Bargain’s at Enclave Condo Auction
Published May 24th, 2008
Nearly 200 people watched 49 condos at the Enclave at Eagle Harbor go on the auction block, on May 17.
Construction on the 84-unit, 12.5-acre development, which straddles Lakeshore Drive East where it meets County Road 220, began in early 2006. Sales for the 2- and 3-bedroom units, which all feature garages, were especially brisk during pre-construction, said Realtor Kelly Touhey of Eagle Harbor Realty.
“But then the market turned, and here we are,” she said, adding that she was pleased the auction sales would help create more of a neighborhood feel in the development, a goal also mentioned by officials for the developer.
Vincent Jarbo, chief operating officer for J.P. King, described the auction as an “inventory reduction” event for the seller. Fifteen of the condominium units were offered to the highest bidder (meaning there was no minimum bid required), and while the rest of the units were also available, those bids had to be approved by the seller. All in all, 28 units sold in prices ranging from a low of $165,000 to a high of $220,000.
Auction results showed 28 units sold for a total of more than $5 million.
