33428 – Page 2 – West Boca News

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.

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.

47 Homes Sold in Loggers’ Run – Mid-Year Report for 2018

22585 Lemon Tree Lane in Tamarron; image by Google.

Loggers’ Run had 47 homes sold in the first half of 2018. 37 of the sales were single family homes, along with higher prices for the 10 townhomes and villas in Timberwalk.

Winding Lakes

There were only two transactions in the Winding Lakes subdivisions so far this year. 21503 Sweetwater Lane S in Winding Lakes III sold for $665,000, the highest in Loggers’ Run. The 5-bedroom, 3-bath house had extensive renovations and a nearly one-acre lot. The selling price was well below its original list price of $799,000.

In Winding Lakes I (south of Palmetto Park Road), 22396 Waterside Drive sold for $585,000 with 4 bedrooms, 2 1/2 baths, a 0.6 acre lot and a very impressive kitchen, all in 2900 square feet.

Tamarron

Also south of Palmetto, 22585 Lemon Tree Lane (picture at top of article) sold for $547,250 with 4 bedrooms and 2 baths in just 2500 square feet. This is another large lot at 1.2 acres.

Island Lakes

North of Glades Road, three homes sold in Island Lakes including 11874 Island Lakes Lane at $580,000. This is a rare two-story home in Island Lakes with 5 bedrooms and 3 1/2 baths in nearly 3100 square feet. The house sold in just 7 days. With higher list price and patience the sale price could have topped $600,000.

The other two sales in Island Lakes were the popular 2440 square foot model with 11560 Island Lakes Lane selling at $500,000 in just 5 days and 11720 Island Lakes Lane at $450,000 after 3 months on the market. The lower priced home had a more dated interior, though an arguably better location.

Indian Head

Indian Head was very active with eight sales already, compared to eight sales for all of 2017. 21044 Shady Vista Lane was the only home in 2018 so far that sold for over $400,000 at $440,000. That house has 4 bedrooms and 2 baths in 2100 square feet. Thanks to fresh renovations it sold in just 5 days.

Two homes on Shady Vista sold for $390,000 each, at 21077 Shady Vista Lane and 20972 Shady Vista Lane. Selling for $380,000 was 20858 Sugarloaf Lane, and two more sold for $370,000 – 21269 Purple Sage Lane and 20847 Sugarloaf Lane. These are all 3 and 4 bedroom homes between 1900 and 2500 square feet, and all sold in less than two months.

The low end in Indian Head was 21230 Raindance Lane at $335,000 with 3 bedrooms and 2 baths in 2000 square feet. It’s not clear from the listing why it sold for so much less, but it sat on the market for nearly 5 months.

Crystal Cove Estates

The newer homes on Kensington Court continue to sell well. Prices and sales volume are similar to 2017. There have been two sales so far in 2017:

The nearly 3900 square foot house at 11605 Kensington Court sold for $642,500 after 10 months on the market. Smaller but all on one floor, 11597 Kensington Court sold for $611,000 in less than three weeks.

Call or text Warren at 518-225-3710, or e-mail [email protected] for help buying or selling homes in West Boca.

Country Landing

As usual the Country Landing subdivisions were the busiest with 17 transactions so far in 2018. Prices varied more with a low of $295,000 for the small 1400 square foot house at 11418 Country Sound Court in Country Landing I, and three houses going for over $450,000.

In Country Landing 4, north of Glades Road, 11956 Sunchase Court sold for $465,000 with 4 bedrooms and 2 baths in 2000 square feet, and it went in just 3 days. Next door the same model at 11944 Sunchase Court got $455,000, also selling quickly.

Two more of the same model sold in Country Landing 3 over $400K with 21100 Woodspring Avenue at $457,400, in just 11 days, and next door 21090 Woodspring Avenue at $415,000 in only 5 days. And three more sold under $400K. A bank-owned foreclosure sold for only $330,000, while the other two went for $365K and $395K.

Country Landing I had 3 sales including the $295K low price, and two 1900 square foot 4-bedrooms at $380K and $350K.

There were six sales in Country Landing II, most in the mid-300 price range. 11668 Quiet Waters Lane managed to get $394,000 with only 1640 square feet. Listed as needing TLC, 21303 Summertrace Circle only got $315,000 out of its 1750 square feet.

Cimarron

Cimarron continues to sell well with a high price of $420,000 for the 1900 square foot 3 bedroom at 21636 Little Bear Lane. The low there was 11480 Chipmunk Drive with 2600 square feet, the price possibly affected by its corner location facing busy Ponderosa Drive.

