Prices fell sharply in The Shores for the first half of 2018 with an average of $496,000, down nearly 7% from the $531,000 average in 2017. This was largely due to the size of homes in the transactions as the per square foot price held steady at $171.
Eleven homes sold at a 22/year pace, a bit faster than the 19 transactions for 2017.
Five of the eleven transactions were over $500,000 or more, peaking at $551,000 for 11301 Sea Grass Circle, a four-bedroom with 3100 square feet all on one floor. The house includes a bonus second kitchen. Right behind that at $550,000 was 18576 Ocean Mist Drive, a six-bedroom with 3400 square feet on two floors.
Three 2900 square foot homes clustered in price just under $500K with two selling at $495,000 and one $493,000.
At the low end two smaller houses sold not far over $400K. The 2100 square foot three bedroom at 11484 Sea Grass Circle sold for $422,000, while 11435 Sea Grass Circle sold for $407,000 with four bedrooms in 2300 square feet.
On the bright side the houses are not taking as long to sell, averaging less than two months on the market. That statistic can be misleading as a few of the homes sold only after earlier listings failed. For example 11090 Blue Coral Drive sold on its fourth listing after it first went on the market in March of 2017.
The Shores remains somewhat saturated with 10 listings or about 3% of the homes in the development. That level of seller competition makes it a bit easier for buyers to find a deal.
Saturnia continues to be a luxury buyer’s bargain. The average price through June of this year fell to $619,000, down from $630,000 in 2017 and $638,000 in 2015. The first half of 2018 saw an increase in the pace of transactions with 21 homes sold. This is on pace for 42 transactions for the full year, up from 33 in 2017 and 23 in 2016. The community is now slightly more saturated than before with 14 homes listed, which is 3.4% of the community.
Three homes sold for over $700,000, while only one sold below $500K. As usual for Saturnia most of the higher prices were for houses over 4000 square feet. The highest price was $735,000 for 19329 Skyridge Circle, a 5-bedroom, 4-bath in 4100 square feet over two floors that sold in just two weeks. It’s gorgeous. On the outside it has an extra-large backyard thanks to a large lot (2/5 or 0.4 acre) and large covered patios on both floors overlooking the swimming pool and hot tub. Inside has all the right touches including a loaded kitchen – extra large refrigerator, double oven, all in stainless with granite and upgraded tile floors.
Not far behind was 19534 Saturnia Lakes Drive, selling for $730,000 with a much larger 4700 square feet. This is another gorgeous house with an over the top backyard including outdoor kitchen and an amazing pool with waterfalls and a slide.
Both of those homes sold in less than a month. By contrast 11755 Bayfield Drive is smaller and took over 7 months to sell, but the price of $720,000 for 3500 square feet was a better deal for the patient seller. The house does not have all the features of the two others, but it is on one floor and has a lake view.
A total of 14 homes sold for $600,000 or more, all with at least 3100 square feet.
Most of the homes selling below $600,000 were 2700 square feet or less, though 11747 Bayou Lane sold for $545,000 with over 3300 square feet. This may be another example where hiring Miami-based realtors did not help the seller. This was the third listing since it first went on the market in 2016, all three with Miami realtors. It took about 18 months to finally get it sold and the price was well below market value, despite extensive renovations.
At the low end, 19101 Skyridge Circle sold for $515,000 with 2800 square feet. 19150 Skyridge Circle sold for $500,000 even with 2700 square feet, and 19681 Estuary Drive was the bottom at $465,000. All three are four-bedroom models.
Boca Greens home prices stopped rising. The average price in the first half of 2018 was $415,000, down 1.1% from 2017. Over the past few years prices have been going up for various reasons, but they may finally have hit their peak.
The pace of transactions continued with 25 sales in first half of 2018, dead on with the rate of 50 per year from last year. The top price of $484K is well below the 2017 high of $650,000. Last year three homes sold for over $500,000.
There’s good news at the low end. The lowest price was $308,000, well above the two homes that sold last year at $255,000 and $260,000.
10440 Canoe Brook Circle sold for $484,500. It’s a four bedroom, three bath home in 2500 square feet. Next was 10370 Camelback Lane, also 2500 square feet, at $472,000.
The biggest home was 10447 Canoe Brook Circle with 2800 square feet. It sold for $457,500, after nearly 8 months on the market. Three other homes sat on the market even longer with one taking over 450 days. This pushed the average “days on market” to 106 days. Taking out those four houses dropped the average to 64 days (just over two months).
The low end was comprised of smaller 1500 square foot two-bedroom houses. 10066 Camelback Lane sold for $308,000 and 10150 Camelback Lane for $325,000. A total of 8 houses sold under $400,000.
