Bridges Homes Average $1.04M; Seven Bridges $1.38M

For the first half of 2018, home sales that closed in The Bridges averaged 1.04 million at $268 per square foot. Most homes sold between $800,000 and $1.5 million but there was one that sold for $2.3 million and a seven homes sold under $800K, mostly smaller models around 2600 square feet. Twenty seven homes sold, ten of them for more than $1 million.

Seven Bridges homes averaged higher at nearly $1.4 million with most going between $900,000 and $2 million. Three homes sold just under $900K, with only one of them smaller than 3200 square feet. The average was just over $300 per square foot. Seventeen homes sold in total with twelve of them over $1 million.

The Bridges transactions are all or nearly all resales of existing homes. They sell, on average, in close to four months. Many of the Seven Bridges transactions are new homes and they’re taking over five months to sell. On both sides of Lyons Road they’re actually taking longer to sell because the numbers don’t include failed listings. Sixty listings expired or canceled in the first half of the year, more than the 44 that closed.

For example 9610 Labelle Court in Seven Bridges was purchased from the builder in early 2016 for $2 million. After the buyer did substantial upgrades it was listed by a Miami-based brokerage in 2016 for $2.9 million. That listing canceled after four months, and then another Miami broker listed it for $2.3 million. It’s a 6-bedroom house with 7500 square feet, 7 full bathrooms, 2 half baths, and loaded with features and high end finishes. In the middle of 2017 the seller switched to a Palm Beach County realtor. The house finally closed in early June for $2.05 million. The statistics show it was on the market for 10 months but it was really 22 months.

The biggest transaction of the year so far was in Seven Bridges where 16525 Fleur De Lis Way sold for $3.2 million. It’s a six bedroom house with six full bathrooms and another two half baths, all in just over eight thousand square feet. The house was bought new from the builder in 2016 for $2.9 million. The new owners are a successful business couple. The wife is a casino executive and is now president of the Atlantis resort in the Bahamas.

The second biggest deal was in The Bridges, 16876 Crown Bridge Drive, at $2.3 million for a six bedroom in 7500 square feet. The average sale in the Bridges was 3900 square feet, while the average in Seven Bridges was 4600 square feet.

While the vast majority of the homes are selling for well over $200/sq.ft. and some over $300/sq.ft., there are still some “bargains” in The Bridges. Just under $190 per square foot were 8658 Lewis River Road ($960,000 for a 5200 square foot 5-bedroom) and 16658 Gateway Bridge Drive ($796K for a 6-bedroom with 4300 square feet).

$800K+ Home Sales: The Bridges, Seven Bridges, The Oaks and More

Seventeen single family homes sold west of the Turnpike for over $800K since August 1st. Six were in The Bridges, four in Seven Bridges, three in The Oaks, with one each in Long Lake Estates, Rio Poco, Saturnia Isles, and Mizner Country Club.
The Bridges
The biggest transaction was 16781 Crown Bridge Drive in The Bridges, which was sold new by GL Homes for just over $2 million in mid-August. It is by far the largest house in this report with over 7500 square feet, 6 bedrooms, 6 full and 2 half baths, a cul de sac location with waterfront, a pool, and a variety of high end features including an elevator. The price works out to $273 per square foot.
On the same street, the much smaller 16834 Crown Bridge Drive sold for $1.6 million with 4600 square feet, 4 bedrooms and 5 and a half baths. For the size this was a much higher price at $345/sq.ft. It took over a year to sell.

16910 Charles River Drive sold for $1,598,000 at the end of August; image from PBC appraiser.

16910 Charles River Drive sold for just under $1.6 million with only 3350 square feet. The price works out to $476 per square foot. The seller touted over a million dollars in upgrades including air conditioned garages, a generator for the house, salt pool with infinity spa, etc. With all that in mind we’d guess the seller lost money on the house after upgrades.
Stepping down a bit, 8365 Hawks Gully Avenue sold in a couple weeks for just over $1 million with the same 3350 square feet, 3 bedrooms and 3 and a half baths. Its pool design was featured in a YouTube video:

Dropping below $1M, 8701 Lewis River Road sold for $983K with 5200 square feet (under $200/sq.ft.), and 8187 Lawson Bridge Lane sold for $885K with 4300 square feet.

