Home prices in Saturnia were flat in 2016 when compared to 2015. After removing foreclosure-related transactions the average price was $636,000, slightly below the 2015 and 2014 averages of $638K for each year.
On the bright side prices were up four percent on a dollars per square foot basis, rising from $180/sq.ft. to $188/sq.ft.
In 2015 the smallest transaction was at $500K. That slipped in 2016 with three houses going for less, and the cheapest all the way down to $455K. 2015 was an unusual year with more transactions (30) and a tighter price range ($500K to $790K). In 2016 there were 23 transactions with a broader range, and 2014 was even wider with one house going for over $1M.
Saturnia is a gated community at the far west end of Yamato Road. It is across the street from highly rated Eagles Landing Middle School and Sunrise Park Elementary, and it is zoned for Olympic Heights High. The west side of the neighborhood borders the Loxahatchee Wildlife Refuge and the land to the north is unlikely to ever be developed. South County Regional Park is to the east. Most houses range in size from 4 bedrooms in 2600+ square feet up to 5 or 6 bedrooms with some over 4000 square feet.
Tag: 33498
2016 Home Prices Flat in The Shores at Boca Raton
On raw numbers home prices in The Shores fell 1% in 2016 from the 2015 numbers. The 2016 average transaction came in at $471,000, down from $477,000. As we saw with nearby Boca Isles, the average was distorted by a larger than usual number of “REO” homes sold after foreclosure.
Taking the REO deals out of the data leaves an average price of $489,000 in 2016. Measured in dollars per square foot, prices were still flat at $164/sq.ft. Houses in The Shores took much longer to sell in 2016, averaging 77 days compared to only 36 days in 2015.
The Shores at Boca Raton is a gated community of single family homes located at the far west end of Yamato Road. Typical home prices range from $400K to $600K. Most houses have four or five bedrooms though there are a few with three bedrooms. The neighborhood is zoned for Sunrise Park Elementary, Eagles Landing Middle, and Olympic Heights High, all excellent schools.
The Shores responded to our request for information about updates:
Over the last year we have done many major improvements.
Upgraded security system with new cameras, RFID Stickers, Key Fob at the clubhouse, new gates as well as a new third gate barrier. Also purchased new Security database where residents may update their guests list via internet and mobile app.
- Renovated clubhouse exterior with a new roof, paint, pool furniture, and pool landscaping
- Completed a new Playground
- Renovated the gym. Purchased Cybex treadmills,Cybex arc trainer, Cybex all-all-in-one functional trainer, and Octane Elliptical trainers. Carpet replaced and walls painted.
There are several projects in the works
- Re-design of the front entrance
- Renovation of the children’s clubhouse to include new carpet, furniture and paint
- New sidewalk installed to create better traffic flow to the playground, childrens playroom, and the pool.
Foreclosures Depress Boca Isles Prices
Home prices in Boca Isles fell by nearly 4% in 2016 compared to 2015. The average transaction price was $492,000, a drop of $20K from the $512,000 average in 2015. The numbers are still higher than they were in 2014 ($478K).
As we noted in our mid-year report on Boca Isles, these numbers are a bit misleading. There were a large number of “REO” (bank owned) transactions in 2016 and these tend to sell at lower prices. Removing the REO transactions from both years showed no significant changes in price from year to year with average price in both years around $512K.
Measured in dollars per square foot, the overall average for 2016 was $182/sq.ft. Removing non-REO homes raises that average to $188/sq.ft, about the same as 2015 but well above the 2014 numbers.
Leaving out the REO homes, prices ranged from a low of $392K to a high of $670K. Seven of the REO homes sold for less than $390K. Most homes in Boca Isles have four or five bedrooms ranging from 2300 to 3200 square feet. There are a few exceptions.
There were roughly 60 transactions in each of the last three years. Excluding REO homes, homes sold a little quicker in 2016 with the average selling in a bit less than two months and the median at only 34 days.
Boca Isles includes two neighboring gated communities zoned for Olympic Heights High, Eagles Landing Middle, and Sunrise Park Elementary. They are located on Cain Blvd south of Yamato, with South County Regional Park to the west.
If you’re thinking of buying or selling a home in West Boca, choose a Realtor® who knows the market. Call Warren at 888-733-5299 or e-mail him – [email protected].
This is the third article in our series analyzing real estate transactions for 2016, following our articles on Boca Winds and Boca Falls. More coming soon.
Recent Home Sales in Saturnia, Boca Isles and Mission Bay
Homes in the 33498 zip code are located north of Glades Road and west of 441. Neighborhoods include Saturnia, Boca Isles, Island Lakes, Stonebridge, Shores, Boca Greens and the northern part of Mission Bay. The schools have an excellent reputation and the area has one of the lowest crime rates in Palm Beach County. Most homes are close to South County Regional park.
The Saturnia neighborhood is wonderful for families and offers a 24 hour guarded gate, clubhouse, pool and spa. It also has basketball, tennis courts, and a fitness center. Students attend the highly regarded Eagles Landing Middle School and Olympic Heights High School, though some go to other area schools. As we recently reported home prices in Saturnia have been going up.
