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For the first half of 2018, home sales that closed in The Bridges averaged 1.04 million at $268 per square foot. Most homes sold between $800,000 and $1.5 million but there was one that sold for $2.3 million and a seven homes sold under $800K, mostly smaller models around 2600 square feet. Twenty seven homes sold, ten of them for more than $1 million.
Seven Bridges homes averaged higher at nearly $1.4 million with most going between $900,000 and $2 million. Three homes sold just under $900K, with only one of them smaller than 3200 square feet. The average was just over $300 per square foot. Seventeen homes sold in total with twelve of them over $1 million.
The Bridges transactions are all or nearly all resales of existing homes. They sell, on average, in close to four months. Many of the Seven Bridges transactions are new homes and they’re taking over five months to sell. On both sides of Lyons Road they’re actually taking longer to sell because the numbers don’t include failed listings. Sixty listings expired or canceled in the first half of the year, more than the 44 that closed.
For example 9610 Labelle Court in Seven Bridges was purchased from the builder in early 2016 for $2 million. After the buyer did substantial upgrades it was listed by a Miami-based brokerage in 2016 for $2.9 million. That listing canceled after four months, and then another Miami broker listed it for $2.3 million. It’s a 6-bedroom house with 7500 square feet, 7 full bathrooms, 2 half baths, and loaded with features and high end finishes. In the middle of 2017 the seller switched to a Palm Beach County realtor. The house finally closed in early June for $2.05 million. The statistics show it was on the market for 10 months but it was really 22 months.
The biggest transaction of the year so far was in Seven Bridges where 16525 Fleur De Lis Way sold for $3.2 million. It’s a six bedroom house with six full bathrooms and another two half baths, all in just over eight thousand square feet. The house was bought new from the builder in 2016 for $2.9 million. The new owners are a successful business couple. The wife is a casino executive and is now president of the Atlantis resort in the Bahamas.
The second biggest deal was in The Bridges, 16876 Crown Bridge Drive, at $2.3 million for a six bedroom in 7500 square feet. The average sale in the Bridges was 3900 square feet, while the average in Seven Bridges was 4600 square feet.
While the vast majority of the homes are selling for well over $200/sq.ft. and some over $300/sq.ft., there are still some “bargains” in The Bridges. Just under $190 per square foot were 8658 Lewis River Road ($960,000 for a 5200 square foot 5-bedroom) and 16658 Gateway Bridge Drive ($796K for a 6-bedroom with 4300 square feet).
Three restaurants in and near West Boca were hit with 20 or more violations in early July. At the “top” of the list was Fat Boyz BBQ in Deerfield Beach with 26 violations including 7 marked high priority and stop sale orders on several items:
Potentially hazardous (time/temperature control for safety) food cold held at greater than 41 degrees Fahrenheit. Cheese 56-60°F – Cold Holding in walk-in cooler. Food in cooler with ambient temperature of 62-64F overnight. Food not maintaining 41F or below for longer than 4 hours. Food has not been pulled , portioned or prepped . See stop sale.
Potentially hazardous (time/temperature control for safety) food cooked/heated yesterday/on a previous day not cooled from 135 degrees Fahrenheit to 41 degrees Fahrenheit within a total of 6 hours. Food has been cooling overnight. Pasta salad 46-51°F; Ribs 46-48°F; brisket 46-50°F, Chicken 46-48F , beans 46-48F and sweet potatoes 46-48F all at walk-in cooler. Foods cooling overnight at walk-in cooler with an ambient temperature of 62-64F in covered over-stacked containers. Foods have been cooling since approximately 9 pm last night. See stop sale.
Raw animal food stored over cooked food. Raw turkey stored over cooked pasta salad in walk-in cooler and raw shelled eggs over cut cabbage at walk-in cooler. Operator removed raw turkey. **Corrected On-Site**
Shell eggs held in a unit maintaining an ambient air temperature greater than 45 degrees Fahrenheit. Whole shelled eggs at walk-in cooler cold holding at an ambient temperature of 62-64F. Food in cooler overnight. Food not maintaining an ambient temperature of 45F or below for longer than 4 hours. Food has not been pulled , portioned or prepped . See stop sale.
