196 Sales in Century Village for First Half of 2018
Homes are selling well in Century Village this year, with nearly 200 transactions from January 1st through today. Prices are up a little compared to what we saw there in 2017.
While they are getting good prices they aren’t selling that fast. The average unit sold in two months, which is slow for this price level. That is probably due to high inventory, with 163 homes currently listed.
4 Story Buildings
The 4-story buildings in the center of the complex are doing particularly well, with the average price topping $100,000. For those 93 homes the average price was $104,000 on an average size of just over 910 square feet. Three units sold for over $200,000 including 2075 Yarmouth D at $275,000 for 2 bedrooms and 2 baths in nearly 1600 square feet. It’s a startling price because the unit doesn’t even appear to have been recently remodeled, but it is the largest unit we’ve seen.
In the same building 4066 Yarmouth D sold for $260,000 with just under 1400 square feet, again a larger than typical unit without much remodeling.
The biggest price per square foot goes to 4037 Ainslie C which sold for $230,000 with only 1032 square feet with nicely remodeled kitchen and bathrooms.
Buildings in Ainslie and Yarmouth are close to the synagogues allowing religious Jewish residents to walk more easily on the Sabbath. This drives up prices similar to what the new Chabad is doing in Boca Greens.
A total of 39 units in the 4-story buildings sold for prices of $100K or higher. There are still bargains to be had, with more units selling for less than $100K including thirteen that sold for $60K or less. Four of those were bank-owned.
3 Story Buildings
In the 3-story buildings the average transaction was $56,000 for 760 square feet. Three of the units sold for over $100,000 with 452 Fanshaw K snatching the biggest number at $110,000, which was remodeled with high-end finishes in the kitchen and baths. Everything that sold for over $65,000 were 2 bedroom 1 1/2 bath units with 835 square feet.
243 Dorset F sold for $105,000 and followed a trend we’ve noticed in remodeling these units, opening up the space by removing some or all of the wall between the kitchen and family room.
20 units sold for $40,000 or less, two of them bank-owned. All units that sold for $45,000 or less were 1 bedroom models ranging from 600 to 715 square feet.
Rentals
As expected the rental market remains active with 51 units currently listed for rent on the MLS. 115 rentals closed since the beginning of the year, not surprisingly lower than the 151 in the fall. We believe many units are also rented outside the MLS system.