12 Flagler Drive, 2 acres, has an executed contract. It was listed at $2.7 million and went in just 15 days, so it’s a safe assumption that it will be selling for close to that asking price, at least.
This compares to the 2012 sale of 21 Flagler for $2.425 which, although it had a perfectly nice house on it, was valued and sold as land. In fact, I believe the house has already disappeared. 25 took forever to sell, but that’s because it started out at $3.5 in 2010, which was just silly.
And speaking of 2010, that’s when 25 Flagler sold, for $2.3. Another 2-acre lot. I’d say all three parcels were just about equal, although my personal preference was #21 – a bit of wetlands at its western border, but a fine yard all the same, and that 1930s house, a colonial reproduction, could have served as a most excellent house for a buyer with more modest taste. All that said, I’d guess that over the past three years we’ve witnessed a $400,000 increase in the price of a good mid country building lot.
The five acres at 487 North a client of ours bought late last year for $4.750 backs up to Flagler, and looks like a good deal today.