The beautiful one story home at 19188 Natures View Court sold for $770,000. It has 5 bedrooms and 4 full bathrooms in 3681 sq. feet of living space. This home sits on a 1/3 acre cul de sac lot with a great lake view. The gourmet kitchen has wood cabinets, granite counter tops and stainless steel appliances. The master suite has a sitting area, 2 walk in closets and a marble master bath with jetted tub. The backyard has a screened in porch with heated pool and tub. Other special features include accordion hurricane shutters and marble floors. Built in 2000, it was last sold in 2000 for $625,466.
The ranch home at 19228 Skyridge Circle sold for $532,500. It has 3 bedrooms and 2.2 bathrooms in 2819 sq. feet of living space. Located on the lake, this home has tile throughout and lots of upgrades. The large kitchen has granite counter tops and a center island. There is lots of natural light and high ceilings. The outdoor space features a screened in patio and pool with fountains. Built in 1999 for $327,900, it was last sold in 2011 for $525,000.
There are two Boca Isles neighborhoods, west of Cain Blvd and south of Yamato Rd. Boca Isles North and Boca Isles South, are gated communities with bike and jogging paths and they’re popular with families. Home prices in Boca Isles have been flat at best recently.
The Mediterranean style home at 10677 Maple Chase Drive sold for $555,000. It has 4 bedrooms and 3 full bathrooms in 2660 sq. feet of living space. The home sits on an oversized lakefront lot and boasts a new custom heated screened in pool. There are lots of upgrades including a new roof in 2009, carpet and accordion shutters. There is engineered wood flooring throughout. The gourmet kitchen has granite counters, hi gloss cabinets and top of the line appliances. Built in 1993, it was purchased for $465,000 in 2014.
The Grand Cayman one story home at 20100 Palm Island Drive sold for $515,000. It has 5 bedrooms and 3 full bathrooms in 2805 sq. feet of living space. Large, open and spacious, it has high ceilings and custom front doors. The oversized kitchen opens to the large family room. The floors and bathrooms have all been updated. The backyard features a solar heated diamond bright pool with a waterfall. Built in 1994 for $254,000, it sold for $419,000 in 2009.
The Mission Bay development consists of over twelve hundred homes within 10 “villages.” Certain villages have their own sub-associations. The community is west of 441 and covers 500 acres on both sides of Glades Road. The land includes the Evert Tennis Academy and Boca Prep International School and is near commercial plazas including Sports Authority and Mission Bay Plaza. There are swimming pools, tennis leagues, social events and more. HOA fees vary.
The ranch home at 10751 Avenida Santa Ana sold for $535,750. It has 3 bedrooms and 3 full bathrooms in 2860 sq. feet of living space. This newly renovated home on a cul de sac has a large lake view. The new kitchen has stainless steel appliances, granite counter tops and cabinets with self-closing drawers. The bathrooms have also been recently upgraded. A screened in patio and pool overlook the lake. Built in 1991, it has changed hands a few times; it was sold in 2015 for $510,000.
The contemporary home at 20396 Hacienda Court sold for $515,000. It has 4 bedrooms and 2.1 bathrooms in 2514 sq. feet of living space. The open floor plan has lots of light and split bedrooms. The large kitchen has a peninsula open to the family room and sit in eating area. French doors lead to the backyard. Located on an oversized lot, the outdoor entertaining has a screened in patio with a pool and hot tub. Built in 1994, it was purchased for $425,000 in 2013.
Three Saturnia Homes for Sale
There are currently 20 homes on the market in Saturnia, ranging in price from $539K to $949K. We were invited to a “twilight open house” event. All three we saw are still on the market.
At the high end is 19551 Saturnia Lakes Drive. It’s a large and gorgeous house, combining great curb appeal (we had low light so our picture does not do it justice) with a spectacular backyard and also great interior elements. The driveway and back patio are substantial upgrades and there are marble floors inside. Over $100K of Swarovski crystal chandeliers are included. The house has five bedrooms and four and a half baths.
This house has been on the market for over a year. In its previous listing it started at $1.1 million, or nearly $240 per square foot. The list price has been dropped a few times and it is now available for $949,000, or just under $200/sq.ft.
On the one hand it’s pricey for the neighborhood. Saturnia home sales averaged $187/sq.ft. in the first half of the year. On the other hand, four other homes in the community sold for over $200/sq.ft. and the price is a big bargain when compared to similar homes in The Oaks and The Bridges. The Oaks averaged $215/sq.ft. in transactions during the first half of the year.
11725 Watercrest Lane is a similar model listed for $849,000. It doesn’t have all the upgrades but is still in very nice condition and is configured with six bedrooms.
At $181/sq.ft., it is listed at less than the recent average transaction price for Saturnia. It was originally listed for $939.5K and has been on the market for over 7 months. At the current price it arguably makes a bigger bargain but the first one is a better deal if you like those upgrades.
Toward the low end of prices in Saturnia, 19047 Skyridge Circle is a 5-bedroom 3-bath house listed for $565K. At just over 3000 square feet, it felt noticeably smaller than similar houses we are familiar with in other communities. The backyard view is out to a canal and land that is unlikely to ever be developed – owned by the water management district.
It has been on the market for just over 4 months and is priced right at the community average of $187/sq.ft.