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.
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
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.
Prices are up in Lexington Estates, where nine homes sold in the first half of 2018. The top and bottom prices are above what they were in all of 2017. Still even the houses that sell well are getting less per square foot than comparable homes in similar gated communities.
One house broke the $500K mark. 22299 Tupelo Place sold for $510,000, with 4 bedrooms and 2 1/2 baths in 3000 square feet. The updated kitchen and some other nice features helped it sell in just one month.
On same cul de sac, the much smaller 22286 Tupelo Place had the low price at $375,000 with 3 bedrooms and 2 baths in only 1800 square feet. It has one of the best lot locations in the neighborhood but the house was in sore need of updates throughout. Only one other house sold for less than $400,000 and it was a bank-owned foreclosure.
Six of the nine houses sold for over $450,000. Going for $475,000 was 22176 Braddock Place, a 5-bed, 3-bath model with 3000 square feet and some high end features like marble floors. With all that it’s still less than $160/sq.ft.
The number of sales has increased dramatically in Paraiso (formerly known as Allegro). Seven homes sold in the first half of the year, up from six in all of 2017. There was only one sale under $300K (compared to 3 last year) but the high price was much lower as well.
10130 Fanfare Drive sold for $340,000 with 4 bedrooms and 2 1/2 baths in 2100 square feet. All the other homes that sold were much smaller, most under 1500 square feet.
10266 Allegro Drive sold for $330,000 with 3 bedrooms and 2 baths in 1450 square feet.
The lowest price was $290,000 for 22280 Tempo Way. The 3-bedroom with 1700 square feet is the closest house to the main gate and was due for some updates. It took over 8 months to sell. All the other houses sold in less than 2 months and most in 3 weeks or less.
There were 18 home sales in the first half of 2018 in Boca Springs and Palmetto Pines. Two houses in Boca Springs sold for over $400,000, while Palmetto Pines topped out at $375,000.
Sellers in Boca Springs are getting more for their homes this year so far.
10291 W Sunstream Lane, pictured at top, has 4 bedrooms and 2 /12 bathrooms in 2300 square feet. The new roof and extensive remodeling helped it sell in 6 weeks for $435,000.
10880 Fox Glen Drive sold for $419,000 with 4 bedrooms and 3 bathrooms in 2700 square feet after more than 5 months on the market. The house was also extensively remodeled, but non-neutral design choices may have affected the sale.
The smaller 10711 Palm Spring Drive sold for $341,000 with 4 bedrooms and 3 bathrooms in 2200 square feet. The listing text described remodeling but the photos did not show that well.
Two homes sold below $320,000. One was a bank-owned foreclosure, 11172 Sandpoint Terrace, sold for $319,000 with 3 bedrooms in 1900 square feet. And 10303 Boca Springs Drive, with only 1600 square feet, sold for $315,000.
Palmetto Pines saw 13 sales in the first half of the year. At the top was 22074 Greenwich Court E with four bedrooms and two bathrooms in 1750 square feet all on one floor. The house sold in just 9 days, likely helped by professional photography that showed off the remodeling, lot size, pool and other features. Photography included multiple photo sessions and HDR software.
Two other homes sold for $350K or more. 22317 Boulder Street went for $359,900 with four bedrooms and three bathrooms in 2000 square feet, while 11178 Delta Circle was $350,000 even with three bedrooms and two baths in 1700 square feet – selling in just two days.
All but two of the remaining homes sold for over $300,000. For example 10901 Granite Street netted $327,000 with 3 bedrooms and 2 baths in 1450 square feet.
Second from lowest was the 1100 square foot house at 4562 Ararat Street, selling for $293,000. The lowest, at $267,000, was 4747 Betelnut Street, a bank-owned foreclosure.
Five homes sold in Palma Vista and two in Avalon in the first half of 2018. They seem to be moving slower as they all took over two months to sell and five of the seven took over 100 days, and prices seem to be down.
The highest price for both neighborhoods was $655,000 for a 6 bedroom, 3700 square foot two story at 21074 Bella Vista Circle in Palma Vista. The house had been rented out the past couple years. Overall Palma Vista home prices seem down a bit. It’s possible that the new “Uptown Boca” development to be built just northeast of the community is affecting values but we’re not sure if that’s it. Two of the homes were bank owned foreclosures. One of them sold for only $372,000 with 4 bedrooms and 2800 square feet all on one floor.
The other foreclosure was a large 3800 square foot house that sold for only $546,000. The best deal for a seller was 9736 Palma Vista Way selling for $526,000 with just 2500 square feet.
