Villa de Como, a Mediterranean Revival-style bayfront estate at 5060 Gulf of Mexico Drive on Longboat Key, has sold for $6.88 million, making it the highest priced residential sale in Manatee County in July.

The five-bedroom, 10,000-square-foot estate (14,000 square feet including outdoor terraces), built in 2007, had been on the market since February 2016 with an original list price of $8.2 million.

The buyers are a couple with teenagers who are moving from Lakewood Ranch—unusual for Longboat Key, says St. Hilaire. With the bay in their back yard, and deeded beach access right across the street, it will provide an idyllic playground for the youngsters.

The sale illustrates the resurgence of the luxury resale market, says Beverly St. Hilaire of Michael Saunders & Company, who co-listed the property with Tak Konstantinou. (Ivo Travnicek of Regency Realty Services was the selling agent.) “Our luxury market until this year has not been particularly great, but this year things have turned around,” says St. Hilaire. Now, “it’s crazy. Things are selling.”

Villa de Como had competed against other luxury homes around the world—and won—the HGTV Home Sweepstakes award for “Making an Entrance.” Mark Sultana of DSDG was the architect.