Boca Falls 2018 Report

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.

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Lexington Estates and Paraiso 2018 Home Sales – First Half

Lexington Estates entrance; image by Google.

Lexington Estates

Prices are up in Lexington Estates, where nine homes sold in the first half of 2018. The top and bottom prices are above what they were in all of 2017. Still even the houses that sell well are getting less per square foot than comparable homes in similar gated communities.

One house broke the $500K mark. 22299 Tupelo Place sold for $510,000, with 4 bedrooms and 2 1/2 baths in 3000 square feet. The updated kitchen and some other nice features helped it sell in just one month.

On same cul de sac, the much smaller 22286 Tupelo Place had the low price at $375,000 with 3 bedrooms and 2 baths in only 1800 square feet. It has one of the best lot locations in the neighborhood but the house was in sore need of updates throughout. Only one other house sold for less than $400,000 and it was a bank-owned foreclosure.

Six of the nine houses sold for over $450,000. Going for $475,000 was 22176 Braddock Place, a 5-bed, 3-bath model with 3000 square feet and some high end features like marble floors. With all that it’s still less than $160/sq.ft.

Lexington Estates and Paraiso are on the west side of US-441 south of Palmetto Park Road. Image and map data by Google.

Paraiso

The number of sales has increased dramatically in Paraiso (formerly known as Allegro). Seven homes sold in the first half of the year, up from six in all of 2017. There was only one sale under $300K (compared to 3 last year) but the high price was much lower as well.

Paraiso entrance; image by Google.

10130 Fanfare Drive sold for $340,000 with 4 bedrooms and 2 1/2 baths in 2100 square feet. All the other homes that sold were much smaller, most under 1500 square feet.

10266 Allegro Drive sold for $330,000 with 3 bedrooms and 2 baths in 1450 square feet.

The lowest price was $290,000 for 22280 Tempo Way. The 3-bedroom with 1700 square feet is the closest house to the main gate and was due for some updates. It took over 8 months to sell. All the other houses sold in less than 2 months and most in 3 weeks or less.

Palmetto Pines and Boca Springs Home Sales 2018 Through June

10291 W Sunstream Lane sold for $435,000; image by Google.

There were 18 home sales in the first half of 2018 in Boca Springs and Palmetto Pines. Two houses in Boca Springs sold for over $400,000, while Palmetto Pines topped out at $375,000.

Boca Springs

Sellers in Boca Springs are getting more for their homes this year so far.

10291 W Sunstream Lane, pictured at top, has 4 bedrooms and 2 /12 bathrooms in 2300 square feet. The new roof and extensive remodeling helped it sell in 6 weeks for $435,000.

10880 Fox Glen Drive sold for $419,000 with 4 bedrooms and 3 bathrooms in 2700 square feet after more than 5 months on the market. The house was also extensively remodeled, but non-neutral design choices may have affected the sale.

The smaller 10711 Palm Spring Drive sold for $341,000 with 4 bedrooms and 3 bathrooms in 2200 square feet. The listing text described remodeling but the photos did not show that well.

Two homes sold below $320,000. One was a bank-owned foreclosure, 11172 Sandpoint Terrace, sold for $319,000 with 3 bedrooms in 1900 square feet. And 10303 Boca Springs Drive, with only 1600 square feet, sold for $315,000.

Palmetto Pines

22074 Greenwich Court E sold for $375,000; image by Google.

Palmetto Pines saw 13 sales in the first half of the year. At the top was 22074 Greenwich Court E with four bedrooms and two bathrooms in 1750 square feet all on one floor. The house sold in just 9 days, likely helped by professional photography that showed off the remodeling, lot size, pool and other features. Photography included multiple photo sessions and HDR software.

Two other homes sold for $350K or more. 22317 Boulder Street went for $359,900 with four bedrooms and three bathrooms in 2000 square feet, while 11178 Delta Circle was $350,000 even with three bedrooms and two baths in 1700 square feet – selling in just two days.

All but two of the remaining homes sold for over $300,000. For example 10901 Granite Street netted $327,000 with 3 bedrooms and 2 baths in 1450 square feet.

Second from lowest was the 1100 square foot house at 4562 Ararat Street, selling for $293,000. The lowest, at $267,000, was 4747 Betelnut Street, a bank-owned foreclosure.

Palma Vista and Avalon Home Sales 2018 First Half

Five homes sold in Palma Vista and two in Avalon in the first half of 2018. They seem to be moving slower as they all took over two months to sell and five of the seven took over 100 days, and prices seem to be down.

