The Boca Greens average home price rose again in 2017. The average home price was up 5% to $420,000 from $400,000 in 2016, and an 18% increase from 2014’s $378,000 average.
Last year three homes sold for over $500K for the first time in a few years. 2017 cracked the $600K barrier with one home selling for $650,000 and two more homes selling over $500K.
There were 49 Boca Greens homes sold in 2017 with prices mostly above $300,000. Two homes sold below that level with one a small 1200 square foot 2-bedroom at $255,000 and the other sold by a bank after foreclosure at $260,000.
The average for Boca Greens homes sold in 2017 was a 2200 square foot 3-bedroom bought for $420,000 after 3 months on the market.
The unicorn of the year was 10369 Canoe Brook Circle, a 3000 square foot 3-bedroom that sold for $650,000. The house was meticulously remodeled throughout, but $650K still seems very high for the neighborhood. It was over $100,000 higher than any other transaction.
It took over 8 months to find a buyer willing to pay for all those upgrades, and to get the seller to accept a price that low. The house was originally on the market for $760,000.
The biggest apparent bargain of the year in Boca Greens was 10448 Milburn Lane, a 2700 square foot 3-bedroom that sold for $395,000, or $145/sq.ft. It was due for significant renovations.
The highest paid for the least size was 19589 Sea Pines Way, a 1400 square foot 3 bedroom that got $373,000, or $260/sq.ft. The house was fully renovated in 2014.
The most average home was 10264 Crosswind Road, a 2200 square foot 3-bedroom selling for just under $420,000, or $194/sq.ft. It sold in just 3 days.
Some believe that the new Chabad in Boca Greens plaza, in walking distance for observant Jews, is the reason for the price increases. We have seen similar effects in other places like Century Village.