The 3800 square foot 5-bedroom ranch at 21375 Falls Ridge Way (pictured above) fetched the highest price by far at $735,000.
34 homes sold in Boca Falls in 2018, with prices ranging from a high of $735,000 to a low of $422,500. There were also 33 listings that expired or canceled, making it about a 50% change that a listing will sell.
The average transaction was a 3000 square foot home selling for $560,000. Last year’s average was $586,000 for a 3200 square foot house. In dollar per square feet prices are up about 2%. Homes are taking a little longer to sell with the average at 77 days.
The four most expensive homes were single floor models in the two premium subdivisions. The top two were in The Estates. The 3800 square foot 5-bedroom ranch at 21375 Falls Ridge Way (pictured at top) fetched the highest price by far at $735,000. Next was the same model at 21224 Rock Ridge going for $660,000.
The next two highest were in Crystal Pointe at $650,000 each.
Four other homes, mostly with two floors, sold for over $600,000:
- 12709 Torbay, 5 bed, 3 1/2 bath, 3300 sq.ft. in Majestic Bay for $635,000
- 12437 Antille in Cascades, 5 bed, 3 bath, 3250 sq.ft. for $622,000
- 21231 Falls Ridge in The Estates, 5 bed, 3 1/2 bath, 3200 sq.ft., $615,000
- 12895 Hyland Circle in Emerald Isles, 5 bed, 3 1/2 bath, 3350 sq.ft., $604K
Ten more homes sold from $570K to $586K with four of them in Crystal Pointe. The highest price paid per square foot was $229/sq.ft. at $570,000 for the 2500 square foot 5-bedroom at 12235 Rockledge Circle in Mystic Cove.
The biggest bargain was 21337 Rock Ridge Drive, the same model in The Estates as the two highest prices, selling for only $549,000. That works out to $144 per square foot. After the initial listing, the MLS history shows the price was lowered four times over a few weeks and marketed as “priced to sell quickly.”
A few subdivisions were quiet. Victoria Falls had only one deal – 12379 Cascades Pointe Drive sold for $492,500 with four bedrooms and three baths in 2350 square feet. Emerald Pointe was also slow with just 12700 Yardley selling at $519,000 for a much larger 3350 square foot 5-bedroom. That house sat on the market for nearly a year.
A total of 7 homes sold for under $500,000. The lowest price was 12769 Hyland Circle at $422,500 with four bedrooms and three baths in 2500 square feet. That’s unusually low. The next lowest price was $450,000 for 12355 Melrose Way in Cascades. At 2150 square feet it is one of the smallest models in Boca Falls.
What’s for Sale?
As of this writing there are 15 homes listed in Boca Falls, ranging in price from just under $500,000 for a 2350 sq.ft. one-story 4-bedroom with a lake view in Victoria Falls up to $800,000 for one of the large 5000 sq.ft. models with 6 bedrooms in The Estates
What Didn’t Sell?
With all the new construction it’s becoming hard to sell higher end homes in neighborhoods like Boca Falls and Saturnia for a good price. Five listings priced over $750,000 all failed, with four of them in The Estates. A substantial proportion of the failed listings used Miami or Broward MLS services instead of Palm Beach, including 7 of the top 10 highest priced listings. Of those top 10, none have sold in subsequent listings. Two were successfully leased.
Several of the 33 listings that failed are repeats of other failed listings. Some homes fail repeatedly due to a combination of poor pricing and poor marketing. We see many listings with poor photography, errors in the descriptions including obvious spelling mistakes, and even inaccurate map locations. If you want to get your house sold for a fair price, it’s very important to hire a competent, thoughtful real estate agent.
For more information about Boca Falls and for a free estimate of your home’s value, call or text Warren at 561-536-3645.