What’s Hot in West Boca Real Estate? First Quarter 2018
If you’re thinking of selling your home, now is the time for certain neighborhoods in West Boca. Inventory is sparse in Boca Winds, Palmetto Pines, Boca Springs, Tudor Woods and Lexington Estates. With few homes on the market, there’s less competition among sellers and so it’s a good time to speak to some property valuers and then list your home.
If you’re in a more competitive neighborhood and you need to sell, it won’t be easy and you will need to price aggressively. The toughest communities for sellers right now are high end ones like Long Lake Estates and The Oaks, golf course communities including Stonebridge and Boca Woods, and also Avalon and Saturnia Isles.
Boca Winds
As of the beginning of April there are only 10 homes listed in Boca Winds. That’s less than 1% of all homes in the development.
The market was good for sellers in the first quarter. Ten homes sold with only one home going for less than $300,000. That sold in 3 days after it was listed well below its value. A similar house on the same street sold for $350,000 in only 12 days.
Six of the ten homes sold for over $400,000. 22257 Vista Lago Drive was the highest, selling for $680,000 with 6 bedrooms in 3500 square feet in great condition and with a spectacular lake view.
Boca Falls
Boca Falls is a little more competitive with 18 homes listed or about 2.5% of the homes in the development. That’s up from 16 homes only a few days ago.
8 homes sold in the first quarter with prices from $505,000 up to $735,000. No sales have been completed since February 15th.
Loggers’ Run
There are 13 single family homes listed in Loggers’ Run right now, all of them north of Palmetto Park Road. Certain sections have few or no listings and might be less competitive, including Island Lakes, Ponderosa, Tamarron and the Winding Lakes subdivisions.
In the first quarter 18 homes sold. A few in Crystal Cove and Winding Lakes III sold for over $600,000. The others ranged from a lowball $295,000 for a small house in Country Landing I up to $455K for a 2000 sq.ft. home in Country Landing IV. Three other sales were over $400,000 and the rest were from $330K to $390K.
Three townhomes sold in Timberwalk, all for close to $260,000. There is only one townhome listed right now, so again a good time to put your home on the market if you’re thinking of selling.
Mission Bay
Mission Bay is a little more competitive for sellers with 22 single family homes listed and 4 townhomes. Five townhomes sold in the first quarter, all for between $274K and $300K.
10 single family homes sold mostly priced from $375K to $495K. There was one sold low at $321,000 in Laguna. You know it’s trouble with the first 17 photos are of the HOA amenities.
Also one larger home in The Isle sold for $630,000.
Boca Isles
Boca Isles has 18 homes on the market, three of them added yesterday. That’s a reasonable 2% of the two developments. 11 homes sold in the first quarter, 8 of them in Boca Isles South and 3 in Boca Isles North. Two sold for under $400K including one bank-owned and one poorly marketed. Most of the sales were over $500,000 with two larger homes (5 bedrooms, 3200 square feet) selling for over $600,000. Also of note, most homes sold in less than two months.
While there is competition in Boca Isles, it’s still a good time to list because the homes are selling.
Palmetto Pines, Boca Springs and Tudor Woods
Another potentially hot area for sellers is Palmetto Pines and Boca Springs, with only 8 homes listed right now. Inventory is very thin and there were only 3 homes sold in the first quarter of the year. Prices are up a bit. Two small houses in Palmetto Pines (aka Holiday City) both sold for over $300,000 ($301K and $340K) and one somewhat larger REO (bank-owned) house in Boca Springs sold for $319,000. REO homes generally sell much lower than market price.
Most homes in these two neighborhoods will not get more than $400,000, but two in Boca Springs did sell for above that number in 2017. In Palmetto Pines the highest price we’ve seen recently is $355,000. If you price too high your house won’t sell quickly.
Tudor Woods has only one home listed. Five fairly small “patio homes” sold in the first quarter from $235K up to $250K.
Lexington Estates and Allegro
Lexington Estates may be a prime selling area this spring. Four homes in the neighborhood sold in the first quarter, three of them at prices around $470K with one REO at $382,000. Only two homes are listed, both priced high at over $500K. If you list at $499K you should get a buyer within 3 months.
Allegro is just south of Lexington Estates with smaller houses. Three of them sold in the first quarter priced closely between $320K and $340K. All sold in less than two months. There are two homes on the market now. One is very small and listed at $319,500 while the other is average size for the neighborhood at 2000 square feet listed for $394,000. Both seem overpriced, so a reasonably priced listing should sell quickly.
This leads to another tip. If you’re going to list your house higher than market value, you should use quality photos in the listing.
The Shores and Saturnia
The Shores and Saturnia are both a bit more saturated with roughly 3% of the homes listed in each.
In The Shores, 11 homes are listed. There were 6 sales in the first quarter with prices from $402,000 to $550,000.
