Values Up in The Bridges and Seven Bridges

Entry to The Bridges; image by Google

The Bridges and Seven Bridges are bright spots on the real estate market for 2016. Our analysis of MLS data shows that prices are rising in those two communities.
A great example of this is the house at 8200 Lost Creek Lane in the east end of The Bridges. It sold new for $812K in 2014 and sold again in 2016 for $1.1M, an increase of nearly $300,000. Upgrades explain some of the differences (the 2016 listing included a golf cart and furniture) but it doesn’t look like $300K in added value.
8200 Lost Creek Lane sold for $812K in 2014; it was resold in 2016 for $1.1M. The house has 5 bedrooms and 4 1/2 baths in 4200 square feet, a backyard pool, and a location close to the Florida Turnpike. Image from County Appraiser.

Overall the average price for the 49 transactions in 2016 was just under $1.1M, up from $985K for 36 transactions in 2015 and $936K average of 19 transactions in 2014. Measured in dollars per square foot, the average for 2016 was $252/sq.ft., up from $241 in 2015 and $225 in 2014.
2016 was also the first time an MLS sale in The Bridges exceeded $2M. 16840 Crown Bridge Drive sold for $2.4M, up from its $1.9M sale price (not through MLS) in 2014.
16840 Crown Bridge Drive has 6 bedrooms, 6 full and 2 half baths in 7600 square feet under air (over 10,000 total) on a cul de sac lot with over 180º of water views.

It should be noted that a pool was added before the current sale, which is mentioned in the listing and shows up on the latest Google Maps satellite image (apparently taken within the past few weeks).
Image from Google.

Transactions in 2016 ranged from $660K for a 4 bedroom, 3 bath house (2500 square feet) up to the $2.4M. Of the 49 MLS transactions, 29 were under $1M and 20 were over $1M.
Another good example to understand price changes is 8652 Lewis River Road. The house sold in 2015 listed with four bedrooms for $870K. A year later it sold for $960K (up $90,000). The 2016 listing included five bedrooms and noted $135K in upgrades. It is unclear how much of the upgrades, if any, were included in the 2015 listing which indicated “top of the line” upgrades already.
8652 Lewis River Road; image from County Appraiser.

On the numbers alone it appears that transaction prices are up in The Bridges and Seven Bridges. A source tells us that new home sales are slowing in Seven Bridges but we can’t confirm that and it certainly seems like volume is up.
Both developments are gated communities from GL Homes, one of the leading builders in the area (also active in other parts of Florida). New homes there include impact glass, natural gas connections, and lawn care provided by the association. Reported HOA fees range from near $400/month up to the mid-$500s. They are located just north of the Boca/Delray line.
Map showing location of Seven Bridges (left of Lyons) and The Bridges (right of Lyons). Image and map data by Google.

Seven Bridges is newer and has an additional gate on US-441. The main gate is on the west side of Lyons Road. Across Lyons is the main gate for The Bridges, which extends to the Turnpike. Stone Creek Ranch and Mizner Country Club are to the north. The Oaks is a little south of Seven Bridges.