The community has a location with unique benefits, in particular the ability to walk into the Jewish Federation campus for the Jewish schools and JCC.
21830 Cypress Palm Court sold for $585,000 with 5 bedrooms in 3550 square feet. The house has deluxe finishes in the kitchen and at least one bathroom.
9786 Parkview Avenue sold for $580,000 with 5 bedrooms in 2900 square feet. The interior is a mix of recent upgrades with some dated features like flooring and windows.
157 homes sold in Boca Pointe in the first half of 2018, including 57 single family homes, 29 townhomes and villas, and over 70 condominiums. Pricing varied widely from $150,000 at the low end of the condos up to $800,000 at the top of single family homes.
Those shopping for homes need to be careful as a few listings misclassify townhomes and villas as condos or vice versa, or the homes don’t neatly fit into either category and the listings aren’t clear about it. We’ve seen this in other communities as well.
Boca Pointe is subdivided into several “villages” as shown on their map, below:
Single Family Homes
$800,000 was the top price in Boca Pointe in the first half of the year. 7154 Montrico Drive in Encantada (south of SW 18th) is a 4 bedroom, 4 1/2 bath house with 3900 square feet all on one floor. It has some nice features including a kitchen that’s over the top. The backyard has a screened in pool faces the Hillsboro Canal and county line.
The top 9 house sale prices were in Encantada and Esplanada down to $575,001 (yes, apparently someone negotiated to a single dollar like that). The second highest price was $722,500 for 22599 Esplanada Circle W, with 5 bedrooms and 4 baths in 3750 square feet on two floors. While it’s 33 years old, it looks modern and appears to have undergone substantial remodeling.
Houses in three other “villages” of Boca Pointe also broke the $500K mark including $555,000 for a 2800 square foot 3 bedroom in La Corniche, $530,000 for a 5 bedroom with 3000 square feet in Villa Flora. Two smaller houses in Palomar, right next to Esplanada, went for $515,000 (2400 square feet) and $500,000 even (1950 square feet). The latter looks like it was recently refreshed to sell the house. In total 15 houses sold for $500K or higher.
22 houses sold in the 400s spread over most of the single family villages. Among those the largest was a 2700 square foot 4 bedroom in Costa Brava that sold in just one week for $470,000. 6262 Brava Way is a two-story that had a dated interior but a good location with a large lot and views of the Hillsboro Canal. On the small side was 23105 Via Stel, an 1800 square foot 3 bedroom in great condition located in tightly packed Villa Stel.
Only one house sold for less than $300,000, 7338 Panache Way, at $280,000. It’s a 3-bedroom with 1900 square feet.
Townhomes and Villas
While most of the highest prices for townhomes and villas were in the new Pointe 100 section, some large ones in El Dorado Court also sold well. The top price went to 22806 El Dorado Drive in El Dorado Court, at $601,400. It’s a 4-bedroom townhome with over 3600 square feet. The even larger 22879 El Dorado Drive sold for $525,000 with 4 bedrooms and 5 bathrooms in nearly 4000 square feet.
Several Pointe 100 homes sold including 6712 Quiet Wave Trail 46 at $597,500. That model has 2200 square feet with 3 bedrooms and took over 5 months to find a buyer. A similar model at 6657 Quiet Wave Trail Unit #98 sold for over $100,000 less at $493,447. The low price for that section was 22954 Clear Echo Drive 29 at $459,000 for a 4 bedroom 2400 square foot model. The website indicates that Boca Pointe has sold out.
In the low 400s, another large El Dorado model sold for $410K while a villa and a townhome in Caravelle sold for $425K (2600 square foot villa) and $405K (2400 square foot townhome).
Two townhomes and a villa sold in the 300s, all close to 1700 square feet with prices from $320,000 to $350,000. Two were in Meridiana and one was in Plum.
13 units sold for prices below $300,000, down to $210,000 for a small 1100 square foot townhome in Plum.
Condo prices were mostly between $150,000 up to $395,000. There was one outlier on the high end with 7235 Promenade Drive unit 601 selling for an even $500,000 after nearly 5 months listed. The 3200 square foot 3-bedroom is fully renovated with nice finishes. Two floors up in the same Imperial Royale building the penthouse model #801 is 3400 square feet but with a dated interior. It sold for $395,000 in less than a month.
Other buildings with units selling for $350,000 or more include Promenade and Regency near the clubhouse. Also on the east side of Powerline 22760 Mandeville Place F in Montego Bay sold for $362,500, listed as a condo but it’s a second floor unit in a 2-story low-rise building that looks more like a townhouse, and includes a 1-car garage.