Palma Vista

The highest price for both neighborhoods was $655,000 for a 6 bedroom, 3700 square foot two story at 21074 Bella Vista Circle in Palma Vista. The house had been rented out the past couple years. Overall Palma Vista home prices seem down a bit. It’s possible that the new “Uptown Boca” development to be built just northeast of the community is affecting values but we’re not sure if that’s it. Two of the homes were bank owned foreclosures. One of them sold for only $372,000 with 4 bedrooms and 2800 square feet all on one floor.

The other foreclosure was a large 3800 square foot house that sold for only $546,000. The best deal for a seller was 9736 Palma Vista Way selling for $526,000 with just 2500 square feet.

The community has a location with unique benefits, in particular the ability to walk into the Jewish Federation campus for the Jewish schools and JCC.

Avalon

21830 Cypress Palm Court sold for $585,000 with 5 bedrooms in 3550 square feet. The house has deluxe finishes in the kitchen and at least one bathroom.

9786 Parkview Avenue sold for $580,000 with 5 bedrooms in 2900 square feet. The interior is a mix of recent upgrades with some dated features like flooring and windows.

Boca Winds and Boca Falls Real Estate Mid-Year Report – 2018

21375 Falls Ridge in Boca Falls sold for $735,000 in February after 4 1/2 months on the market. Image by Google.

Boca Winds

Boca Winds saw 26 home sales in the first half of 2018, with 9 of those in Ashley Park and 7 in Waterways. The community continues to have a low inventory with only 10 homes on the market. There is only one home listed in Ashley Park.

Low inventory often leads to higher prices as demand outstrips supply. Boca Winds certainly saw some good prices with 22257 Vista Lago Drive getting the highest by far at $680,000.

22257 Vista Lago Drive; image by Google.

With 6 bedrooms in over 3500 square feet, the house has gorgeous lake views and significant upgrades. It was the only transaction in Carlyle Estates.

Four homes sold in the 500s with the 3600-square-foot 12672 Tucano Circle in Waterways going for $590,000. Our favorite spot in Boca Winds is Waters Edge Estates where 12613 Little Palm Lane sold for just over $550,000.

Ten homes sold in the 400s. 12641 Maypan Drive in Waterways sold for $490,000 with 5 bedrooms in 2900 square feet, while Ashley Park’s 22559 Grouper Court was purchased at $415,000. The high price in Ashley Park was 22480 Swordfish Drive at $425,000 with over 2200 square feet, a water view and even a little dock.

Nine homes sold in the 300s, most of them in Ashley Park with a couple in Regency Place. And two homes in Ashley Park went for under $300K. 22412 Sea Bass Drive took the low number at $280,000. I actually went to this for an open house. It felt even smaller than the 1300 square feet the listing reports, and the interior looks like it was never updated in 30 years.

The biggest buyer’s bargain was 12931 Elmford Lane in Regency Place, which has 1900 square feet and sold for $365,000. The house is on a cul de sac lot and has a short walk to the Hillsboro Canal and nature hikers might appreciate the easy access to the Fran Reich Preserve.

Boca Falls

There’s a bit more inventory for buyers in Boca Falls with 11 homes currently listed, though four of the subdivisions have no listings at all.

22 houses sold in Boca Falls in the first half of 2018. Prices ranged from a low of $450,000 for a small 4-bedroom in the Cascades subdivision up to $735,000 for a 3800 square foot 5-bedroom in The Estates. Of the 22 sales, 6 were priced over $600,000 with the highest prices in The Estates ($735K and $660K for the same 3800 square foot model) and Crystal Pointe ($650K each).

Twelve sales were priced in the 500s from $505,000 to $585,900. Five houses sold under $500,000 including two bank-owned foreclosures. Other than a couple of problem listings, everything sold under $550,000 was small, generally under 2800 square feet.

Six homes sold in Crystal Pointe while there was only one each in The Estates, Cascades, and Emerald Pointe, and no sales in Victoria Falls.

The seller horror story was 12700 Yardley Drive in Emerald Pointe. The house was originally listed for $619,000 in April of 2017 by a discount broker. After a price reduction to $599,000 and 6 months on the market the listing expired. The seller listed again with the same real estate agent for another four months, lowering the price a few times until the listing expired again in February. With dogged determination the seller doggedly stuck with the same agent for another listing and another series of price reductions until they got down to $529,900 and it sold 6 days later for $519,000.

12700 Yardley; image by Google

The sale price is well below what we see for similar houses. With over 3300 square feet the closing price works out to just over $150 per square foot. It’s a large house with updates throughout including marble in the bathrooms, wood floors, a media room, custom kitchen and more. We see a couple similar size homes in Boca Falls with fewer upgrades that sold quicker and for much better prices.