North Palm Beach home trades for $5M

A waterfront home in North Palm Beach was just sold for $5 million, marking its third resale since it was first built in 1999.

The home is located at 11809 Lake House Court, according to Palm Beach County property records. It sits on a 0.41-acre lot that looks over a small lagoon in a golf course community named Lost Tree Village.

Its owners, Patricia and Henry Lentz, paid $3.675 million for the four-bedroom, four-bathroom home in 2011. That sale broke down to roughly $711 per square foot of interior and exterior space.

Now, a revocable trust in the name of Judith Lund Biggs has paid $5 million for the home, according to county records. The property has seen a steady appreciation in value since its first resale in 1999, where it fetched a price tag of $1.775 million.

Compared to other homes in the area, which have averaged resales in the mid $1 million to $2 million range, this property is also one of the most expensive in that section of the Lost Tree Village. The village also has a portion of land that faces the ocean, where home prices peek into the upper tens of millions.