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.
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.
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.
Thirteen homes sold in the gated Lexington Estates in 2017 with prices ranging from $345,000 up to $489,000, with an average transaction price of $429,000.
The lowest price was for 10064 Umberland Place, a smaller 3 bedroom with 2100 square feet at $345,000. Three other mostly small models sold for between $380K and $395K.
Three larger homes sold for between $480K and $489K, with the top price going to 22311 Rushmore Place, a 4-bedroom with 2900 square feet.
On average homes sold in Lexington Estates in 2 months or less, though a couple took over six months and six of them sold in less than a month, and four of those in less than a week.
Paraiso – Allegro
Six homes sold in Paraiso (also referred to as Allegro), a small gated community of single family homes just to the south of Lexington Estates. Three homes sold for under $300K (two of them REO) with the lowest being an REO auction for 10266 Allegro Drive at $264K for a 1450 square foot 3-bedroom. It actually sold for more than the list price. Three more sold for over $300K, the highest at 22456 Overture Circle. That 4 bedroom, 2 1/2 bath home with 2000 square feet sold for $384,000.
This reports includes homes over 2000 square feet in zip code 33428, plus the northern part of Mission Bay and Loggers’ Run. We covered smaller homes in an earlier report. Zip code 33498 will be up next. Boca Falls saw three transactions since early August.
The highest price was 12387 Clearfalls Drive in Mystic Bay at $615,000. It’s a 5 bedroom, 3 bath house on one floor. While the location is not particularly special, the house features substantial upgrades including marble floors, a pool and a whole house generator. The listing also had excellent photography. 12265 Rockledge Circle in the Mystic Cove subdivision sold for $577,500. While roughly the same size as the above, it has four bedrooms and substantial waterfront, though no pool. 12806 Hyland Circle in Emerald Isles sold for $535K with 5 bedrooms and 3 baths in 2800 square feet on two floors with no waterfront. Loggers’ Run
22188 Waterside Drive was the biggest transaction in zip code 33428 at $690,000 for 5 bedrooms, 2 and a half baths in 3600 square feet. The location includes waterfront and is a short distance to the middle school, Publix, and Windjammer Park. On the north side of Glades in the gated Island Lakes, 11818 Island Lakes Lane sold for $405K with 4 beds, 2 baths and 2300 square feet. 21799 Little Bear Court in Cimarrron sold for $410K with 3 bedrooms and 2 1/2 baths in 2600 square feet.
21550 Woodchuck Court, also in Cimarron, sold for $395K with 4 beds and 2 baths in 2200 square feet. 21091 Woodspring Avenue in Country Landing 3 sold for $395 with 4 beds and 2 baths in just over 2000 square feet with substantial upgrades. Two doors over, 21071 Woodspring Avenue sold for a much lower $323K with a very similar size. The listing indicates the house was a short sale that needed “TLC”. Boca Winds
22095 Altona Drive sold for $435K with 4 beds, 3 baths and just under 2300 square feet. The house was in good shape with some upgrades and has an excellent location with a lake view backed up to the future Fran Reich Preserve.
Also selling for $435K was 12490 Baywind Court with 4 beds and 3 baths in 2200 square feet. Situated on a cul de sac this house has tremendous waterfront and great lake views. This is another listing with great photography including drone shots but unfortunately the interior photos showed off the need for upgrades. Two houses sold for $400K even, both with waterfront. 12658 Maypan Drive has 3 bedrooms and 2 1/2 baths in 2100 square feet. 21943 Palm Grass Drive also had 3 beds and 2 1/2 baths with a floor plan only slightly larger. Landlocked but on a cul de sac, 22146 Candle Court sold for $352,500 with 4 bedrooms and 2 baths in 2000 square feet. Lexington Estates 10076 Umberland Place sold for $480K. The house has 5 bedrooms and 3 baths on 2 floors with 3200 square feet. One of the smaller models in Lexington Estates, 22138 Cressmont Place sold for $395K with 3 beds and 2 baths in 2100 square feet.
Mission Bay 10781 Santa Laguna Drive sold for $395K with 4 beds, 3 baths and 2300 square feet. It’s on the south side of Glades in 33428. On the north side in 33498, 20508 Sausalito Drive sold for $450K with 3 bedrooms, 2 1/2 baths and 2500 square feet. 20295 Vera Cruz Lane had 4 beds and 2 1/2 baths in 2250 square feet and sold for $432K. 10381 Buena Ventura Drive sold for $417K with 4 beds, 2 1/2 baths and 2500 square feet. Boca Woods There were three promising sales in Boca Woods with higher prices than we are used to seeing. 11044 Boca Woods Lane selling for an unusually high $325K with 3 bedrooms and 2 baths in 2000 square feet. Usually the golf club requirements drag prices down but this home sold well and relatively quickly in under two months. Two others sold for $290K, each after 5 months on the market: 10935 Boca Woods Lane with 3 beds and 2 baths in 3000 square feet, and 10759 Boca Woods Lane with 3 beds and 3 baths in 2400 square feet. It drops from there with 10718 Boca Woods Lane selling for $215K after well over a year on the market. The house has 3 beds and 2 1/2 baths in 2400 square feet. And at the bottom, 10376 Sunset Bend Drive sold for $100K with 2 bedrooms and 2 baths in 2000 square feet. Others: Two homes sold on Brookville Lane in Meadow Lakes: $370,000 – 10266 Brookville Lane, 4 bedrooms, 2 1/2 baths, 2300 sq.ft. $359,500 – 10181 Brookville Lane, 4, 2 1/2, 2700 sq.ft. And 23097 SW 59th Way in Sandalfoot Cove sold for $343K with 4 beds and 2 baths in 2250 square feet.
