Boca Chase Homes 2018 First Half

Boca Chase entrance; image by Google.

Boca Chase includes two areas of single family homes to the west and east along with some 55+ senior communities in the middle.

Western Boca Chase

Thirteen single family homes sold in the western part of Boca Chase with prices ranging from a high of nearly $460,000 down to $265,000. This section of Boca Chase has less reported crime, perhaps because it’s further back or maybe criminals fear getting trapped in a place with only one way out. It’s one of the safest non-gated communities in West Boca and offers some great bargains for buyers.

The western section of Boca Chase with single family homes. Image and map data by Google and MLS service.

Two somewhat larger houses sold for $450K or more. 11061 Lakeaire Circle in Impressions III closed at $459,000 with four bedrooms in 2700 square feet. The house was fully renovated with some nice features in the kitchen including a deep sink and a wine refrigerator. Selling at $450,000 even was Coral Bay’s 18116 Blue Lake Way, also a four bedroom with an extra full bath in 2800 square feet. This one had fewer updates but a waterfront lot.

11061 Lakeaire Circle; image by Google.

A total of five homes sold in Impressions I, with three-bedroom 21421 Millbrook Court selling for the most at $415,000. That house took over 7 months to sell but the patient seller was rewarded with a good price for only 2100 square feet.

The low end prices were both in the Impressions subdivisions. At bottom was 21271 Sawmill Court, a foreclosed bank-owned 1900 square foot 3-bedroom that needs some work. Also below $300,000 was 11225 Jasmine Hill Circle, a 3-bedroom with 1700 square feet with a barebones listing from a Miami realtor indicating that the house needs TLC and upgrades.

Other than those two troubled homes, the floor in the western part of Boca Chase seems to be around $350,000. 21230 Sawmill Court sold for $350,900 with only two bedrooms in 1700 square feet. It did have some nice remodeling.

Eastern Boca Chase

The eastern section of Boca Chase is mostly single family homes with a small section of townhomes, though no townhomes sold in the first half of 2018.

The eastern part of Boca Chase. Image and map data by Google and MLS service.

Only one home sold over the $400K mark, 18484 102nd Way S in Bentbrook. It’s a four bedroom with 2300 square feet and it sold in just three days. The house is in an odd location, backed up the Florence Fuller center.

18484 102nd Way S; image by Google.

A few homes sold in the upper 300s. 10173 182nd Court S in Barrington went for $390,000 with four bedrooms in 2000 square feet. That house had extensive remodeling with some nice finishes, though the black kitchen appliances may have clashed for some buyers. It took three months to sell.

Two more of those homes sold in Bentbrook. 10331 186th Court S ($381,150, 3 beds, 2500 sq.ft.) and 10377 185th Street S ($380,000, 4 beds, 2300 sq.ft.).

The lower end held up better than in western Boca Chase with two smaller 1400 square foot houses in Hidden Lake selling for $318,000 and $310,000. Nothing sold below $310K, but there were no REO or short sale transactions.

Boca Vista

We include Boca Vista in our Boca Chase report. It’s a small gated community of thirty homes. 10184 Boca Vista Drive sold for $385,000 with three bedrooms in 2000 square feet.

Boca Chase 55+

Twenty homes sold in the senior parts of Boca Chase with prices from $164,000 to $265,000.

Map showing senior community area of Boca Chase; image and map data by Google and MLS.

The top prices for these active adult communities were in Greenbriar and Sweetwater. 10537 Greenbriar Court was the highest at $265,000 for the three bedroom with 1800 square feet. 10981 Lakemore Lane A in Sweetwater sold for $260,000 with two bedrooms in 1550 square feet. Nothing in these two communities sold for less than $205,000, with a total of thirteen sales.

Waterberry peaked at $195,000 for 10863 Waterberry, a two bedroom with 1400 square feet. Seven units sold with the bottom being two 1400 square foot villas at $164,000 and $165,000.

