially below that. The average sale price per square foot for the top ten list was $353 per square foot.

What follows is information on  the most expensive home sales in Hampton Roads, VA  in 2011  This includes  Va Beach, Norfolk, Chesapeake, Isle of Wight, Portsmouth, Franklin, Sussex, Southampton, Emporia, Greenville, Mathews, Suffolk, Surry, Smithfield, Newport News, Hampton , Poquoson, Gloucester and York County .  All information was obtained through REIN ( the Real Estate Information Network)

( Stats for date geeks)

The most expensive home on the list belongs to the owners of Tidewater Yacht Marina ,  Gordon and Kay Shelton.  It is a stately 7654 square foot home in the Riverfront community of Suffolk. The home is on the Nansemond River  It  sold for $2,483,000 and featured 4 bedrooms and 5 full baths. It seems that the price was for the home alone as they purchased the lot for $750k in 2008.  Sasser Construction of Portsmouth Va built this home along with # 4 and #9 on this list. Three out of the top ten most expensive home sales in 2011 were in the Riverfront neighborhood in Suffolk

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#2 on the list was 1500 Southwick, Rd, Va Beach –in the Linlier subdivision. A 5976 square foot Tudor style home on a four acre lot  overlooking Linkhorn Bay. It was built in 1938 and still contained most of its original light fixtures, leaded windows, and more. At its $2,347,000 sales price it ranked as the highest priced fixer upper in the area. It was only on the market for 69 days ! Listed for $2,550,000 in June , 2011 it closed in November.

#3 on the list was  originally listed for $ 3.5 million back in 2008, #3 on the list sold for $2.3 million in June of 2011.Total market time was a whopping 932 days !

This fabulous home had 7428 square feet, and overlooked The Princess Anne golf course in Linkhorn Park . Located less than one mile from the Virginia Beach oceanfront. The Linkhorn Park, neighborhood is a quiet and dignified neighborhood recessed slightly from the nearby north-end.The seller was Scott Gandy , principal at Kempsville Building Materials.

# 4 on the list is the second home in the Riverfront neighborhood in Suffolk.4001 River Park Dr, a 7825 square foot waterfront home built by Sasser Construction in 2007, This home was originally listed at $2,995,000 in 2009. After numerous price reductions it finally sold in 2011 for $2.2 million to  Kurt W. Taves, a Managing Partner with Cherry, Bekaert & Holland in Va Beach. #5 on the list is an oceanfront home in VA Beach, located in the north end near 54th street this, 3891 square foot home was built in 1979. It holds the record for shortest market time , selling in an amazingly quick 18 days in April of 2011. This home offered panoramic views of the ocean, four bedrooms and four full baths. List price was $2,395,000 it sold for $2.1 million.

#6 on the list was at 2301 Windward Shore Dr in Bay Island, VA Beach This stunning home over looks Broad Bay .Although built in 1965 it was totally renovated prior to being sold. The six bedroom,. five bath home has 7094 square feet, a pool. pier with and jet ski lifts . Originally listed for $2.5 million it sold in only 19 days for 2,050,000. WHERE ARE THE TOP TEN HOME SALES IN HAMPTON ROADS click for larger map

#7 on the list is a stunning Mediterranean villa located in the premier Va Bch neighborhood, Estates on the Lynnhaven. This has to be one of the largest price reductions on record in the Hampton Roads real estate  market. Originally listed for $4.5 million in 2007 it sold for $1,975,000 in March of 2011. This magnificent, one of a kind, custom transitional residence is nestled on a  2.9 acre deep waterfront lot, Contains  Six Bedrooms,  Five Full and One Half Baths and  Approximately 6860 Square Feet of Living Area

#8 on the list was the only “Flip “ on this list, 2389 Haversham Close  in Broad Bay Point Greens in VA Beach sold for $1,250,000 in February of 2010, after a total renovation it then sold for $1,900,000 after only 33 days on the market. This waterfront home on a 1.3 acre lot overlooked Broad Bay. It has five bedrooms, five baths and 5428 square feet of living space.

#9 on the list is the third entrant in the Riverfront neighborhood of Suffolk VA. 5236 Rockport Landing. An amazing one of kind waterfront home on 3.8 acres built by Sasser Construction. After an initial list price of $ 2,650,000, the sales price was $1.9 million after 292 days on the market. According to tax records the sellers paid $2,178,000 for the home in 2007.

Rounding out the top 10 list in Hampton Roads  is 8808 OCEAN FRONT AVENUE in VA Beach is the second home on the oceanfront in VA Beach on the list. I guess the fourth times a charm since that how many times it was listed since 2007 when it was priced at a staggering $ 3,925,000. The sellers ( Ann & Harvey Davis) finally settled at $ 1,875,000 in November of 2011. This is about a far as you can go in the north end of VA Beach only one home away from Fort Story. The home offered six bedrooms, five baths and 4800 square feet. It was .built in 1962 but extensively renovated in 1988..

Want to find your million dollar + home in Hampton Roads ? Search for them here

Like what you are reading ? Want to receive updates by email in the future ? Sign up here  psst … I’m a Realtor! Thanks for stopping by my website. I  would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com  and Mr Williamsburg.com were created as a resource for folks who are exploring a move to  Williamsburg, VA , Hampton Roads VA and the  surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities,   condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent,  Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton,  Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth  Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry,  Va Beach, Yorktown  and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @  757-254-8136

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