Seven Bridges
9735 Vitrail Lane sold new by GL for just over $1.1 million with 4200 square feet, 4 bedrooms and 4 and a half baths.
Next door the much larger 9831 Vitrail Lane was also sold new by GL for just under $1.1 million with 5200 square feet, 5 bedrooms and 6 and a half baths.
16436 Pantheon Pass sold for $1.03 million in August, only 4 months after a previous transaction for $940K. The contract was signed only 2 months after the earlier transaction, making us wonder if the new buyer’s agent informed the buyer about that earlier price.
16903 Pavilion Way sold new by GL for $964K with 3000 square feet, 3 bedrooms and 3 and a half baths. The price works out to roughly $320 per square foot, even though there’s no waterfront.
The Oaks
We don’t see many single story homes in The Oaks, but two of them are in this report.
9074 Pintura Way sold for just over $1.2 million with over 3400 square feet, 4 bedrooms, and 3 and half baths. The rear of the house faces south with a lake view. It’s encouraging to see this sold for $200K more than when it was purchased new in 2014.
17654 Cadena Drive sold by the builder (Standard Pacific) for $900K with 3500 square feet, 3 bedrooms and 3 1/2 baths.
The two-story 17842 Lake Azure Way sold for $855K with 4500 square feet. We think this was a Chinese drywall home that was completely redone as it was originally sold for just over $1M in 2006 by Albanese, and then bought in 2016 for only $315K.
Others
In Long Lake Estates, 18094 Sentinel Circle sold for $1.5 million with 5300 square feet, 6 bedrooms and 6 and two half baths. The one floor home has over an acre of land and over 250 feet of waterfront.
16215 Rio Baile in Rio Poco sold for $975K with nearly 4800 square feet, 6 bedrooms and 5 baths.
Across 441 in Saturnia Isles, 9512 Savona Winds Drive sold for $855K with 4800 square feet, 5 bedrooms and 4 1/2 baths.
And just north of The Bridges in Mizner Country Club, 8911 Oakland Hills Drive sold for $850K with 4500 square feet, 5 bedrooms and 5 1/2 baths.

May Home Sales I: $800K to $6.4M

16031 Quiet Vista Circle in Stone Creek Ranch sold for $6.4M. Image and map data by Google.

We reviewed over 80 single family home sales (west of the Turnpike up to Atlantic in Delray) from May 1 into early June, restricted to homes with 3 or more bedrooms and at least 2000 square feet of living space. This is Part One of that review, covering homes selling over $800,000. All these homes were in zip codes 33498, 33496, and 33446, mostly in The Bridges, Seven Bridges, and The Oaks.
Click here for Part Two.
At the high end was 16031 Quiet Vista Circle in Stone Creek Ranch, on the west side of Lyons just north of Seven Bridges. The nearly 14,000 square foot house with 10 bedrooms and 10 1/2 baths sold for $6.4 million. The seller was billionaire Steven A. Cohen. The buyers are Cynthia Williams and her husband Ronald “Ron” Williams, former CEO of Aetna, with an estimated net worth close to $200M.
8700 Surrey Lane sold for $2.8M; image and map data by Google

There was one other transaction for over $2M. 8700 Surrey Lane in Horseshoe Acres (north of Clint Moore, east of Lyons) sold for just over $2.8M with only 5 bedrooms and 5 1/2 baths in 6000 square feet.
Nine other homes sold for $1M or more, in The Bridges, Seven Bridges, The Oaks, and Long Lake Estates. Most of these sold for between $215 and $250 per square foot, with two in The Bridges going for closer to $300 per square foot.
The smallest of these was 8510 Hawks Gully Avenue, with 3 bedrooms and 3 1/2 baths in 3350 square feet. It sold for $1.1M ($328/sq.ft.) in just 17 days on the market. The house is on a corner lot with no waterfront and has significant upgrades including a gorgeous pool, but it still seems like a hefty price for what the buyer got. The house was previously purchased for less than $1M in 2015.
The best bargain of the million dollar homes was probably 8646 Lewis River Road, a 5200 sq.ft. 5 bedroom with a partial lake view which sold for just over $1.1M, or $216/sq.ft.
Others sold include:

  • $1.43M: 18529 Long Lake Drive, Long Lake Estates, 6 bedrooms, 4 1/2 baths, 5800 sq.ft.
  • $1.35M: 16844 Strasbourg Lane, Seven Bridges, 5 bedrooms, 6 full and two 1/2 baths, 5500 sq.ft.
  • $1.2M: 17681 Middlebrook Way, The Oaks, 5 bedrooms, 5 1/2 baths, 5500 sq.ft.
  • $1.14M: 16615 Sagamore Bridge Way, The Bridges, 4 beds, 5 baths, 3900 sq.ft.
  • $1.08M: 17745 Vecino Way, The Oaks, 5 beds, 4 baths, 4450 sq.ft.
  • $1.07M: 8518 Hawks Gully Ave, The Bridges, 4 beds, 4 1/2 baths, 4300 sq.ft.
  • $1.02M: 9488 Eden Roc Ct, Seven Bridges, 5 beds, 6 baths, 4700 sq.ft. (new home)

$800K – $1M
Six homes sold for prices between $800,000 and $1,000,000, including three in The Oaks, one in Mizner Country Club, one in Saturnia, and one in Rio Poco.