Stop Sale issued on potentially hazardous (time/temperature control for safety) food due to temperature abuse. Potentially hazardous (time/temperature control for safety) food cooked/heated yesterday/on a previous day not cooled from 135 degrees Fahrenheit to 41 degrees Fahrenheit within a total of 6 hours. Food has been cooling overnight. Pasta salad 46-51°F; Ribs 46-48°F; brisket 46-50°F, Chicken 46-48F , beans 46-48F and sweet potatoes 46-48F all at walk-in cooler. Foods cooling overnight at walk-in cooler with an ambient temperature of 62-64F in covered over-stacked containers. Foods have been cooling since approximately 9 pm last night. Potentially hazardous (time/temperature control for safety) food cold held at greater than 41 degrees Fahrenheit. Cheese 56-60°F – Cold Holding in walk-in cooler. Food in cooler with ambient temperature of 62-64F overnight. Food not maintaining 41F or below for longer than 4 hours. Food has not been pulled , portioned or prepped . Shell eggs held in a unit maintaining an ambient air temperature greater than 45 degrees Fahrenheit. Whole shelled eggs at walk-in cooler cold holding at an ambient temperature of 62-64F. Food in cooler overnight. Food not maintaining an ambient temperature of 45F or below for longer than 4 hours. Food has not been pulled , portioned or prepped . See stop sale.
Toxic substance/chemical improperly stored. Medicine ( Bayer tables) on shelf by cookline next to spice containers. Spic n Span cleaner next to gloves in front counter area.
Vacuum breaker missing at hose bibb or on fitting/splitter added to hose bibb. On outside of building , on east side.
La Granja near Town Center and the fairly new Orient Garden in the Sandalfoot Publix plaza were both up there. La Granja had 22 violations with 5 high priority, and Orient Garden had 20 violations with 6 high priority. Orient Garden (which may go by the name Oriental Garden) also had a stop sale:
Stop Sale issued on potentially hazardous (time/temperature control for safety) food due to temperature abuse. 3 qts. of egg drop soup (119°F – Hot Holding); 2 qts. of sweet and sour sauce (121°F – Hot Holding); 5 qts. of wonton soup (120°F – Hot Holding) all in hot hold for 4 hours.
Perfect inspections were reported for Dunkin Donuts at Kimberly & Lyons, Tutti Frutti in Shadowood, and the Subway across from the International Jewelry Exchange. The Brendy’s at Jog and Clint Moore was near perfect with one minor violation.
Some other good reports were:
Jimmy John’s in Westwinds (Home Depot plaza) and Subway in Boca Greens, each with two minor violations
Phenomenom Nitrogen Ice Cream in Polo Club Shoppes with two minor violations
Jersey Mike’s Subs in Somerset Shoppes (Glades & Lyons) and Dunkin Donuts by the Jewelry Exchange with two violations each
Jon Smith’s Subs and Domino’s Pizza in Mission Bay with three violations each, and Panera in Mission Bay with four violations
Others worth noting in this report include:
House of Bread & Coffee near Sandalfoot and Cumberland Farms (18 violations, 3 high priority)
City Boys Pizza on Sandalfoot (16, 3)
Pollo Tropical at Lowe’s on 441 (16, 1)
IHOP in Mission Bay (15, 3)
Bagel Factory Cafe (formerly Boca Kosher Bagel) in the Boca Grove plaza (15, 1)
El Balcon de las Americas at 441 and Sandalfoot (13, 4)
Fresh Kitchen on Military Trail (10, 0)
Maya Flavors of India on St. Andrews near Town Center (9, 2)
Hashi Sushi Thai in Shadowood (8, 0)
Yokohama in Boca Lyons Plaza (6, 0)
Dominic’s on Glades by the Turnpike (5, 0)
As usual our spreadsheet for this report is below:
The average price in The Oaks fell to $1.11 million in the first half of 2018, down from $1.26 million in 2017. On a dollars per square foot basis prices also fell from $244 per square foot to $221 per square foot, a 9.4% drop. What this really reflects is that 2017 was a good year for sellers and this year appears to be returning to similar numbers we saw in 2016.