Saturnia has 12 homes listed. There were 7 sales since the start of 2018 (update – data now shows 8). Price pressures have had an effect as nothing is selling for more than $700,000. While this is bad for sellers, buyers are getting some amazing bargains. If you’re a looking for a great deal on a large home in excellent condition, Saturnia is the place to look.
Lakes at Boca Raton
6 homes on the market in Lakes right now. That’s not many. Good time to go on the market if you’re thinking of selling.
7 sales in the first quarter, prices from just over $300K up to $455K. Most of those sold in under 2 months. But one house took 7 months.
Palma Vista and Avalon
Avalon (aka Parkview) is tough for sellers right now with 5 homes listed in a small neighborhood. There was only one sale in the first quarter at $585,000.
Palma Vista is a little better but still challenging with 3 homes listed. 2 homes sold in the first quarter, one for $560,000 with 3100 square feet and a larger 3700 square footer selling for $655,000.
Timbers of Boca, Pine Springs and Escondido
Timbers of Boca has no homes listed. Pine Springs has one, and Escondido has one as well.
Timbers saw one home sold in the first quarter, 1800 square feet for $385,000. Two sold in Pine Springs with prices just above $300K. A 2000 square foot home in Escondido sold for $345,000.
Boca Lago
58 homes are listed in Boca Lago. There were 31 sales in the first quarter. 16 of the transactions were under $200,000, while four were over $300K.
Meadow Lakes
Meadow Lakes could be a sellers’ opportunity now with only two homes listed, both near $350,000. Nothing sold in the first quarter and three somewhat larger homes sold in 2017, priced between $359K and $393K.
Boca Reserve
Boca Reserve, a fairly new community just west of Loggers’ Run, is saturated right now with 4 listings out of only 44 homes. No homes sold in the first quarter and only 2 homes sold in 2017.
Boca Chase
There are 7 regular single family homes listed in Boca Chase right now, along with 2 more houses and 12 townhomes and villas in the 55+ sections.
12 single family homes sold in the first quarter (2 of them 55+). 7 townhomes also sold. For non-55+ single family homes, most sold for $360K up to $460K. There was one significantly smaller house that sold for $318K.
American Homes, Southwinds, Lake Ridge, Whisper Walk and Boca Fontana
We see 25 single family homes on the market in the area from Lake Ridge to Kimberly. There are 13 townhomes for sale in Whisper Walk, and none currently listed in Boca Fontana.
Two townhomes sold in Boca Fontana in the first quarter for $275K and $300K. Sold prices were $200K and less in Whisper Walk.
27 single family homes sold since the start of the year. The highest prices were in Boca Landings North with three homes selling for over $450,000. A few others sold for $410,000. Everything else was under $400K, with only two houses under $250K.
Saturnia Isles, Rio Poco, Tierra Del Rey and Bridges/7 Bridges
Up 441 in southwest Delray, there are 19 homes listed in Saturnia Isles right now, or about 5.5% of the homes in the development. Six homes sold in the first quarter, most over $600,000 and two of them going for just over $700,000.
There are 5 homes listed in Rio Poco and another 11 in Tierra Del Rey. Three homes sold in Rio Poco in the first quarter with prices from $825K up to $1.6 million. There were no sales in Tierra Del Rey, another expensive community where sellers are struggling.
In The Bridges and 7 Bridges there are 56 homes listed for sale right now. That’s roughly 5% of the homes in both developments. 18 homes sold there in the first quarter, including a 8000 square foot beauty for $3.2 million in 7 Bridges. 6 more sold for over $1M while 11 went for under $1M, 4 of them under $800K and one bargain at $665K in a corporate relocation.
The Oaks and Long Lake Estates
Sellers are having a tough time in these two high end neighborhoods. 13% of the homes are listed in Long Lake Estates (17 homes) and 10% (44 homes) are listed in The Oaks.
The Oaks has had 7 sales since the start of the year with a nearly 10,000 square foot mansion going for just over $2M, 3 more selling over $1M, and one 4700 square foot bank-owned home selling for only $500,000, probably due to a history of Chinese drywall.
Long Lake Estates had two sales in the first quarter, a 4700 square foot 4 bedrooom for $1.1M and a 5400 square foot 5 bedroom for $1.2M.
Boca Woods, Stonebridge and Mizner Country Club
There are 40 homes listed in Boca Woods, or about 6% of the homes, and there were 10 sales in the first quarter. Five sold for under $100K while two managed to sell for just over $300K. There were three other sales between $235K and $285K.
For Stonebridge we see 36 listings or about 10% of the homes. There were only 6 sales in the first 3 months of the year. Prices were quite varied with one selling for only $95K, another selling for nearly $500K, and the remaining four selling between $225K and $370K.
Prices are holding up better in Mizner Country Club (Lyons north of The Bridges) but there are 57 homes listed (12% of the homes) and only 4 homes sold in the first quarter. Two large houses sold for $1.1M and $1.25M, while two somewhat smaller 4500 square foot homes sold for $950K and $450K (bank owned).