$1,640,000 in Burleigh Cove: How 22 Lanai Drive Sold 21.9% Below the Suburb Median

A four-bedroom house on a 727 sqm block in one of Burleigh Waters' most tightly held pockets sold for $1,640,000 in July. That figure lands well under the suburb median — and the reason says as much about the home as it does about the market it sold into.

The Property

22 Lanai Drive sits in a quiet cul-de-sac inside the Burleigh Cove enclave, one of the more established residential pockets in Burleigh Waters. It's a four-bedroom, two-bathroom house with a double garage on 727 sqm — a genuinely large parcel by Burleigh Waters standards, where canal and near-water blocks are increasingly subdivided or built out to the boundary.

The home carries the standard family fit-out: air conditioning, heating, a dishwasher, and secure off-street parking for two. The listing leaned on the words "potential" and "opportunity" rather than a finished renovation, which is the honest signal here. This is a substantial floor plan on a substantial block, in a location people compete for — but it's the land and the address doing the heavy lifting, not a new kitchen or bathrooms. For a buyer, that combination is the appeal: a big block in Burleigh Cove that leaves room to add value over time.

The Market It Sold Into

Burleigh Waters has been running hot. Over the past 12 months the suburb median sat at $2,100,000 across 137 tracked sales, and annual house price growth reached +23.7%. On the ground, that has meant genuine competition for well-located family homes, with quarterly median days on market tightening to 33 days.

But the fuller picture is more nuanced. The most recent quarter showed prices pulling back -7.3% off the peak, supply sitting at 3.5 months, and stale listings — those on market beyond 60 days — climbing. That's the texture of a market still in expansion but no longer accepting any price on any home. Buyers in mid-2026 have been rewarding the right stock and walking past the rest. A home priced against the median without the finish to match now has to work harder than it would have a year ago.

The Campaign

22 Lanai Drive was listed from 13 April 2026 and sold on 23 July 2026 — a campaign that ran across a full quarter, considerably longer than the suburb's 44-day 12-month average. That's not a knock on the home; it's what the market told the seller. A large block in a blue-chip pocket priced below the median still needs the right buyer to see the land value and the upside, and that took time to find.

The final price of $1,640,000 came in 3.2% below the guide midpoint of $1,695,000. The gap between the guide and the result is modest, and it points to a seller and buyer meeting close to fair value after a patient campaign — rather than a bidding war or a fire sale.

The Result

22 Lanai Drive, Burleigh Waters sold on 2026-07-23 for $1,640,000. Listed from 13 April 2026 — a campaign longer than the suburb's 44-day average. Sold 3.2% below the guide midpoint of $1,695,000. Sold 21.9% below the Burleigh Waters median of $2,100,000. Also 21.9% below the four-bedroom median of $2,100,000. Capital gain of +215.4% since the last purchase in November 2005 ($520,000 → $1,640,000).

What This Means for Buyers and Sellers

For buyers active in Burleigh Waters, this sale is a useful marker. A four-bedroom home on 727 sqm in Burleigh Cove for $1,640,000 is a clear step below the $2,100,000 median — and the trade-off is the finish. The value on offer here is the land and the location, with the scope to renovate on your own terms. In a suburb where entry to the tightly held pockets usually starts higher, this sale records a home trading below the median with the finish, rather than the land or location, accounting for the gap.

For homeowners thinking about selling nearby, the lesson is about matching price to presentation. Burleigh Waters is still an expansion market with strong 12-month growth behind it, but the recent quarterly pullback and rising stale-listing count show buyers are discriminating. A well-presented, renovated home is still transacting quickly; an original home priced near the median will take longer and likely settle below it, as this campaign did. Reading where your home genuinely sits on that spectrum — before you list — is what protects your result.

Thinking of Selling in Burleigh Waters?

Fields tracks every sale in Burleigh Waters and across the southern Gold Coast corridor, so we know where the line sits between a home that commands a premium and one that trades on land value. That's the difference between a campaign that runs a fortnight and one that runs a quarter. Talk to the Fields team about what your home could achieve in today's market.

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Data note: Sale, guide, and price-history figures are drawn from Fields' internal sold database. Suburb median ($2,100,000), 12-month average days on market (44 days, across 137 tracked sales), and current market indicators for Burleigh Waters reflect Fields data as at July 2026. All price figures relate to houses.

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Disclaimer: The information in this article is for general informational purposes only and does not constitute financial, investment, or valuation advice. Fields Real Estate (Licence No. 4832972) makes no warranty as to the accuracy or currency of data published. Readers should conduct their own due diligence and seek independent professional advice before making any property or investment decision. Read our full disclaimer →