Lee Real Estate announced the sale of 199 Eel Point Road today marking the first sale of a single-family residence above $10,000,000 in 2011.  The sale price was $11,800,000, or 83.1% of original asking price and 195% of current assessed valuation.  The property is only one of two properties sold in 2011 for more than $10,000,000 and the only personal residence to sell above that point.

While there have been 11 other properties sold for more than $5 million dollars this year, only seven were single-family dwellings and four were land sales.  The closing price of 199 Eel Point Road was 71.9% higher than the next highest priced single-family home, 7 Huckleberry Lane at  $6,865,000.