Ten units sold between $303,000 and $330,000 with sizes varying from 1600 to 2500 square feet in Promenade, Regency, Montego Bay, Villa Sonrisa, Southwinds and Lakes at La Paz.
Between $250,000 and $290,000 there were another twelve units, mostly in the same sizes but with two in La Paz as low as 1300 square feet. 7448 La Paz Place 204 was fully renovated and the 2 bedroom, 2 bath model with 1323 square feet sold in 2 1/2 months.
The biggest number of units – over 35 of them – sold between $200,000 and $247,500. Many of these are in La Paz but the group also includes Villa Sonrisa, Promenade, and Plum. Most of these are smaller, generally 1600 square feet or less with a few exceptions. 7546 La Paz Boulevard 205 is a typical unit at just over 1550 square feet with 3 bedrooms and 2 baths and some limited upgrades. It sold for $229,000 after just over six months on the market.
At the low end 16 units sold for prices below $200,000. All of them were under 1600 square feet with some as small as 1100 square feet, most in La Paz, Plum and El Viento. 6683 Via Regina and 6666 Via Regina in Plum each sold for $190,000, both 2 bedrooms with less than 1200 square feet on the second floor.
Boca Winds saw 26 home sales in the first half of 2018, with 9 of those in Ashley Park and 7 in Waterways. The community continues to have a low inventory with only 10 homes on the market. There is only one home listed in Ashley Park.
Low inventory often leads to higher prices as demand outstrips supply. Boca Winds certainly saw some good prices with 22257 Vista Lago Drive getting the highest by far at $680,000.
With 6 bedrooms in over 3500 square feet, the house has gorgeous lake views and significant upgrades. It was the only transaction in Carlyle Estates.
Four homes sold in the 500s with the 3600-square-foot 12672 Tucano Circle in Waterways going for $590,000. Our favorite spot in Boca Winds is Waters Edge Estates where 12613 Little Palm Lane sold for just over $550,000.
Ten homes sold in the 400s. 12641 Maypan Drive in Waterways sold for $490,000 with 5 bedrooms in 2900 square feet, while Ashley Park’s 22559 Grouper Court was purchased at $415,000. The high price in Ashley Park was 22480 Swordfish Drive at $425,000 with over 2200 square feet, a water view and even a little dock.
Nine homes sold in the 300s, most of them in Ashley Park with a couple in Regency Place. And two homes in Ashley Park went for under $300K. 22412 Sea Bass Drive took the low number at $280,000. I actually went to this for an open house. It felt even smaller than the 1300 square feet the listing reports, and the interior looks like it was never updated in 30 years.
The biggest buyer’s bargain was 12931 Elmford Lane in Regency Place, which has 1900 square feet and sold for $365,000. The house is on a cul de sac lot and has a short walk to the Hillsboro Canal and nature hikers might appreciate the easy access to the Fran Reich Preserve.
There’s a bit more inventory for buyers in Boca Falls with 11 homes currently listed, though four of the subdivisions have no listings at all.
22 houses sold in Boca Falls in the first half of 2018. Prices ranged from a low of $450,000 for a small 4-bedroom in the Cascades subdivision up to $735,000 for a 3800 square foot 5-bedroom in The Estates. Of the 22 sales, 6 were priced over $600,000 with the highest prices in The Estates ($735K and $660K for the same 3800 square foot model) and Crystal Pointe ($650K each).
Twelve sales were priced in the 500s from $505,000 to $585,900. Five houses sold under $500,000 including two bank-owned foreclosures. Other than a couple of problem listings, everything sold under $550,000 was small, generally under 2800 square feet.
Six homes sold in Crystal Pointe while there was only one each in The Estates, Cascades, and Emerald Pointe, and no sales in Victoria Falls.
The seller horror story was 12700 Yardley Drive in Emerald Pointe. The house was originally listed for $619,000 in April of 2017 by a discount broker. After a price reduction to $599,000 and 6 months on the market the listing expired. The seller listed again with the same real estate agent for another four months, lowering the price a few times until the listing expired again in February. With dogged determination the seller doggedly stuck with the same agent for another listing and another series of price reductions until they got down to $529,900 and it sold 6 days later for $519,000.
The sale price is well below what we see for similar houses. With over 3300 square feet the closing price works out to just over $150 per square foot. It’s a large house with updates throughout including marble in the bathrooms, wood floors, a media room, custom kitchen and more. We see a couple similar size homes in Boca Falls with fewer upgrades that sold quicker and for much better prices.
