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.

Boca Isles Homes Sold 2017

Boca Isles South has a nice community pool area and clubhouse.

2017 saw 65 homes sold in Boca Isles, 29 of them in Boca Isles North and another 36 in Boca Isles South. Four houses in Boca Isles South broke the $700K barrier with two more over $690K.
The average for both communities together was a 2700 square foot 4-bedroom selling for $544,000 at just under $200 per square foot in a little over 2 months.
Boca Isles South
Boca Isles South wins a close race this year. The average price was $550,000, selling slightly quicker and slightly larger than Boca Isles North.
The top sale was 10922 Bal Harbor Drive at $720,000 for a 5-bedroom with 3200 square feet. It took 5 months to sell but for the seller it was worth the wait to find a buyer who appreciated all the upgrades in this gorgeously remodeled home.
Five more of these 5-bedroom, 3200 square foot models sold for prices between $695,000 and $705,000, all in Boca Isles South.
We were pleased to sell 19641 Biscayne Bay Drive, a 2300 square foot house, for $480,000.
Warren’s listing at 19641 Biscayne Bay Drive sold for $480,000.

Sunset sky from backyard of 19641 Biscayne Bay Drive. Image copyright Warren Redlich.

That was the highest price for that model in Boca Isles South in 2017. Several others of that model sold for prices ranging from $360,000 to $465,000.
At the low end in Boca Isles South, three houses sold for $420,000 or less. Two were 3-bedroom models with just under 2000 square feet selling for $400K and $420K.

Boca Isles North
By comparison Boca Isles North was stronger at the low end. Only two homes sold for less than $470,000, one of them a short sale at $409,000 and the other a small 3-bedroom for $435,000.
Five homes sold between $472,500 and $495,000. The remaining 22 transactions were all for $510,000 or more.
The most typical of Boca Isles North was 19665 Black Olive Lane, a 2700 square foot 4-bedroom that sold for $535,000.
Homes in Boca Isles North did sell for a bit more on a dollars per square foot but they also took a few more days to sell.

Boca Isles, Saturnia, Boca Greens, Shores, Lakes at Boca Raton: Real Estate Report

We report on 17 homes sold from $330K to $735K in zip code 33498. Mission Bay and Island Lakes were covered in a previous article.

18636 Cape Sable Drive in Lakes at Boca Raton sold for $470K.

Saturnia
Saturnia generally has the highest prices west of US-441. This report is no exception with two of the top three prices in Saturnia. Mainly this is due to the homes being large.
19354 Skyridge Circle sold for $735,000. The house has just over 4000 square feet with 5 bedrooms, 4 bathrooms and a variety of nice features including a screened in pool with a lake view and a large second floor patio inside the screen.
Nearby 19245 Skyridge Circle sold for $670,000 with 5 bedrooms and 3 bathrooms in 3300 square feet. It has extensive remodeling including the kitchen, master bath and marble tile.
Boca Isles
Boca Isles is a large development between Yamato and Glades on the west side of Cain. It includes two sections, North (closer to Yamato) and South (closer to Glades).
20070 Ocean Key Drive in Boca Isles South sold for $705,000, a pretty high price for that community. The house has 5 bedrooms and 3 baths in just under 3200 square feet, with extensive remodeling.
19078 Cloister Lake Lane in Boca Isles North sold for $605K with 4 bedrooms and 3 bathrooms in 2700 square feet on one floor. Again this home had substantial remodeling and also has a screened in pool.
Back to Boca Isles South, 10933 Bal Harbor Drive sold for $569K with the same “Palm Beacher” 5 bed, 3 bath model as the one on Ocean Key Drive. The kitchen was nicely remodeled. Bathrooms and some floors could use an update and there’s no lake view but overall this buyer got quite a bargain by comparison.
Still in South, 19753 Dinner Key Drive sold for $545K with 4 beds and 3 baths in 2900 square feet on two floors. The house has some upgrades but some curious design choices may have reduced buyer interest.
In Boca Isles North again, the smallest model at 19496 Preserve Drive sold for $495K. It has 3 bedrooms and 2 baths in 2100 square feet. A new roof and various upgrades likely increased the value.
The slightly larger at 10864 Tea Olive Lane sold for $479K with 4 bedrooms and 2300 square feet. Again a new roof helped the price.
The lowest price in Boca Isles goes to 20113 N Key Drive (Boca Isles South) at $455K with 4 bedrooms and 3 baths in 2800 square feet. The price was lower than usual because it’s a bank-owned property after a foreclosure last year.
The Shores at Boca Raton
Unusually large for The Shores, 11307 Sea Grass Circle sold for $665K with 7 bedrooms and 4 1/2 baths in just over 4000 square feet on two floors. It’s a relatively high price for the neighborhood but a good deal for the buyer on a dollars per square foot basis and the house has some nice features as well.
We see more typical pricing with 18524 Ocean Mist Drive selling for $534K with 5 bedrooms and 3 1/2 baths in 3400 square feet. The price still works out cheap in dollars per square foot.
Boca Greens
Boca Greens is a gated golf course community but membership is not mandatory. Most homes are on one floor.
10353 Milburn Lane sold for $549,000. It has 4 bedrooms and 3 bathrooms in 2700 square feet. This is after substantial renovation including new roof, new air conditioning, kitchen, floors and more.
The larger 10367 Camelback Lane sold for $480K with 4 bedrooms and 2 1/2 baths in 2900 square feet. The substantial backyard is probably a magnet for sliced tee shots.
10556 Fenway Place went for the lowest price in Boca Greens this report at $350,000. The 2 bedroom, 2 bath home has 2100 square feet and sat on the market for over five months, due to a high original listing price ($435K).