Timberwalk

22529 Vistawood Way sold for $275,500 with extensive remodeling inside; image by Google.

Prices are up 7.5% in Timberwalk to an average of nearly $250,000. Of the 10 transactions this year so far, only two were below the 2017 average of $232,000, and only slightly below at $225K and $226K. Six of the transactions in the first six months of 2018 were at $250,000 or above, compared to four for all of 2017. The high price remains at or near $275,000, with 22529 Vistawood Way selling for just above that with 3 bedrooms and 2 baths in 1400 square feet.

Mission Bay Home Sales 2018 Through June

Mission Bay home sales for the first half of 2018. Image and map data by Google. Additional data by FlexMLS and Warren Redlich.

A total of 42 homes sold in Mission Bay in the first half of 2018, including 31 single family homes and 11 townhomes.

Single Family Homes

Only one home sold in Cordova Estates, at the second highest price in the development. 20369 Hacienda Court, with 5 bedrooms and 3 baths in 3,054 square feet, was purchased for $558,000 after five months on the market.

The price seems low for the size and condition of the house, but the odd location on the corner of a makeshift cul de sac may have made it harder to sell.

Six houses sold in The Isle, including the highest price in Mission Bay. 10735 Avenida Santa Ana landed a buyer at $630,000 in only 47 days. The house has 5 bedrooms and 3 baths in over 3100 square feet on one floor, with some very nice finishes and features throughout the house

Two smaller 2500 square foot houses in the Isle sold for $490K and $495K while the lowest prices were $393K and $394K for two bank-owned foreclosures.

Sonata also broke the $500K mark with 20270 Monteverdi Circle selling at $529,000 in just 13 days. The 5 bedroom, 3 1/2 bath house has 3000 square feet on two floors.

The courtyard home at 20270 Monteverdi Circle sold for $529,000. It has a small pool or guest house facing the street. Image and map data by Google.

Not far behind was 10934 Ravel Court at $480,000 with 4 bedrooms in 3000 square feet. There were five other home sales in Sonata, with two of them below $400K. Both of those were due for some updating.

Rounding out the north side of Glades, six houses sold in Ventura, three of them between $460K and $465K. All of those were 4 bedrooms with roughly 2300 square feet and they sold quickly. Ventura had another quick sale at $450K, and one buyer got a bargain with 20380 Cozumel Court at only $380,000 with 2500 square feet, remodeling and a new roof. Two attempts to sell via Miami brokers failed and then a Palm Beach broker got it done.

The highest price south of Glades was $485,000 for 20940 Avenel Run in Regatta. The house has 4 bedrooms and 3 1/2 baths in 2800 square feet, and it sold in only 5 days. Recent renovation with high end finishes certainly helped.

Two houses sold in La Costa, with 20933 La Plata Court going for $450,000 with 4 bedrooms and 3 baths in only 2260 square feet. The seller had done some remodeling, especially in the kitchen, but the bathrooms were dated. It went fast after only 5 days on the market.

Also in La Costa the smaller 20921 La Plata Court sold for $379,000 in less than a month with 3 bedrooms in 1900 square feet.

Laguna had five sales. 10694 San Bernardino Way was the top there at $426,000 for a 4-bedroom in 2200 square feet. Right behind it in price, the larger 2900 square foot 5 bedroom at 10668 Santa Laguna Drive went for $123,500.

Two houses in Laguna sold very low at $321,000 and $313,500, both 3 bedrooms with 1900 square feet and in need of work. The cheaper one’s listing indicated a mold problem.

Harbour Springs had three sales. Two smaller houses with 1900-2000 square feet sold for $375,000 and $376,000, while the larger 2900 square foot 5 bedroom at 11201 Harbour Springs Circle took an even $400,000. The house was on and off the market for over 18 months and sold well below its $489,000 listing price.

Townhomes

Reflections saw 8 transactions from $274,000 for a 1600 square foot 2 bedroom on Via Marisa to $325,000 for 10490 Lake Vista Circle (3 bedrooms, 3 baths, 2000 square feet).

Three townhomes sold in a tighter range in Las Flores with a 1600 square foot 4-bedroom on Via Jasmine selling for $294,000 and two 1800 square foot models on Via Oleander each selling for $300,000.

Boca Woods and Stonebridge Home Sales 2018 So Far

Eighteen homes sold in Boca Woods for the first half of 2018, while Stonebridge saw eleven transactions. The mandatory membership golf club communities have seen home prices challenged by a high volume of homes listed and a limited number of buyers. Despite that the news in the first half of 2018 looks good for home sellers.

