Boca Isles Real Estate Trends

Boca Isles

In our continuing series on real estate trends, we looked at transactions in the Boca Isles neighborhood. Boca Isles consists of two gated communities, Boca Isles North and Boca Isles South. Both sit on the west side of Cain Blvd between Yamato and Glades.
The two are very similar so we considered them together. They account for a large portion of the sales volume in zip code 33498.
Unlike the minimal changes we saw in our Boca Falls analysis, there is a clear positive trend in Boca Isles. For the first half of 2015 (January through June) the average transaction price was $515K, about 3% higher than the previous six months ($501K) and 8% higher than the first half of 2014 ($476K). In dollars per square foot the year-on-year increase was just below 8%, rising from $175/sq.ft. in the first half of 2014 to $182/sq.ft. in the second half and up to $189/sq.ft. in the first half of this year.

Houses are also moving more quickly, with the average sale taking place in just over two months (64 days) compared to nearly three months (86 days) in the year-earlier period.
One other notable detail came out of our review of the last 6 months. Discount brokers are saving sellers about 1% of the brokerage fee, which works out to $5000 on a $500K sale. But the transaction prices, in both total amount and $/sq.ft. are about 4% lower. From this limited data sellers with full fee brokers net an extra $15,000. Discount broker listings also took a month longer to sell.
Our spreadsheets for this analysis are below:
Boca Isles Transactions: January to June 2015:
[gview file=”https://westbocanews.com/wp-content/uploads/2015/07/boca-isles-1H-2015.xls”]
July to December 2014:
[gview file=”https://westbocanews.com/wp-content/uploads/2015/07/Boca-Isles-2H-2014.xls”]
January to June 2014:
[gview file=”https://westbocanews.com/wp-content/uploads/2015/07/BocaIsles-1H-2014.xls”]
Discount vs. Full Fee Brokers
[gview file=”https://westbocanews.com/wp-content/uploads/2015/07/isles-discount-broker-compare.xls”]