Twenty three homes sold so far this year. On the bright side this is a faster pace than 2017 where a total of 36 homes closed in the full year. There are currently 39 listings, down significantly from the 50 we reported earlier in the year. The reduced saturation may help sellers going forward.
More listings failed than closed, with 23 listings canceled and another 6 expired. The average transaction took over five months, but that doesn’t account for previous failed listings of those houses.
The top price so far this year is $2.05 million for 17738 Middlebrook Way. Built in 2004, this genuine mansion has seven bedrooms in nearly 10,000 square feet on a 1/3 acre cul de sac lot. The seller was Kenneth Hudson, CEO of a prominent South Florida advertising firm. All other sales were 6500 square feet or less.
The biggest deal in dollars per square foot was 17519 Cadena Drive selling for $1,745,000. At just under 3450 square feet it works out to $320 per square foot. Built in 2015, it just sold at the end of June and the property appraiser records have not updated yet. The only other home selling for over $300 per square foot, and just barely, was 9082 Pintura Way at $1.63 million for 5400 square feet.
The best bargain was 17541 Circle Pond Court selling for $1.09 million for this 6500 square foot house with six bedrooms, seven full bathrooms and three half baths. It’s loaded with features including an 11-seat media room.
The seller was Benzion Abboud, a noted entrepreneur, investor and an interesting guy. You can see an interview with him here:
The house was on and off the market a few times dating as far back as 2008 with list prices as high as $2.7 million.
The two lowest prices were foreclosed, bank-owned homes. 17874 Lake Azure Way sold for just $500,000. Short sale attempts failed in 2010 and 2011, and the foreclosure was completed in 2013. JP Morgan Chase Bank sat on it for a few years until they listed it in 2017. It foundered on the market until an investor finally bought it and even then the transaction took another six months to close. With a price this low it could have been a house with defective drywall but we can’t see any evidence of that. It otherwise seems to have great bones with five bedrooms in 4700 square feet. The other distressed sale was 17585 Middlebrook Way, another five bedroom house with 4300 square feet that sold for $695,100.
Overall ten of the homes sold for over $1 million and fourteen sold for less than a million. Most homes sold for $880,000 or more and the average home had five bedrooms in just over 5000 square feet.
Boca Chase includes two areas of single family homes to the west and east along with some 55+ senior communities in the middle.
Western Boca Chase
Thirteen single family homes sold in the western part of Boca Chase with prices ranging from a high of nearly $460,000 down to $265,000. This section of Boca Chase has less reported crime, perhaps because it’s further back or maybe criminals fear getting trapped in a place with only one way out. It’s one of the safest non-gated communities in West Boca and offers some great bargains for buyers.
Two somewhat larger houses sold for $450K or more. 11061 Lakeaire Circle in Impressions III closed at $459,000 with four bedrooms in 2700 square feet. The house was fully renovated with some nice features in the kitchen including a deep sink and a wine refrigerator. Selling at $450,000 even was Coral Bay’s 18116 Blue Lake Way, also a four bedroom with an extra full bath in 2800 square feet. This one had fewer updates but a waterfront lot.
A total of five homes sold in Impressions I, with three-bedroom 21421 Millbrook Court selling for the most at $415,000. That house took over 7 months to sell but the patient seller was rewarded with a good price for only 2100 square feet.
The low end prices were both in the Impressions subdivisions. At bottom was 21271 Sawmill Court, a foreclosed bank-owned 1900 square foot 3-bedroom that needs some work. Also below $300,000 was 11225 Jasmine Hill Circle, a 3-bedroom with 1700 square feet with a barebones listing from a Miami realtor indicating that the house needs TLC and upgrades.
Other than those two troubled homes, the floor in the western part of Boca Chase seems to be around $350,000. 21230 Sawmill Court sold for $350,900 with only two bedrooms in 1700 square feet. It did have some nice remodeling.
Eastern Boca Chase
The eastern section of Boca Chase is mostly single family homes with a small section of townhomes, though no townhomes sold in the first half of 2018.