Loggers’ Run had 47 homes sold in the first half of 2018. 37 of the sales were single family homes, along with higher prices for the 10 townhomes and villas in Timberwalk.
There were only two transactions in the Winding Lakes subdivisions so far this year. 21503 Sweetwater Lane S in Winding Lakes III sold for $665,000, the highest in Loggers’ Run. The 5-bedroom, 3-bath house had extensive renovations and a nearly one-acre lot. The selling price was well below its original list price of $799,000.
In Winding Lakes I (south of Palmetto Park Road), 22396 Waterside Drive sold for $585,000 with 4 bedrooms, 2 1/2 baths, a 0.6 acre lot and a very impressive kitchen, all in 2900 square feet.
Also south of Palmetto, 22585 Lemon Tree Lane (picture at top of article) sold for $547,250 with 4 bedrooms and 2 baths in just 2500 square feet. This is another large lot at 1.2 acres.
North of Glades Road, three homes sold in Island Lakes including 11874 Island Lakes Lane at $580,000. This is a rare two-story home in Island Lakes with 5 bedrooms and 3 1/2 baths in nearly 3100 square feet. The house sold in just 7 days. With higher list price and patience the sale price could have topped $600,000.
The other two sales in Island Lakes were the popular 2440 square foot model with 11560 Island Lakes Lane selling at $500,000 in just 5 days and 11720 Island Lakes Lane at $450,000 after 3 months on the market. The lower priced home had a more dated interior, though an arguably better location.
Indian Head was very active with eight sales already, compared to eight sales for all of 2017. 21044 Shady Vista Lane was the only home in 2018 so far that sold for over $400,000 at $440,000. That house has 4 bedrooms and 2 baths in 2100 square feet. Thanks to fresh renovations it sold in just 5 days.
Two homes on Shady Vista sold for $390,000 each, at 21077 Shady Vista Lane and 20972 Shady Vista Lane. Selling for $380,000 was 20858 Sugarloaf Lane, and two more sold for $370,000 – 21269 Purple Sage Lane and 20847 Sugarloaf Lane. These are all 3 and 4 bedroom homes between 1900 and 2500 square feet, and all sold in less than two months.
The low end in Indian Head was 21230 Raindance Lane at $335,000 with 3 bedrooms and 2 baths in 2000 square feet. It’s not clear from the listing why it sold for so much less, but it sat on the market for nearly 5 months.
Crystal Cove Estates
The newer homes on Kensington Court continue to sell well. Prices and sales volume are similar to 2017. There have been two sales so far in 2017:
The nearly 3900 square foot house at 11605 Kensington Court sold for $642,500 after 10 months on the market. Smaller but all on one floor, 11597 Kensington Court sold for $611,000 in less than three weeks.
As usual the Country Landing subdivisions were the busiest with 17 transactions so far in 2018. Prices varied more with a low of $295,000 for the small 1400 square foot house at 11418 Country Sound Court in Country Landing I, and three houses going for over $450,000.
In Country Landing 4, north of Glades Road, 11956 Sunchase Court sold for $465,000 with 4 bedrooms and 2 baths in 2000 square feet, and it went in just 3 days. Next door the same model at 11944 Sunchase Court got $455,000, also selling quickly.
Two more of the same model sold in Country Landing 3 over $400K with 21100 Woodspring Avenue at $457,400, in just 11 days, and next door 21090 Woodspring Avenue at $415,000 in only 5 days. And three more sold under $400K. A bank-owned foreclosure sold for only $330,000, while the other two went for $365K and $395K.
Country Landing I had 3 sales including the $295K low price, and two 1900 square foot 4-bedrooms at $380K and $350K.
There were six sales in Country Landing II, most in the mid-300 price range. 11668 Quiet Waters Lane managed to get $394,000 with only 1640 square feet. Listed as needing TLC, 21303 Summertrace Circle only got $315,000 out of its 1750 square feet.
Cimarron continues to sell well with a high price of $420,000 for the 1900 square foot 3 bedroom at 21636 Little Bear Lane. The low there was 11480 Chipmunk Drive with 2600 square feet, the price possibly affected by its corner location facing busy Ponderosa Drive.
Prices are up 7.5% in Timberwalk to an average of nearly $250,000. Of the 10 transactions this year so far, only two were below the 2017 average of $232,000, and only slightly below at $225K and $226K. Six of the transactions in the first six months of 2018 were at $250,000 or above, compared to four for all of 2017. The high price remains at or near $275,000, with 22529 Vistawood Way selling for just above that with 3 bedrooms and 2 baths in 1400 square feet.