Stonebridge Country Club is a golf course community of 398 homes on the west side of US-441 north of Clint Moore. 23 homes sold in 2017 with prices ranging from just over $100,000 up to $495,000. The average price for 2017 was $311,500, a substantial drop from the 2016 average of $351,000. Communities with mandatory golf membership often face a challenging market for home prices and that doesn’t appear to be getting easier.
The average price in dollars per square foot was just over $100, well below the $180 or more that we typically see in West Boca gated communities. Ten of the transactions were for less than $100 per square foot and only two were over $130/sq.ft. The average home took just under four months to sell.
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10264 Spyglass Way was the lowest price and really an outlier at $102,500 for a 2600 square foot house with 3 bedrooms. It appears to have been a desperate sale by the estate of a deceased owner. All other homes sold for $180K or higher including two “REO” homes for just under $200K.
On the bright side five homes sold for over $400,000 including two at $495,000. 10499 Stonebridge Blvd sold for $495K with 5 bedrooms and 5 1/2 baths in nearly 4000 square feet. The smaller 10241 Shireoaks Lane also sold for $495K with 4 bedrooms and 3 1/2 baths in 3400 square feet. The top price in 2016 was only $482,500 so there’s some hope for homes at the higher end.
We’re getting an early start on our annual reports so it’s possible there will be one or two more transactions closed by the end of 2017.