Lakes at Boca Raton $300K to $500K – First half of 2018

Roundabout on Cain north of Yamato in Lakes at Boca Raton; image by Google

Ten single family homes within Lakes at Boca Raton sold in the first half of 2018 along with three townhomes and three villas. The single family home prices ranged from just over $300,000 for a foreclosed three bedroom to $492,500 for a four bedroom in Harbour Lakes with 2400 square feet. Townhomes and villas ranged from $200,000 to $242,500.

Single Family Homes

10738 Seacliff Circle sold for $492,500; image by Goole.

Harbour Lakes had the three top sales for the first half of the year. The biggest was 10738 Seacliff Circle at $492,500 for this four bedroom in 2400 square feet. Features include extensive remodeling with gorgeous floors, a screened-in pool and a large lot with lake view. 10756 Sea Cliff Circle, the same model just around the corner without the remodeling, sold for $435,000.

Two somewhat smaller four bedrooms homes sold in Cypress Bend for $412,000 (2100 square feet) and $400,000 (1900 square feet). Three homes sold in the mid-300s, one each in Pelican Cay, LaCrosse and Symphony.

10696 Plainview Circle; image by Google.

The two lowest single family prices were in Port Cayman. 10696 Plainview Circle sold for $320,000 with three bedrooms in 1500 square feet. It took seven months to sell. Reading the phrase “everything is immaculate” in the listing and then looking at the photos may have caused cognitive dissonance for some prospective buyers.

Townhomes and Villas

The highest price for townhomes was $242,500 for 10274 Riverbend Terrace 14B, a three bedroom unit with just over 1200 square feet. It was the largest unit sold so far this year. All the rest were two bedroom units with 1100 square feet or less. A few doors down the villa at 10282 Riverbend Terrace sold for $220,000 with just 1000 square feet.

The low end was 10324 Windswept Place, the same model villa that sold for $199,900.

Prices Down in The Shores

Entrance to The Shores; image by Google.

Prices fell sharply in The Shores for the first half of 2018 with an average of $496,000, down nearly 7% from the $531,000 average in 2017. This was largely due to the size of homes in the transactions as the per square foot price held steady at $171.

Eleven homes sold at a 22/year pace, a bit faster than the 19 transactions for 2017.

Shores at Boca Raton on map; image and map data by Google and MLS service.

Five of the eleven transactions were over $500,000 or more, peaking at $551,000 for 11301 Sea Grass Circle, a four-bedroom with 3100 square feet all on one floor. The house includes a bonus second kitchen. Right behind that at $550,000 was 18576 Ocean Mist Drive, a six-bedroom with 3400 square feet on two floors.

Three 2900 square foot homes clustered in price just under $500K with two selling at $495,000 and one $493,000.

At the low end two smaller houses sold not far over $400K. The 2100 square foot three bedroom at 11484 Sea Grass Circle sold for $422,000, while 11435 Sea Grass Circle sold for $407,000 with four bedrooms in 2300 square feet.

On the bright side the houses are not taking as long to sell, averaging less than two months on the market. That statistic can be misleading as a few of the homes sold only after earlier listings failed. For example 11090 Blue Coral Drive sold on its fourth listing after it first went on the market in March of 2017.

The Shores remains somewhat saturated with 10 listings or about 3% of the homes in the development. That level of seller competition makes it a bit easier for buyers to find a deal.

Saturnia Prices Continue Decline in 2018 First Half

Saturnia entrance; image by Google.

Saturnia continues to be a luxury buyer’s bargain. The average price through June of this year fell to $619,000, down from $630,000 in 2017 and $638,000 in 2015. The first half of 2018 saw an increase in the pace of transactions with 21 homes sold. This is on pace for 42 transactions for the full year, up from 33 in 2017 and 23 in 2016. The community is now slightly more saturated than before with 14 homes listed, which is 3.4% of the community.

Three homes sold for over $700,000, while only one sold below $500K. As usual for Saturnia most of the higher prices were for houses over 4000 square feet. The highest price was $735,000 for 19329 Skyridge Circle, a 5-bedroom, 4-bath in 4100 square feet over two floors that sold in just two weeks. It’s gorgeous. On the outside it has an extra-large backyard thanks to a large lot (2/5 or 0.4 acre) and large covered patios on both floors overlooking the swimming pool and hot tub. Inside has all the right touches including a loaded kitchen – extra large refrigerator, double oven, all in stainless with granite and upgraded tile floors.

Not far behind was 19534 Saturnia Lakes Drive, selling for $730,000 with a much larger 4700 square feet. This is another gorgeous house with an over the top backyard including outdoor kitchen and an amazing pool with waterfalls and a slide.

Saturnia sales map for first half of 2018. Image and map data by Google and MLS service.

Both of those homes sold in less than a month. By contrast 11755 Bayfield Drive is smaller and took over 7 months to sell, but the price of $720,000 for 3500 square feet was a better deal for the patient seller. The house does not have all the features of the two others, but it is on one floor and has a lake view.

