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.

Boca Greens Home Prices Up Again For 2017


The Boca Greens average home price rose again in 2017. The average home price was up 5% to $420,000 from $400,000 in 2016, and an 18% increase from 2014’s $378,000 average.
Last year three homes sold for over $500K for the first time in a few years. 2017 cracked the $600K barrier with one home selling for $650,000 and two more homes selling over $500K.
There were 49 Boca Greens homes sold in 2017 with prices mostly above $300,000. Two homes sold below that level with one a small 1200 square foot 2-bedroom at $255,000 and the other sold by a bank after foreclosure at $260,000.
The average for Boca Greens homes sold in 2017 was a 2200 square foot 3-bedroom bought for $420,000 after 3 months on the market.
The unicorn of the year was 10369 Canoe Brook Circle, a 3000 square foot 3-bedroom that sold for $650,000. The house was meticulously remodeled throughout, but $650K still seems very high for the neighborhood. It was over $100,000 higher than any other transaction.
It took over 8 months to find a buyer willing to pay for all those upgrades, and to get the seller to accept a price that low. The house was originally on the market for $760,000.

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The biggest apparent bargain of the year in Boca Greens was 10448 Milburn Lane, a 2700 square foot 3-bedroom that sold for $395,000, or $145/sq.ft. It was due for significant renovations.
The highest paid for the least size was 19589 Sea Pines Way, a 1400 square foot 3 bedroom that got $373,000, or $260/sq.ft. The house was fully renovated in 2014.
The most average home was 10264 Crosswind Road, a 2200 square foot 3-bedroom selling for just under $420,000, or $194/sq.ft. It sold in just 3 days.
Some believe that the new Chabad in Boca Greens plaza, in walking distance for observant Jews, is the reason for the price increases. We have seen similar effects in other places like Century Village.

Boca Greens Homes Sold 2017


Just under 50 homes were sold in Boca Greens for the year 2017. Prices ranged from $255,000 for a small two-bedroom up to $650,000 for a three bedroom model with 3000 square feet. Both of these were outliers as 43 of the 47 transactions were in the $300K to $500K range.


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The average sold home stayed on the market for more than three months, which hints that the market may be softening. Average price per square foot was $195 and the average sale price was nearly $420,000, both up from the 2016 numbers for Boca Greens.
Back Nine Drive had the most transactions – 10 of them – including the two lowest prices at $255K (mentioned above) and $260K for a 1400 square foot 3 bedroom coming out of a foreclosure. The top price on Back Nine Drive was $460,000 for a 3-bedroom with 2300 square feet with renovations in the kitchen and bathrooms and a brand new roof.
The highest prices were on Canoebrook Circle. Out of the nine transactions, six were for over $440K including the $650K monster, which took two listings and nearly ten months to sell.

Please this report is from a week before the end of the year, so there may be one or two more deals we missed.

Boca Isles, Saturnia, Boca Greens, Shores, Lakes at Boca Raton: Real Estate Report

We report on 17 homes sold from $330K to $735K in zip code 33498. Mission Bay and Island Lakes were covered in a previous article.

