There will soon be many new neighbors getting to know each other on Enchanted Oak Drive.
Several of the high-end homes on the street in Disney’s Golden Oak have recently sold at prices that were pipe dreams just a short time ago.
“A lot of these sellers bought their homes 10 years ago and had them built in that $4 to $6 million range and now they’re able to get between $8 million and one is on the market for $15 million,” said Matt McKee with COMPASS Florida. “That’s a substantial gain. A lot of those are secondary homes, not primary homes, so [the owners] might as well cash in.”
And they are doing just that.
McKee sold a house at 10114 Enchanted Oak Dr. in December for $8.5 million. The home at 10121 Enchanted Oak just sold in a quick off-market sale for $9.2 million.
Three more are on the market, including the one directly across the street from the home that just closed.
McKee is the listing agent for the home Jones Clayton Construction built at 10120 Enchanted Oak in 2016. The home is 9,713 square feet with five bedrooms, six full bathrooms, lots of living space, a lagoon-style pool, and a guest house.
There are also plenty of Disney touches, typical of the homes in Golden Oak, like a Mickey Mouse-shaped hot tub and a Lady and the Tramp accent in the kitchen.
“[This home is] tastefully elegant Disney. We’ve got hidden Mickeys throughout the home and then a haunted mansion theme with a Tower of Terror elevator,” he said, adding it is totally safe and unlike its theme park counterpart, doesn’t plunge people several stories down the shaft.
“Everyone that comes and looks at the house wants to take a ride, so I make sure to tell them it has the look of Tower of Terror but does not have the feel.”
Golden Oak homeowners have access to resort-style amenities in the neighborhood and special access to perks at Disney properties and at the theme parks.
The sellers of the home McKee has listed are from up north and are cashing out.
“It was a vacation home for my sellers and their plans changed and they are selling,” McKee told GrowthSpotter. “It helps when there’s the amount of equity in it there is. It makes your plans a little more flexible and fluid.”
After just about three weeks, three written offers are in and there is another interested party.
“It puts you in awe a little bit. Here we are in September 2022 with multiple offers on a $10 million property,” McKee said. “I feel based upon the condition of the home and the features and the finishes that it has, $10 million is a very realistic price,” he explained. “I think that speaks for itself in three weeks on the market.”
McKee says about 44% of the owners in Golden Oak are full-time residents, not just visitors, and two of the four parties interested in this listing are local. Three of the four plan to live there year-round.
He said the large price tags still surprise him.
“I’m second generation in residential real estate in the area and my son is third generation. We talk about it often. Our huge sale back in the day was when we sold Nick Anderson’s house for $2.2 million when he was traded from the Magic to Sacramento,” McKee said. That trade was in 1999.
He said he sees the upward trend continuing.
“There’s such a limited supply and I think more and more people are going to start to know Golden Oak. A decent amount of families of wealth in the United States are aware of it. but I think as they start to tell their friends, it’s only going to increase.”