Lakes at Boca Raton $300K to $500K – First half of 2018

Roundabout on Cain north of Yamato in Lakes at Boca Raton; image by Google

Ten single family homes within Lakes at Boca Raton sold in the first half of 2018 along with three townhomes and three villas. The single family home prices ranged from just over $300,000 for a foreclosed three bedroom to $492,500 for a four bedroom in Harbour Lakes with 2400 square feet. Townhomes and villas ranged from $200,000 to $242,500.

Single Family Homes

10738 Seacliff Circle sold for $492,500; image by Goole.

Harbour Lakes had the three top sales for the first half of the year. The biggest was 10738 Seacliff Circle at $492,500 for this four bedroom in 2400 square feet. Features include extensive remodeling with gorgeous floors, a screened-in pool and a large lot with lake view. 10756 Sea Cliff Circle, the same model just around the corner without the remodeling, sold for $435,000.

Two somewhat smaller four bedrooms homes sold in Cypress Bend for $412,000 (2100 square feet) and $400,000 (1900 square feet). Three homes sold in the mid-300s, one each in Pelican Cay, LaCrosse and Symphony.

10696 Plainview Circle; image by Google.

The two lowest single family prices were in Port Cayman. 10696 Plainview Circle sold for $320,000 with three bedrooms in 1500 square feet. It took seven months to sell. Reading the phrase “everything is immaculate” in the listing and then looking at the photos may have caused cognitive dissonance for some prospective buyers.

Townhomes and Villas

The highest price for townhomes was $242,500 for 10274 Riverbend Terrace 14B, a three bedroom unit with just over 1200 square feet. It was the largest unit sold so far this year. All the rest were two bedroom units with 1100 square feet or less. A few doors down the villa at 10282 Riverbend Terrace sold for $220,000 with just 1000 square feet.

The low end was 10324 Windswept Place, the same model villa that sold for $199,900.

Prices Down in The Shores

Entrance to The Shores; image by Google.

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.

Shores at Boca Raton on map; image and map data by Google and MLS service.

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 Prices Continue Decline in 2018 First Half

Saturnia entrance; image by Google.

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.

Saturnia sales map for first half of 2018. Image and map data by Google and MLS service.

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.

Home Prices Cool Off in Boca Greens – First Half of 2018

Boca Greens entrance from US-441; image by Google.

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.

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.

47 Homes Sold in Loggers’ Run – Mid-Year Report for 2018

22585 Lemon Tree Lane in Tamarron; image by Google.

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.

Winding Lakes

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.

Tamarron

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.

Island Lakes

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

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.

Call or text Warren at 518-225-3710, or e-mail warren@westbocanews.com for help buying or selling homes in West Boca.

Country Landing

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.

11944 and 11956 Sunchase Court in Country Landing 4; image by Google.

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

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.

Timberwalk

22529 Vistawood Way sold for $275,500 with extensive remodeling inside; image by Google.

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.

Mission Bay Home Sales 2018 Through June

Mission Bay home sales for the first half of 2018. Image and map data by Google. Additional data by FlexMLS and Warren Redlich.

A total of 42 homes sold in Mission Bay in the first half of 2018, including 31 single family homes and 11 townhomes.

Single Family Homes

Only one home sold in Cordova Estates, at the second highest price in the development. 20369 Hacienda Court, with 5 bedrooms and 3 baths in 3,054 square feet, was purchased for $558,000 after five months on the market.

20369 Hacienda Court; image by Google.

The price seems low for the size and condition of the house, but the odd location on the corner of a makeshift cul de sac may have made it harder to sell.

Six houses sold in The Isle, including the highest price in Mission Bay. 10735 Avenida Santa Ana landed a buyer at $630,000 in only 47 days. The house has 5 bedrooms and 3 baths in over 3100 square feet on one floor, with some very nice finishes and features throughout the house

Two smaller 2500 square foot houses in the Isle sold for $490K and $495K while the lowest prices were $393K and $394K for two bank-owned foreclosures.