Only one home sold over the $400K mark, 18484 102nd Way S in Bentbrook. It’s a four bedroom with 2300 square feet and it sold in just three days. The house is in an odd location, backed up the Florence Fuller center.
A few homes sold in the upper 300s. 10173 182nd Court S in Barrington went for $390,000 with four bedrooms in 2000 square feet. That house had extensive remodeling with some nice finishes, though the black kitchen appliances may have clashed for some buyers. It took three months to sell.
Two more of those homes sold in Bentbrook. 10331 186th Court S ($381,150, 3 beds, 2500 sq.ft.) and 10377 185th Street S ($380,000, 4 beds, 2300 sq.ft.).
The lower end held up better than in western Boca Chase with two smaller 1400 square foot houses in Hidden Lake selling for $318,000 and $310,000. Nothing sold below $310K, but there were no REO or short sale transactions.
We include Boca Vista in our Boca Chase report. It’s a small gated community of thirty homes. 10184 Boca Vista Drive sold for $385,000 with three bedrooms in 2000 square feet.
Boca Chase 55+
Twenty homes sold in the senior parts of Boca Chase with prices from $164,000 to $265,000.
The top prices for these active adult communities were in Greenbriar and Sweetwater. 10537 Greenbriar Court was the highest at $265,000 for the three bedroom with 1800 square feet. 10981 Lakemore Lane A in Sweetwater sold for $260,000 with two bedrooms in 1550 square feet. Nothing in these two communities sold for less than $205,000, with a total of thirteen sales.
Waterberry peaked at $195,000 for 10863 Waterberry, a two bedroom with 1400 square feet. Seven units sold with the bottom being two 1400 square foot villas at $164,000 and $165,000.
Ten single family homes within Lakes at Boca Raton sold in the first half of 2018 along with three townhomes and three villas. The single family home prices ranged from just over $300,000 for a foreclosed three bedroom to $492,500 for a four bedroom in Harbour Lakes with 2400 square feet. Townhomes and villas ranged from $200,000 to $242,500.
Single Family Homes
Harbour Lakes had the three top sales for the first half of the year. The biggest was 10738 Seacliff Circle at $492,500 for this four bedroom in 2400 square feet. Features include extensive remodeling with gorgeous floors, a screened-in pool and a large lot with lake view. 10756 Sea Cliff Circle, the same model just around the corner without the remodeling, sold for $435,000.
Two somewhat smaller four bedrooms homes sold in Cypress Bend for $412,000 (2100 square feet) and $400,000 (1900 square feet). Three homes sold in the mid-300s, one each in Pelican Cay, LaCrosse and Symphony.
The two lowest single family prices were in Port Cayman. 10696 Plainview Circle sold for $320,000 with three bedrooms in 1500 square feet. It took seven months to sell. Reading the phrase “everything is immaculate” in the listing and then looking at the photos may have caused cognitive dissonance for some prospective buyers.
Townhomes and Villas
The highest price for townhomes was $242,500 for 10274 Riverbend Terrace 14B, a three bedroom unit with just over 1200 square feet. It was the largest unit sold so far this year. All the rest were two bedroom units with 1100 square feet or less. A few doors down the villa at 10282 Riverbend Terrace sold for $220,000 with just 1000 square feet.
The low end was 10324 Windswept Place, the same model villa that sold for $199,900.
Prices fell sharply in The Shores for the first half of 2018 with an average of $496,000, down nearly 7% from the $531,000 average in 2017. This was largely due to the size of homes in the transactions as the per square foot price held steady at $171.
Eleven homes sold at a 22/year pace, a bit faster than the 19 transactions for 2017.
Five of the eleven transactions were over $500,000 or more, peaking at $551,000 for 11301 Sea Grass Circle, a four-bedroom with 3100 square feet all on one floor. The house includes a bonus second kitchen. Right behind that at $550,000 was 18576 Ocean Mist Drive, a six-bedroom with 3400 square feet on two floors.
Three 2900 square foot homes clustered in price just under $500K with two selling at $495,000 and one $493,000.
