Home prices rose in Mission Bay last year, including houses, townhouses. The average for single family homes broke through the $400,000 level rising to $412K from $390K in 2015. Measured in dollars per square foot the increase was nearly 9% over the previous year.
The increase was more dramatic for townhouses (including villas) with the average rising to $271K, up 15% from $235K in 2015, though it was only 8% up when measured in dollars per square foot.
As we are seeing with a lot of other neighborhoods, the low end is rising. In 2015 there were six single family transactions at $300K or less. In 2016 there were only two. There was movement on the high end as well but the difference was not as dramatic.
Single family home transaction prices ranged from $255K to $565K. The $255K house was an anomaly, with the next transaction at $295K. The four highest prices were all in the gated Isle of Mission Bay subdivision and the top 9 were all on the north side of Glades Road.
Townhouse and villa prices went from a low of $232K (2 units) up to a high of $307K. Unlike 2014 and 2015, two units sold for over $300K and no units sold for less than $200K.
Mission Bay homes are zoned for Sandpiper Shores Elementary, Loggers’ Run Middle, and West Boca High School. The sections north of Glades Road are in zip code 33498, while the southern part is in 33428.
There were no REO or short sale transactions in 2016. We excluded those in previous years from our analysis. We looked at condo transactions but there were only a few in the past 3 years and none in 2016, so we left those out as well.
Mission Bay was one of the few communities to respond to our inquiry about updates and improvements:
The Mission Bay Community has undergone a major transformation throughout its property during the course of 2016. The Board of Governors, staff and volunteers took on this monumental project that began at the clubhouse and continued with most of the major structures within the community. Looking to upgrade their beautiful facilities, they consulted with a designer who helped them create a vision.
The Board wanted to create a dramatic effect as you enter the covered walkway to the Clubhouse and accentuate the columns with ledgestone. This added depth and color leading to the pool area.
The Club patio was completely redone and redesigned with wood and pavers. New outdoor furniture that include, 2 gas grilled fire pits were purchased in order to give the residents a more enjoyable place to take advantage of the great views of the lake by a fire. The pool patio was enlarged to offer additional seating for its residents. The lounge chairs by the pool were re-strapped to blend with their new color scheme and more umbrellas were added to give the residents more options around the resort style pool.
The once screen enclosed game room was revamped and now features an open air bar with flat screen TVs on every wall. The bar was created with a vision to offer residents 21 and older a place to meet and have a few beverages while enjoying the pool and patio.
The Mission Bay board began offering Friday evening “Happy Hours” for those 21 and older. In addition Mission Bay offers both family friendly and adult parties throughout the year. They have even implemented “Football Sundays” for residents to enjoy a “sports bar” environment during NFL season! These parties have become very popular events and attendance is usually very high. All of these Country Club amenities are offered to residents without charging country club prices.
All Mission Bay monuments have been updated and refurbished. The stonework and color scheme were carried out throughout the whole community including all Directional signs. Their main monuments located on SR7 and Glades Rd. are an important structure of West Boca. Both Mission Bay residents as well as all persons living in neighboring communities enjoy the view of the beautiful building standing on the North side hill. For this reason, it was important to the Board to upgrade and accentuate this structure for the Community. New reverse channel lettering was installed, stone was added to the pillars and the building, and iron gates were placed in the archways. All this in order to highlight the architecture and the pillars. Landscaping was also added to enhance the area.
Another major change Mission Bay residents saw this year was in a new Cable Television service. Residents now enjoy both cable and high speed internet service paid through their Mission Bay HOA dues. This now allows everyone to access free internet while at the playground, tennis courts, basketball courts, gym and pool area.
In order to keep the community safe at all times, Mission Bay hired a security company to patrol all ten villages and common areas 24 Hrs. a day, seven days a week. This added security ensures that families continue to live in safe place.
Beginning in January, the workout facilities will be remodeled and the gym equipment completely replaced with the latest machines available in the market. Once the renovations are complete, the aerobics classes will include new spin classes as well as the current body sculpting, Zumba, Boot Camp and Yoga classes that have always been offered.