Houses in Lexington Estates sold for more in 2016. The average transaction price rose to $459,000* from $427K in 2015. This is a little misleading as the homes sold in 2016 were larger on average. Measured in dollars per square foot the average works out to $167/sq.ft., which is a very slight increase over 2015 and 2014.
Transactions ranged in price from $377K* for a 2100 sq.ft. 3-bedroom house up to $515K for a nearly 3000 sq.ft. 4-bedroom house. The best “bargain” in the neighborhood was 22147 Braddock. It sold for $512K with 5 bedrooms in 3300 square feet, including waterfront, a pool, 3-car garage and numerous upgrades in immaculate condition, all at only $153/sq.ft.
Lexington Estates is a gated community with just over 200 single family houses on the west side of US-441 (aka State Road 7) south of Palmetto Park Road. The location is convenient for commuters and shoppers but may be perceived as uncomfortably close to lower priced neighborhoods nearby.
*Excluding foreclosure-related transactions. With those included the lowest transaction for 2016 was $327K and the average was $446K.
The Mission Bay development consists of over twelve hundred homes within 10 “villages.” Certain villages have their own sub-associations. The community is just 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. There are swimming pools, tennis leagues, social events and more. HOA fees vary.
The Mediterranean style home at 10968 La Salinas Circle sold for $410,000. It has 4 bedrooms and 3 full bathrooms in 2261 sq. feet of living space. Special features include an updated kitchen with maple wood cabinetry, granite counter tops and new stainless steel appliances. The master bedroom suite has a double door entry and 2 large walk in closets. French doors lead to a screened in patio and pool. There are no rear neighbors. Built in 1993, it was purchased for $184,000 in 1995. Lexington Estates is a gated community located on Palmetto Park Road, west of 441. Amenities include basketball and tennis courts as well as a community pool and picnic area. Students attend Coral Sunset Elementary School, Loggers Run Middle School and West Boca Community High School.
The contemporary ranch home at 10300 Lexington Estates Blvd sold for $442,000. It has 4 bedrooms and 3 full bathrooms in 2762 sq. feet of living space. The home has a 3 way split bedroom floor plan, high ceilings and lots of natural light. The kitchen has granite counter tops and stainless steel appliances. There is a new washer and dryer. A special feature is the custom built cherry wood bookcases from floor to ceiling in the den. The outdoor entertaining area includes a screened in patio and pool and a fence backyard. Built in 1996, it was sold for $225,200 in 1997. The traditional two story home at 10114 Lexington Estates sold for $465,000. It has 5 bedrooms and 3 full bathrooms in 2964 sq. feet of living space. The master bedroom and a guest bedroom are located on the ground floor. The custom kitchen has spacious counter tops, wood cabinetry and designer accents. The bathrooms have all been updated. Additional renovations include 18 inch tile and beautiful wood laminate flooring. Built in 1992, it was sold for $585,000 in 2005. Boca Reserve is a gated community located off Palmetto Park Road, west of 441. The community has landscaped walkways and is close to shopping. Students go to Loggers’ Run Middle School and West Boca High School. We previously wrote about the development in 2014 and earlier in 2013.
The large ranch home at 12257 Boca Reserve Lane sold for $637,500. It has 5 bedrooms and 3.1 full bathrooms in 2979 sq. feet of living space. There is carpet and ceramic tile throughout. The custom kitchen opens to the family room. It has wood cabinets, granite counters and stainless steel appliances including a double wall oven. The master bath has dual sinks with separate shower and tub. The home also boasts a 3 car garage. The home was built in 2014 and originally purchased for $583,320. Boca Grande is located on Palmetto Park Rd West. The community features large homesteads with room for stables and horses.
The large traditional home at 21640 Cartagena Drive sold for $1 million. It has 4 bedrooms and 4.1 bathrooms in 4363 sq. feet of living space. The open floor plan has lots of room to entertain and plenty of natural light. The chef’s kitchen has an island, pantry and breakfast bar. There is a grand entry, custom bar and soaring wood ceilings. The great room has a fireplace surrounded by stone. The backyard boasts a built in grill and screened in patio with a pool. This home is situated on 5 acres with a 4 stall barn and mature trees. It was purchased for $190,000 in 1985.