At the low end two smaller houses sold not far over $400K. The 2100 square foot three bedroom at 11484 Sea Grass Circle sold for $422,000, while 11435 Sea Grass Circle sold for $407,000 with four bedrooms in 2300 square feet.
On the bright side the houses are not taking as long to sell, averaging less than two months on the market. That statistic can be misleading as a few of the homes sold only after earlier listings failed. For example 11090 Blue Coral Drive sold on its fourth listing after it first went on the market in March of 2017.
The Shores remains somewhat saturated with 10 listings or about 3% of the homes in the development. That level of seller competition makes it a bit easier for buyers to find a deal.
Saturnia continues to be a luxury buyer’s bargain. The average price through June of this year fell to $619,000, down from $630,000 in 2017 and $638,000 in 2015. The first half of 2018 saw an increase in the pace of transactions with 21 homes sold. This is on pace for 42 transactions for the full year, up from 33 in 2017 and 23 in 2016. The community is now slightly more saturated than before with 14 homes listed, which is 3.4% of the community.
Three homes sold for over $700,000, while only one sold below $500K. As usual for Saturnia most of the higher prices were for houses over 4000 square feet. The highest price was $735,000 for 19329 Skyridge Circle, a 5-bedroom, 4-bath in 4100 square feet over two floors that sold in just two weeks. It’s gorgeous. On the outside it has an extra-large backyard thanks to a large lot (2/5 or 0.4 acre) and large covered patios on both floors overlooking the swimming pool and hot tub. Inside has all the right touches including a loaded kitchen – extra large refrigerator, double oven, all in stainless with granite and upgraded tile floors.
Not far behind was 19534 Saturnia Lakes Drive, selling for $730,000 with a much larger 4700 square feet. This is another gorgeous house with an over the top backyard including outdoor kitchen and an amazing pool with waterfalls and a slide.
Both of those homes sold in less than a month. By contrast 11755 Bayfield Drive is smaller and took over 7 months to sell, but the price of $720,000 for 3500 square feet was a better deal for the patient seller. The house does not have all the features of the two others, but it is on one floor and has a lake view.
A total of 14 homes sold for $600,000 or more, all with at least 3100 square feet.
Most of the homes selling below $600,000 were 2700 square feet or less, though 11747 Bayou Lane sold for $545,000 with over 3300 square feet. This may be another example where hiring Miami-based realtors did not help the seller. This was the third listing since it first went on the market in 2016, all three with Miami realtors. It took about 18 months to finally get it sold and the price was well below market value, despite extensive renovations.
At the low end, 19101 Skyridge Circle sold for $515,000 with 2800 square feet. 19150 Skyridge Circle sold for $500,000 even with 2700 square feet, and 19681 Estuary Drive was the bottom at $465,000. All three are four-bedroom models.
Boca Greens home prices stopped rising. The average price in the first half of 2018 was $415,000, down 1.1% from 2017. Over the past few years prices have been going up for various reasons, but they may finally have hit their peak.
The pace of transactions continued with 25 sales in first half of 2018, dead on with the rate of 50 per year from last year. The top price of $484K is well below the 2017 high of $650,000. Last year three homes sold for over $500,000.
There’s good news at the low end. The lowest price was $308,000, well above the two homes that sold last year at $255,000 and $260,000.
10440 Canoe Brook Circle sold for $484,500. It’s a four bedroom, three bath home in 2500 square feet. Next was 10370 Camelback Lane, also 2500 square feet, at $472,000.
The biggest home was 10447 Canoe Brook Circle with 2800 square feet. It sold for $457,500, after nearly 8 months on the market. Three other homes sat on the market even longer with one taking over 450 days. This pushed the average “days on market” to 106 days. Taking out those four houses dropped the average to 64 days (just over two months).
The low end was comprised of smaller 1500 square foot two-bedroom houses. 10066 Camelback Lane sold for $308,000 and 10150 Camelback Lane for $325,000. A total of 8 houses sold under $400,000.
28 houses sold in Boca Isles in the first half of 2018, 18 of them in Boca Isles South. None were over $700,000 though 7 of the sales were for over $600,000. In 2017 four homes went over the $700K mark. The low end was also lower with two homes selling under $400,000, compared to one for all of last year. The average price for all of Boca Isles was $531,000, down 2.4% from last year. The number of sales this year is also a little lower so far, while houses still average getting to contract in just over two months.