Other Communities:
18636 Cape Sable Drive (image at top of this article) in Lakes at Boca Raton sold for $470,000. The house has 4 bedrooms and 3 1/2 baths in 2800 square feet on two floors.
18171 181st Circle S; image by Google

18171 181st Circle S in Boca Chase sold for $383K with 4 beds and 2 baths in 2100 square feet. It took over six months to sell.
Stonebridge homes usually sell low due to the mandatory club membership. 17887 Stonebridge Court did better than usual at $330K with 4 bedrooms and 3 baths in 3100 square feet.

Boca Isles South: $420K to $659K for Early 2017


Over 10 home sales have closed in Boca Isles South since the start of the year. Prices range from $659K at the high end for a 3300 square foot 5 bedroom, down to $420K for a 3 bedroom with 2000 square feet.
Four homes with over 3200 square feet are on the list, all four of them in less than a month.
20148 Ocean Key Drive sold for $659K. The house has 5 bedrooms and 4 baths in 3300 square feet, with a variety of new upgrades and features including a pool, though it has no waterfront.
Nearby 20016 Ocean Key Drive sold for $625K with 5 beds, 3 baths in 3200 square feet, with waterfront, a pool and a recent remodel.
Also at $625K, 19717 Brickel Point Drive has roughly the same size and features, again including a recent remodel.
The same model sold for nearly $100K less – $527K – at 20029 Palm Island Drive. It also has waterfront with southern exposure for the pool. We don’t know why it sold for so little but the listing included not a single photo of the interior, so we have a hunch it needed a lot of work inside.

Boca Isles South has a nice community pool area and clubhouse. Photo copyright Warren Redlich 2017.

The remaining homes were all smaller than 3000 square feet. The 2900 square foot home at 10588 Saint Thomas Drive still sold for nearly $510K with 4 beds, 3 baths and a pool but no waterfront. There are a lot of interior upgrades so it looks like this buyer got a relative bargain.
20106 Ocean Key Drive sold for $482,500 with 5 bedrooms and 3 baths in 2800 square feet on one floor. This one sat on the market for nearly a year before selling. The interior did seem dated but this one looks like another case where the buyer got a deal.
Also selling for $482.5K was 19748 Dinner Key Drive, the same model as the $510K home mentioned above, but with no pool. The home was listed by a Realtor from another county and the listing photos were poorly done.
Amenities at Boca Isles South include two tennis courts, half basketball court, playground and more. Photo copyright Warren Redlich 2017.

A couple of large homes went even cheaper. 10861 Bal Harbor Drive sold for $458K with 4 bedrooms and 3 baths in 2750 square feet on one floor. It’s on a good lot with a lake view in the backyard. The interior was clean but out of date.
Possibly an even better bargain was found at 10581 Saint Thomas Drive, which sold for just $455K with 4 bedrooms, 3 baths and over 2900 square feet (same model as a couple others above). The house has waterfront and a recent kitchen renovation.

The smaller models in Boca Isles ranged from $465K at the high end down to $420K for the smallest model.
19634 Biscayne Bay Drive sold for $465K with 4 bedrooms and 2 baths in 2300 square feet with a pretty good lake view from the backyard pool area. The house was in good shape but the kitchen appliances looked dated. We heard that the new owner redid some floors.
The same model sold significantly cheaper at 19555 Dinner Key Drive at $443K a month later. This was a bank-owned home and they often sell for less.
Going still smaller, 10576 Saint Thomas Drive sold for $450K with 3 bedrooms and 2 baths in 2100 square feet. The house has substantial upgrades inside, though it has no pool and no waterfront.
The smallest and cheapest in this report, 19537 Dinner Key Drive sold for $420K with 3 bedrooms and 3 baths in 2000 square feet and significant upgrades. It’s an odd layout with the pool on the side facing the house next door, and a lake view out the back windows of the house.