16135 Rio Baile sold for $995,000. Image by Google.

16135 Rio Baile in Rio Poco (west side of 441 across from Saturnia Isles) sold for $995K. The house has 6 bedrooms and 5 1/2 baths in 4200 square feet on a one-acre lot.
What would seem to be one of the biggest bargains was 17891 Monte Vista Drive in The Oaks. Selling for $880K, the house has 7 bedrooms, 6 full and 2 half baths in 5500 square feet. Those familiar with The Oaks will guess correctly that the house has a Chinese drywall history. Purchased in 2007 for $1.3M, it was foreclosed in 2013 and then sold to an investor for $751K. Considering the cost of capital and other expenses, the investor probably lost money on this deal.
Others selling at $800K or more include:
$860K: 17978 Lake Azure Way, The Oaks, 4 beds, 5 1/2 baths, 4300 sq.ft.
$832K: 17689 Lake Azure Way, The Oaks, 3 beds, 3 full and 2 1/2 baths, 3400 sq.ft.
$800K: 16367 Braeburn Ridge Trail, Mizner Country Club, 4 beds, 3 1/2 baths, 3550 sq.ft.
$800K: 11742 Watercrest Lane, Saturnia, 6 beds, 4 1/2 baths, 4700 sq.ft.
It’s an interesting question comparing older and newer homes and that’s illustrated by two of the above transactions. In Saturnia, 11742 Watercrest Lane was built in 1999 and seems a relative bargain at $800K for a two-story home with 4700 square feet. While it could use updating in a few places the house has some very nice features including a gorgeous kitchen, a downstairs master bedroom suite and a swimming pool. By comparison in Seven Bridges, 9488 Eden Roc Court sold brand new for just over $1.02M, also with 4700 square feet. The Seven Bridges buyer paid an extra $224,000 for a house that is narrower on a smaller lot with no pool, and the master bedroom is on the second floor. Seven Bridges also has substantially higher HOA fees at close to $500/month vs. $320/month in Saturnia.
11742 Watercrest Lane in Saturnia at $800K vs. 9488 Eden Roc Ct in 7 Bridges at $1.02M. Images by Google.

Which house do you think is a better deal?
Coming in Part Two – Homes from $185K to $750K.

High-End Homes in Stone Creek Ranch

Our real estate readers may remember our article on a special house in Boca West. For those looking in that high end of the market, there are some more opportunities nearby. Stone Creek Ranch is on the west side of Lyons Road north of Clint Moore, close to the Bridges, 7 Bridges, and Mizner Country Club developments.

There are a few lots remaining and at least one house on the market. The site plan map below gives a sense of what’s available.
scr-siteplan-size
The lots sell in the $1 million ball park. In addition, there’s a huge existing house that just came on the market at 16201 Quiet Vista Circle (lot 30).
front-a
The property appraiser has the house at nearly 14,000 square feet and shows the original 2005 sale price as $4.5 million. We have several pictures of the property. Not pictured is the full-size outdoor basketball court with a special floor that allows water to run off so it dries quickly after rain.
The previous owner was a Florida State fan and some of the decorating reflects Seminole colors, so Gator and Canes fans should budget for painting.
One of the most impressive spots is the backyard, which has a gorgeous view.
backyard-view-a
The house looks great from back there too, a wonderful space for outdoor entertaining:
backyard-2a
There’s lots of space inside for entertaining as well:
room-to-entertain
And of course as you’d expect at this level, it has a wonderful kitchen:
kitchen-992
There’s an office with a spiral staircase to a second floor with a balcony looking to the back:
office-a
The master suite has his and hers bathrooms and hers is pleasant:
her-bath
And our last photo is an architectural feature that really impressed me when I saw it in person. There’s a hallway that runs parallel to the front of the house.
hallway
Stone Creek Ranch has enhanced security with its gate and a roving patrol as well. It seems completely unnecessary due to its low-crime location but it brings additional peace of mind to the residents.
The location is very convenient to Delray Marketplace and also to everything on Clint Moore and Yamato.