Boca Isles South
The four highest prices were all in Boca Isles South. All four have five bedrooms and 3200 or more square feet, and the top price went to 10897 Bal Harbor Drive at $695,000 with 3400 square feet.
Also above the $600K mark was 20111 Palm Island Drive at $623,000 with five bedrooms in only 2800 square feet, all on one floor.
Six homes sold in the 500s from $520,000 up to $580,000. 10611 Saint Thomas Drive sold for $555,000 with four bedrooms and three baths in 2900 square feet in a two floor model.
It was a big drop from there to the next group of four-bedroom houses selling from $414,500 up to $439,000. Three of the five were bank-owned foreclosures. Three of these lower prices were for the 2300 square foot four bedroom model. Keep in mind that last year we sold one of these models for $480,000.
The bottom price was $369,000 for another bank-owned 4-bedroom, though with 2900 square feet. Also under $400K was 19832 Dinner Key Drive, another four bedroom in 2300 square feet, which sold for only $376,210 despite a complete remodel. That’s over $50,000 less than the nearest comparable sale. The house was listed by a Miami Realtor and the photography was terrible.
Boca Isles North
There were 10 sales in Boca Isles North in the first half of 2018. Two sold above $600K. With five bedrooms in 2800 square feet on one floor, 10863 Japonica Court closed at $630,900. The house has a somewhat larger than usual backyard and had undergone some remodeling.
19433 Black Olive Lane sold for $610,000 with four bedrooms in 2700 square feet on two floors. The house has been off and on the market since 2014, was foreclosed in 2015, and then underwent a complete renovation including a new roof in 2015, but still took three years and substantial price drops to get sold.
A five bedroom, 3000 square foot model at 10752 Maple Chase Drive sold twice in three months, first for $565,000 in January and then for $584,000 in April. This is an odd thing we see once in a while, and it’s funny to see how different listings of the same house have different details including year built and HOA fees.
Three more houses sold in the 500s from $520K for a 4-bedroom with 2700 square feet to $560K for a 4-bedroom with 3000 square feet.
Two more 4-bedrooms sold in the high 400s ($475K and $489K) with around 2700 square feet each. And the lowest price in Boca Isles North was $412,500 for that 2300 square foot 4 bedroom model at 19400 Preserve Drive.
Prices are up in Lexington Estates, where nine homes sold in the first half of 2018. The top and bottom prices are above what they were in all of 2017. Still even the houses that sell well are getting less per square foot than comparable homes in similar gated communities.
One house broke the $500K mark. 22299 Tupelo Place sold for $510,000, with 4 bedrooms and 2 1/2 baths in 3000 square feet. The updated kitchen and some other nice features helped it sell in just one month.
On same cul de sac, the much smaller 22286 Tupelo Place had the low price at $375,000 with 3 bedrooms and 2 baths in only 1800 square feet. It has one of the best lot locations in the neighborhood but the house was in sore need of updates throughout. Only one other house sold for less than $400,000 and it was a bank-owned foreclosure.
Six of the nine houses sold for over $450,000. Going for $475,000 was 22176 Braddock Place, a 5-bed, 3-bath model with 3000 square feet and some high end features like marble floors. With all that it’s still less than $160/sq.ft.
The number of sales has increased dramatically in Paraiso (formerly known as Allegro). Seven homes sold in the first half of the year, up from six in all of 2017. There was only one sale under $300K (compared to 3 last year) but the high price was much lower as well.
10130 Fanfare Drive sold for $340,000 with 4 bedrooms and 2 1/2 baths in 2100 square feet. All the other homes that sold were much smaller, most under 1500 square feet.
10266 Allegro Drive sold for $330,000 with 3 bedrooms and 2 baths in 1450 square feet.
The lowest price was $290,000 for 22280 Tempo Way. The 3-bedroom with 1700 square feet is the closest house to the main gate and was due for some updates. It took over 8 months to sell. All the other houses sold in less than 2 months and most in 3 weeks or less.