Sonata also broke the $500K mark with 20270 Monteverdi Circle selling at $529,000 in just 13 days. The 5 bedroom, 3 1/2 bath house has 3000 square feet on two floors.

The courtyard home at 20270 Monteverdi Circle sold for $529,000. It has a small pool or guest house facing the street. Image and map data by Google.

Not far behind was 10934 Ravel Court at $480,000 with 4 bedrooms in 3000 square feet. There were five other home sales in Sonata, with two of them below $400K. Both of those were due for some updating.

Rounding out the north side of Glades, six houses sold in Ventura, three of them between $460K and $465K. All of those were 4 bedrooms with roughly 2300 square feet and they sold quickly. Ventura had another quick sale at $450K, and one buyer got a bargain with 20380 Cozumel Court at only $380,000 with 2500 square feet, remodeling and a new roof. Two attempts to sell via Miami brokers failed and then a Palm Beach broker got it done.

The highest price south of Glades was $485,000 for 20940 Avenel Run in Regatta. The house has 4 bedrooms and 3 1/2 baths in 2800 square feet, and it sold in only 5 days. Recent renovation with high end finishes certainly helped.

Two houses sold in La Costa, with 20933 La Plata Court going for $450,000 with 4 bedrooms and 3 baths in only 2260 square feet. The seller had done some remodeling, especially in the kitchen, but the bathrooms were dated. It went fast after only 5 days on the market.

20933 La Plata Court; image by Google.

Also in La Costa the smaller 20921 La Plata Court sold for $379,000 in less than a month with 3 bedrooms in 1900 square feet.

Laguna had five sales. 10694 San Bernardino Way was the top there at $426,000 for a 4-bedroom in 2200 square feet. Right behind it in price, the larger 2900 square foot 5 bedroom at 10668 Santa Laguna Drive went for $123,500.

Two houses in Laguna sold very low at $321,000 and $313,500, both 3 bedrooms with 1900 square feet and in need of work. The cheaper one’s listing indicated a mold problem.

Harbour Springs had three sales. Two smaller houses with 1900-2000 square feet sold for $375,000 and $376,000, while the larger 2900 square foot 5 bedroom at 11201 Harbour Springs Circle took an even $400,000. The house was on and off the market for over 18 months and sold well below its $489,000 listing price.

Townhomes

Reflections saw 8 transactions from $274,000 for a 1600 square foot 2 bedroom on Via Marisa to $325,000 for 10490 Lake Vista Circle (3 bedrooms, 3 baths, 2000 square feet).

Three townhomes sold in a tighter range in Las Flores with a 1600 square foot 4-bedroom on Via Jasmine selling for $294,000 and two 1800 square foot models on Via Oleander each selling for $300,000.

Boca Woods and Stonebridge Home Sales 2018 So Far

Eighteen homes sold in Boca Woods for the first half of 2018, while Stonebridge saw eleven transactions. The mandatory membership golf club communities have seen home prices challenged by a high volume of homes listed and a limited number of buyers. Despite that the news in the first half of 2018 looks good for home sellers.

Boca Woods

The high price last year in Boca Woods was $410,000 and that was topped by two sales. 10842 Pine Bark Lane went for $450,000, while 11391 Boca Woods Lane got $430,000. On the downside four homes sold in a low range from $110,000 to $125,000. Three houses sold in the low $300s from $315K to $330K. Most of the lower priced homes are around 2000 square feet, while those over $250,000 were all 2800 square feet or larger.

Despite the saturation problem (currently 40 homes listed for sale), prices appear to have risen both on the high end and the low end.

Stonebridge

With 35 homes listed Stonebridge is still a buyer’s market. Two houses sold for $95,000, both lower than the 2017 low of $102,500. Three houses sold over $450K, but no others over $370K. The top price was $490,000 for 10818 Ashmont Drive, with 3 bedrooms and 4 baths in nearly 3600 square feet.

The best buyer’s bargain was 10578 Stonebridge Boulevard, with over 3500 square feet selling for just $255,000.

