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Everything You Need to Know About Bimini Court
Posted by roybhandari in Prestigious Homes, Street Profiles
Bimini Court is an exclusive Court located in Prestigious Credit Mills. First occupied in 2000-2001, Bimini Court is one of the newer streets in the neighbourhood, and (as of March 2010) only 22 listings have ever gone on the market on this exclusive street, and only 7 homes have sold making it one of the lowest turnarounds in Credit Mills.
LOCATION
Bimini Court is located off Manor Hill Drive. One of the key features that makes Bimini Court so desirable is its location with respect to Manor Hill Park. Bimini Court is directly east of the park, and a handful of homes back directly onto it.
UNIQUE FEATURES
Bimini Court was built by Great Gulf Homes, and many of the homes feature luxury upgrades such as triple-car garages and large lot frontages ranging from 55ft – 85ft. Homes don’t come up for sale very often on Bimini Court, but if you have a chance to speak to some of the lucky homeowners who have lived there you’ll quickly find out why.
| Builder | Great Gulf Homes |
| Age | 2000-2001 |
| Approx. Sq. Ft. | 3500-5000 |
| # Bedrooms | 4-5 |
| Approx Lot Sizes | 55-85ft Frontage |
REAL ESTATE TRENDS
With such few homes being sold on Bimini Court, it is difficult to put any patterns on the sales on the street. Since construction in 2000, only 7 homes have been resold with the last sale in August of 2009. In the last two years, only three homes have been put up for sale, with two of them selling. In terms of value, Bimini Court offers similar specifications as other streets by Great Gulf Homes, such as Elmridge Drive but the prices remain less, with the average sales on Bimini for the last two years being $850,000, whereas on Elmridge Drive the average sales are over the Million Dollar mark for the last two years.
The graph above shows the average sales on Bimini Court since 2001, and a definite upward trend exists. The average price has increased from approx. $650,000 in 2001 to approximately $850,000 – a $200,000 increase on initial investment in 9 years – this is only a 3.5% annual growth, which is less than the average for Credit Mills. It is important to note, however, that there have been no sales in the last year, which is when a lot of streets have seen significant growth in property value. It will be very interesting to see how much the NEXT home on Bimini Court sells for…
| Highest Sale | $875,000 |
| Average Sale (Last 2 Years) | $851,750 |
| Last Sale | August 2009 |
| Average Days on Market (Last 2 Years) | 31 |
| # Homes Sold (Last 2 Years) | 2 |
| # Homes Listed (Last 2 Years) | 3 |
| % Homes-to-List Ratio (Last 2 Years) | 66.67% |
| Growth Rate (Based on Random Sample) | 4-5% |
| Time for Value to Double | 14-18 years |
AMENITIES
Coming Soon
SCHOOLS
Coming Soon
CURRENT LISTINGS
There are currently no listings on Bimini Court. If you are considering buying or selling on this street and would like further information, please contact us at info@icreditmills.com.
