HGTV 2008 Dream Home Now $15M Islamorada Resort

The 2008 HGTV Dream Home, originally valued at approximately $2.2 million, has reappeared on the market in Islamorada, Florida, as part of a $14.9 million private resort compound. This waterfront property, situated on 3.2 acres, has undergone a significant transformation since its initial unveiling as a giveaway home. In 2008, Iowa couple Stephanie and Tommy Dee won the home, but they opted for a cash prize instead of keeping the dwelling. The house was subsequently sold for $2 million shortly after the giveaway. It has since been sold on a few occasions, including in 2009 and most recently in 2021 for $8 million. The current owner, who purchased it in 2021, has redeveloped the property into a private resort. Listing agent Brett Newman, with the Newman Team at Coldwell Banker Schmitt Real Estate Co., described the compound as a "private resort to hang out," emphasizing the premium on space in the Florida Keys. The central structure of the compound is the original 2008 HGTV Dream Home, which was designed by Linda Woodrum. Newman noted that the interior decor of the approximately 3,200-square-foot home remains largely unchanged, describing it as a "time capsule" where the original design is preserved. The property now encompasses three structures, all integrated into the resort-like setting. The resort features a 100-foot pool, a significant amenity that contributes to its upscale appeal. The transformation into a private resort aims to leverage the desirable location and the unique history of the HGTV Dream Home, offering an exclusive experience for potential buyers. The asking price of $14.9 million represents a substantial increase from its 2021 sale price of $8 million, reflecting the extensive renovations and the development into a luxury resort. The property's evolution from a single-family home giveaway to a multi-structure private resort highlights the changing real estate landscape and the demand for unique, high-end properties in sought-after locations like the Florida Keys. The HGTV Dream Home program, which has been a popular feature for many years, typically showcases aspirational living, and this property's current iteration aligns with that theme by offering an expansive and luxurious lifestyle. The inclusion of a 100-foot pool is a notable feature that enhances the resort-like atmosphere. The property's history, starting as a dream home for a lucky winner and evolving into a high-value private resort, underscores its unique market position. The sale is being handled by Brett Newman of the Newman Team at Coldwell Banker Schmitt Real Estate Co., who is marketing the property as an exclusive waterfront compound.