Prices Down in Boca Isles – Home Sales for First Half of 2018

Boca Isles sign; image by Google.

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.

Warren’s listing at 19641 Biscayne Bay Drive sold in 2017 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

Entrance to Boca Isles North; image by Google.

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.

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