18636 Cape Sable Drive in Lakes at Boca Raton sold for $470K.

Saturnia
Saturnia generally has the highest prices west of US-441. This report is no exception with two of the top three prices in Saturnia. Mainly this is due to the homes being large.
19354 Skyridge Circle sold for $735,000. The house has just over 4000 square feet with 5 bedrooms, 4 bathrooms and a variety of nice features including a screened in pool with a lake view and a large second floor patio inside the screen.
Nearby 19245 Skyridge Circle sold for $670,000 with 5 bedrooms and 3 bathrooms in 3300 square feet. It has extensive remodeling including the kitchen, master bath and marble tile.
Boca Isles
Boca Isles is a large development between Yamato and Glades on the west side of Cain. It includes two sections, North (closer to Yamato) and South (closer to Glades).
20070 Ocean Key Drive in Boca Isles South sold for $705,000, a pretty high price for that community. The house has 5 bedrooms and 3 baths in just under 3200 square feet, with extensive remodeling.
19078 Cloister Lake Lane in Boca Isles North sold for $605K with 4 bedrooms and 3 bathrooms in 2700 square feet on one floor. Again this home had substantial remodeling and also has a screened in pool.
Back to Boca Isles South, 10933 Bal Harbor Drive sold for $569K with the same “Palm Beacher” 5 bed, 3 bath model as the one on Ocean Key Drive. The kitchen was nicely remodeled. Bathrooms and some floors could use an update and there’s no lake view but overall this buyer got quite a bargain by comparison.
Still in South, 19753 Dinner Key Drive sold for $545K with 4 beds and 3 baths in 2900 square feet on two floors. The house has some upgrades but some curious design choices may have reduced buyer interest.
In Boca Isles North again, the smallest model at 19496 Preserve Drive sold for $495K. It has 3 bedrooms and 2 baths in 2100 square feet. A new roof and various upgrades likely increased the value.
The slightly larger at 10864 Tea Olive Lane sold for $479K with 4 bedrooms and 2300 square feet. Again a new roof helped the price.
The lowest price in Boca Isles goes to 20113 N Key Drive (Boca Isles South) at $455K with 4 bedrooms and 3 baths in 2800 square feet. The price was lower than usual because it’s a bank-owned property after a foreclosure last year.
The Shores at Boca Raton
Unusually large for The Shores, 11307 Sea Grass Circle sold for $665K with 7 bedrooms and 4 1/2 baths in just over 4000 square feet on two floors. It’s a relatively high price for the neighborhood but a good deal for the buyer on a dollars per square foot basis and the house has some nice features as well.
We see more typical pricing with 18524 Ocean Mist Drive selling for $534K with 5 bedrooms and 3 1/2 baths in 3400 square feet. The price still works out cheap in dollars per square foot.
Boca Greens
Boca Greens is a gated golf course community but membership is not mandatory. Most homes are on one floor.
10353 Milburn Lane sold for $549,000. It has 4 bedrooms and 3 bathrooms in 2700 square feet. This is after substantial renovation including new roof, new air conditioning, kitchen, floors and more.
The larger 10367 Camelback Lane sold for $480K with 4 bedrooms and 2 1/2 baths in 2900 square feet. The substantial backyard is probably a magnet for sliced tee shots.
10556 Fenway Place went for the lowest price in Boca Greens this report at $350,000. The 2 bedroom, 2 bath home has 2100 square feet and sat on the market for over five months, due to a high original listing price ($435K).

Other Communities:
18636 Cape Sable Drive (image at top of this article) in Lakes at Boca Raton sold for $470,000. The house has 4 bedrooms and 3 1/2 baths in 2800 square feet on two floors.
18171 181st Circle S; image by Google

18171 181st Circle S in Boca Chase sold for $383K with 4 beds and 2 baths in 2100 square feet. It took over six months to sell.
Stonebridge homes usually sell low due to the mandatory club membership. 17887 Stonebridge Court did better than usual at $330K with 4 bedrooms and 3 baths in 3100 square feet.

Boca Greens Real Estate: $255K to $495K in Early 2017


There have been 12 home sales so far in Boca Greens in 2017, with prices ranging from $255,000 up to $495,000. Despite the bottom number, most transactions were $385K or more.
The low end home is an outlier. 19622 Back Nine Drive sold for only $255K. The 2 bedroom, 2 bath home has less than 1200 square feet. That’s over 500 square feet smaller – and $70K cheaper – than the next largest home in this report. It took nearly a year to sell.
Next on the list, and still well below average, is 10191 Camelback Lane selling for $325K. The 1700 square foot home has 3 bedrooms and 2 baths and was on the market for 6 months.
Three other homes sold for just under $400K:

  • $385K – 10212 Canoe Brook Circle, 3 bedrooms, 2 baths, 2000 square feet
  • $390K – 10065 Camelback Lane, 3 beds, 2 baths, 2100 square feet
  • $395K – 10448 Milburn Lane, 3 beds, 3 baths, 2700 square feet

There’s another jump to the next group of homes, starting at $440K for 10243 Fresh Meadow Lane. The house has 3 bedrooms and 2 1/2 baths in 2300 square feet. It’s on a pie-shaped cul de sac lot with a fairly large lake view including an angle on sunset skies. This one sat on the market for over 8 months.

The two most expensive homes in this report each took 5 months to sell. At the top is 10339 Canoe Brook Circle at $495,000 with 4 bedrooms and 2 1/2 baths in 2500 square feet. The south-facing backyard includes water and golf course views.
Next at $490K, 10152 Canoe Brook Circle has 3 bedrooms and 3 1/2 baths in nearly 2900 square feet, which just sold on May 1st.
There were four other transactions over $450K:

  • $460K – 20049 Back Nine Drive, 3 beds, 2 baths, 2300 square feet
  • $483K – 10433 Milburn Lane, 4 beds, 3 baths, 2700 square feet (sold in two weeks)
  • $485K – 10434 Canoe Brook Circle, 3 beds, 3 baths, 2700 square feet
  • $485K – 19388 Cherry Hills Terrace, 3 beds, 2 baths, 2200 square feet

Need help with real estate? Call Warren at 888-733-5299 (text 518-225-3710) or just fill out the form below.