Boca Woods

The high price last year in Boca Woods was $410,000 and that was topped by two sales. 10842 Pine Bark Lane went for $450,000, while 11391 Boca Woods Lane got $430,000. On the downside four homes sold in a low range from $110,000 to $125,000. Three houses sold in the low $300s from $315K to $330K. Most of the lower priced homes are around 2000 square feet, while those over $250,000 were all 2800 square feet or larger.

Despite the saturation problem (currently 40 homes listed for sale), prices appear to have risen both on the high end and the low end.

Stonebridge

With 35 homes listed Stonebridge is still a buyer’s market. Two houses sold for $95,000, both lower than the 2017 low of $102,500. Three houses sold over $450K, but no others over $370K. The top price was $490,000 for 10818 Ashmont Drive, with 3 bedrooms and 4 baths in nearly 3600 square feet.

The best buyer’s bargain was 10578 Stonebridge Boulevard, with over 3500 square feet selling for just $255,000.

In 2017 there were 5 sales over $400k with two all the way up at $495K. There’s half a year to go for 2018 so there’s hope that there will be more sales in the high 400s or even one breaking the $500K mark. Three of the homes listed are asking for prices above $600K. Boca Woods home sellers are less ambitious with none listed over $500K.

February Real Estate Update for West Boca

What Sold?
Just a quick update on the West Boca real estate market at the end of February. 274 homes have sold this year so far, 176 of them (including 141 condos, townhomes and villas) for less than $300,000.
75 homes sold for prices between $300K and $500K, all but three of them single family homes.
From $500K to $800K there were only 16 transactions, 9 of them in Boca Falls with 4 more in Boca Isles and 2 in Saturnia.
Over $800,000 there were 7 transactions all near Clint Moore with 3 in The Oaks, 2 in Long Lake Estates, 1 in Le Rivage and the most expensive one in Horseshoe Acres by auction for $3.1 Million, well off the list price of $4.35M.
What’s For Sale?
West of the Turnpike and south of the Delray line there are currently 802 homes on the market including 396 single family homes, 112 townhomes and villas, 287 condos and 7 mobile homes.
447 homes are listed for $300,000 or less, mostly condos and townhomes.
Between $300K and $500K there are 193 homes, nearly all of them single family.
In the $500K-$800K range there are 86 for sale, all single family homes. They tend to be in specific neighborhoods including Boca Falls, Boca Isles, Saturnia, The Shores, The Oaks and Avalon, with a smaller number in Boca Winds, Boca Reserve, Palma Vista, Loggers Run and Mission Bay.
76 homes are listed above $800,000, concentrated in The Oaks and Long Lake Estates.
Did You Notice?
In the sub-$300K market the number of transactions was more than 60% of the number listed. Homes under $300K sell fast. Keep in mind the sales are over a two month span.
In the lower middle range between $300K and $500K this drops to less than 40%. From $500K to $800K it drops to less than 20%. And over $800K the number of sales in that two month window is less than 10% of the number listed.
This should not be a surprise but less expensive homes sell more quickly. At the high end the market is so saturated with homes for sale that it gets very tough to get a good price for your house and it may not sell at all. You have to be patient. If you need to sell quickly, you may have to price it below market value.
Saturation
When a lot of homes in the same community are on the market, it’s harder for a seller to stand out and get full value for their home. Buyers have a lot of other choices.
In The Oaks 10% of all the homes in the development are listed for sale. The country clubs are similar. 11% of the homes in Stonebridge are on the market. Boca Woods is doing a little better at 6% on the market. Avalon has 6% listed.
Perhaps the most saturated is Le Rivage, a small superluxury development on the northeast corner of Lyons and Clint Moore, where 5 of the 18 houses (28%) are listed for sale. Prices range from $2M up to $3.75M. Across the street Long Lake Estates has over 13% of its homes listed with prices from $1.1M to $7M.
Compare that to Boca Falls where there are only 20 houses listed right now, less than 3% of the development. In Saturnia there are currently 13 homes listed out of 414, just over 3%. The Shores, Boca Greens and Palma Vista all have about 4% of their homes on the market. Mission Bay has 18 houses listed.
Not Saturated
It may be a good time to list when few other homes are listed like yours.
Boca Isles has 19 homes listed out of 876 or around 2%. Boca Winds has even fewer with only 15 houses listed out of 1100 homes in total, not much over 1%. Inventory seems particularly thin in Loggers’ Run with only 11 single family homes on the market. There are only 2 homes listed in The Lakes at Boca Raton (north of Yamato near Cain, and only 6 single family listings in Boca Chase (plus 2 in the 55+ homes). Lexington Estates only has one home listed.
Another area that’s very thin is around Lyons Road south of Glades where there is one home for sale in Escondido and nothing in Timbers of Boca or Pine Springs. The road construction on Lyons may have discouraged sellers.