Boca Falls 2016 Real Estate Report – Prices Up But …

21307 Rockledge Lane sold for $965K as a short sale in August. It was the biggest transaction of the year in Boca Falls. Image by Google

Boca Falls homes sold for higher prices in 2016 compared to previous years, but the numbers are mixed. The average transaction for the year was just under $593,000, up dramatically from the averages of $538K in 2015 and $522K in 2014. That’s a price increase of over 10% compared to the previous year.
21792 Marigot Drive sold for $860K, the second biggest price. Image by Google

When we dig into the numbers we find it’s not that simple. The reason for the increase appears to be the result of larger homes being sold. The average size in 2016 was nearly 3400 square feet (living area), up from 3100 square feet in 2015 and under 3000 square feet in 2014.
12443 Clearfalls Drive sold for $410K in a short sale, the smallest transaction in 2016. Image by Google.

Measured in dollars per square foot the 2016 average was $178/sq.ft, up from $174/sq.ft. in 2015 (a 2% increase). The number in 2014 was $177/sq.ft. Looked at this way Boca Falls home prices have not increased significantly in the last two years. We checked the numbers after taking out REO (foreclosure-related) and short sale transactions. It did not make a noticeable difference.
Click to read more about Boca Falls real estate.
21262 Falls Ridge Way sold for $483K, the smallest transaction not involving a foreclosure or short sale. Image by Google

If you’re thinking of buying or selling a home in West Boca, choose a Realtor® who knows the market. Call Warren at 888-733-5299 or e-mail him – warren@WestBocaNews.com.
This is the first in a series of articles analyzing West Boca real estate numbers from 2016. Coming soon we will do the same for Boca Winds, Boca Isles, Saturnia, The Oaks and plenty of others.