A total of 14 homes sold for $600,000 or more, all with at least 3100 square feet.

Most of the homes selling below $600,000 were 2700 square feet or less, though 11747 Bayou Lane sold for $545,000 with over 3300 square feet. This may be another example where hiring Miami-based realtors did not help the seller. This was the third listing since it first went on the market in 2016, all three with Miami realtors. It took about 18 months to finally get it sold and the price was well below market value, despite extensive renovations.

At the low end, 19101 Skyridge Circle sold for $515,000 with 2800 square feet. 19150 Skyridge Circle sold for $500,000 even with 2700 square feet, and 19681 Estuary Drive was the bottom at $465,000. All three are four-bedroom models.

Home Prices Cool Off in Boca Greens – First Half of 2018

Boca Greens entrance from US-441; image by Google.

Boca Greens home prices stopped rising. The average price in the first half of 2018 was $415,000, down 1.1% from 2017. Over the past few years prices have been going up for various reasons, but they may finally have hit their peak.

The pace of transactions continued with 25 sales in first half of 2018, dead on with the rate of 50 per year from last year. The top price of $484K is well below the 2017 high of $650,000. Last year three homes sold for over $500,000.

There’s good news at the low end. The lowest price was $308,000, well above the two homes that sold last year at $255,000 and $260,000.

10440 Canoe Brook Circle sold for $484,500. It’s a four bedroom, three bath home in 2500 square feet. Next was 10370 Camelback Lane, also 2500 square feet, at $472,000.

The biggest home was 10447 Canoe Brook Circle with 2800 square feet. It sold for $457,500, after nearly 8 months on the market. Three other homes sat on the market even longer with one taking over 450 days. This pushed the average “days on market” to 106 days. Taking out those four houses dropped the average to 64 days (just over two months).

The low end was comprised of smaller 1500 square foot two-bedroom houses. 10066 Camelback Lane sold for $308,000 and 10150 Camelback Lane for $325,000. A total of 8 houses sold under $400,000.

Prices Down in Boca Isles – Home Sales for First Half of 2018

Boca Isles sign; image by Google.

28 houses sold in Boca Isles in the first half of 2018, 18 of them in Boca Isles South. None were over $700,000 though 7 of the sales were for over $600,000. In 2017 four homes went over the $700K mark. The low end was also lower with two homes selling under $400,000, compared to one for all of last year. The average price for all of Boca Isles was $531,000, down 2.4% from last year. The number of sales this year is also a little lower so far, while houses still average getting to contract in just over two months.

Boca Isles South

The four highest prices were all in Boca Isles South. All four have five bedrooms and 3200 or more square feet, and the top price went to 10897 Bal Harbor Drive at $695,000 with 3400 square feet.

Also above the $600K mark was 20111 Palm Island Drive at $623,000 with five bedrooms in only 2800 square feet, all on one floor.

Six homes sold in the 500s from $520,000 up to $580,000. 10611 Saint Thomas Drive sold for $555,000 with four bedrooms and three baths in 2900 square feet in a two floor model.

It was a big drop from there to the next group of four-bedroom houses selling from $414,500 up to $439,000. Three of the five were bank-owned foreclosures. Three of these lower prices were for the 2300 square foot four bedroom model. Keep in mind that last year we sold one of these models for $480,000.

Warren’s listing at 19641 Biscayne Bay Drive sold in 2017 for $480,000.

The bottom price was $369,000 for another bank-owned 4-bedroom, though with 2900 square feet. Also under $400K was 19832 Dinner Key Drive, another four bedroom in 2300 square feet, which sold for only $376,210 despite a complete remodel. That’s over $50,000 less than the nearest comparable sale. The house was listed by a Miami Realtor and the photography was terrible.

Boca Isles North

Entrance to Boca Isles North; image by Google.

There were 10 sales in Boca Isles North in the first half of 2018. Two sold above $600K. With five bedrooms in 2800 square feet on one floor, 10863 Japonica Court closed at $630,900. The house has a somewhat larger than usual backyard and had undergone some remodeling.

19433 Black Olive Lane sold for $610,000 with four bedrooms in 2700 square feet on two floors. The house has been off and on the market since 2014, was foreclosed in 2015, and then underwent a complete renovation including a new roof in 2015, but still took three years and substantial price drops to get sold.

A five bedroom, 3000 square foot model at 10752 Maple Chase Drive sold twice in three months, first for $565,000 in January and then for $584,000 in April. This is an odd thing we see once in a while, and it’s funny to see how different listings of the same house have different details including year built and HOA fees.

Three more houses sold in the 500s from $520K for a 4-bedroom with 2700 square feet to $560K for a 4-bedroom with 3000 square feet.

Two more 4-bedrooms sold in the high 400s ($475K and $489K) with around 2700 square feet each. And the lowest price in Boca Isles North was $412,500 for that 2300 square foot 4 bedroom model at 19400 Preserve Drive.