Unique Homes Blog

Homeowners on Florida’s Treasure Coast find themselves in one of the world’s finest luxury locales.

Casa Mia is on the Intracoastal Waterway in Jupiter, Fla., and it features a magnificent view of Jupiter Island. Despite a shaky market, waterfront properties similar to this one have continued to hold their own in Florida’s Treasure Coast region, appealing to buyers who seek value in the home’s location.

By Jessica Decina

Odds are, you’ve heard the phrase “location, location, location” before. Clichéd as it sounds, it’s still the biggest selling point along the Treasure Coast, which spans approximately 75 miles along Florida’s east coast.

Spanning from just south of Hobe Sound and stretching north to Vero Beach, the three-county area boasts properties with incredible amenities, is home to some of the best golf resorts in the region and lends magnificent water views, whether you’re on the Atlantic Ocean or looking out at Lake Okeechobee. It’s these factors that kept the market relatively steady in recent years, says Peter Erdmann of Lost Tree Realty in Jupiter, Fla.

“People are increasingly searching for true value when they purchase a home,” he says. “It may sound old world, but we are seeing that the most important aspect of a quality purchase is location, location, location.”

One of Erdmann’s recent sales was a client who sold his Jupiter, Fla., home for $6.5 million, a much higher price than he had expected.

“It was a combination of the short time on the market and the strong price point. Several similar properties in the same community have reduced their asking prices by 20 to 30 percent and still have not sold. This sale was a perfect example of ‘right place, right time,’” he says.

Martin County Realtor Debra Duvall believes the market will continue to gain strength “well into 2010.” She notes that while condominiums took the biggest hit in the last few years, waterfront properties continue to hold their own.

“Martin County [has] more navigable waterways than most counties. Our waterfront residences out-pay other luxury properties. [It’s that] long-term stability that’s attracting savvy buyers into making purchasing decisions,” she says. “There’s still plenty of good buys.”

But because there are more homes to choose from, buyers don’t have to make a lot of compromises. Lynn Byrd of Illustrated Properties recalls one client who wanted a four-bedroom home with a den and access to a golf community.

“I had 85 properties that met those qualifications. In years prior to this, we had 10, maybe 12. I feel as though everyone’s convinced the bottom has been reached and they’re able to take advantage of that,” she says.

Erdmann agrees, noting that buyers are stepping back into the luxury market in the $1.5 million to $2.5 million range. As long as buyers and sellers continue to have realistic expectations, Erdmann believes the market slowly will stabilize.

“Unfortunately, even sophisticated buyers get caught in the trap of thinking that their desire to buy should command that the sellers take whatever they are offered,” he says. “[But] we see buyers recognizing that there are true value purchases to be had, and sellers’ price expectations are more in line with this search for value.”

Searching hard enough certainly will reveal gems along the Treasure Coast. The area boasts incredible boating properties, given its access to the Atlantic Ocean, Lake Okeechobee and the various intracoastal waterways, says Duvall. Buyers can easily find properties starting at $500,000 and reaching $15 million. She recommends Sailfish Point and Sewalls Point, areas with access to the St. Lucie Inlet and various coves, as the up-and-coming hot spots.

“Deep water, great views, good elevation. It’s all about location,” she says.

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