In 2017 there were 5 sales over $400k with two all the way up at $495K. There’s half a year to go for 2018 so there’s hope that there will be more sales in the high 400s or even one breaking the $500K mark. Three of the homes listed are asking for prices above $600K. Boca Woods home sellers are less ambitious with none listed over $500K.

February Real Estate Update for West Boca


What Sold?
Just a quick update on the West Boca real estate market at the end of February. 274 homes have sold this year so far, 176 of them (including 141 condos, townhomes and villas) for less than $300,000.
75 homes sold for prices between $300K and $500K, all but three of them single family homes.
From $500K to $800K there were only 16 transactions, 9 of them in Boca Falls with 4 more in Boca Isles and 2 in Saturnia.
Over $800,000 there were 7 transactions all near Clint Moore with 3 in The Oaks, 2 in Long Lake Estates, 1 in Le Rivage and the most expensive one in Horseshoe Acres by auction for $3.1 Million, well off the list price of $4.35M.
What’s For Sale?
West of the Turnpike and south of the Delray line there are currently 802 homes on the market including 396 single family homes, 112 townhomes and villas, 287 condos and 7 mobile homes.
447 homes are listed for $300,000 or less, mostly condos and townhomes.
Between $300K and $500K there are 193 homes, nearly all of them single family.
In the $500K-$800K range there are 86 for sale, all single family homes. They tend to be in specific neighborhoods including Boca Falls, Boca Isles, Saturnia, The Shores, The Oaks and Avalon, with a smaller number in Boca Winds, Boca Reserve, Palma Vista, Loggers Run and Mission Bay.
76 homes are listed above $800,000, concentrated in The Oaks and Long Lake Estates.
Did You Notice?
In the sub-$300K market the number of transactions was more than 60% of the number listed. Homes under $300K sell fast. Keep in mind the sales are over a two month span.
In the lower middle range between $300K and $500K this drops to less than 40%. From $500K to $800K it drops to less than 20%. And over $800K the number of sales in that two month window is less than 10% of the number listed.
This should not be a surprise but less expensive homes sell more quickly. At the high end the market is so saturated with homes for sale that it gets very tough to get a good price for your house and it may not sell at all. You have to be patient. If you need to sell quickly, you may have to price it below market value.
Saturation
When a lot of homes in the same community are on the market, it’s harder for a seller to stand out and get full value for their home. Buyers have a lot of other choices.
In The Oaks 10% of all the homes in the development are listed for sale. The country clubs are similar. 11% of the homes in Stonebridge are on the market. Boca Woods is doing a little better at 6% on the market. Avalon has 6% listed.
Perhaps the most saturated is Le Rivage, a small superluxury development on the northeast corner of Lyons and Clint Moore, where 5 of the 18 houses (28%) are listed for sale. Prices range from $2M up to $3.75M. Across the street Long Lake Estates has over 13% of its homes listed with prices from $1.1M to $7M.
Compare that to Boca Falls where there are only 20 houses listed right now, less than 3% of the development. In Saturnia there are currently 13 homes listed out of 414, just over 3%. The Shores, Boca Greens and Palma Vista all have about 4% of their homes on the market. Mission Bay has 18 houses listed.
Not Saturated
It may be a good time to list when few other homes are listed like yours.
Boca Isles has 19 homes listed out of 876 or around 2%. Boca Winds has even fewer with only 15 houses listed out of 1100 homes in total, not much over 1%. Inventory seems particularly thin in Loggers’ Run with only 11 single family homes on the market. There are only 2 homes listed in The Lakes at Boca Raton (north of Yamato near Cain, and only 6 single family listings in Boca Chase (plus 2 in the 55+ homes). Lexington Estates only has one home listed.
Another area that’s very thin is around Lyons Road south of Glades where there is one home for sale in Escondido and nothing in Timbers of Boca or Pine Springs. The road construction on Lyons may have discouraged sellers.