Saturnia continues to be a luxury buyer’s bargain. The average price through June of this year fell to $619,000, down from $630,000 in 2017 and $638,000 in 2015. The first half of 2018 saw an increase in the pace of transactions with 21 homes sold. This is on pace for 42 transactions for the full year, up from 33 in 2017 and 23 in 2016. The community is now slightly more saturated than before with 14 homes listed, which is 3.4% of the community.
Three homes sold for over $700,000, while only one sold below $500K. As usual for Saturnia most of the higher prices were for houses over 4000 square feet. The highest price was $735,000 for 19329 Skyridge Circle, a 5-bedroom, 4-bath in 4100 square feet over two floors that sold in just two weeks. It’s gorgeous. On the outside it has an extra-large backyard thanks to a large lot (2/5 or 0.4 acre) and large covered patios on both floors overlooking the swimming pool and hot tub. Inside has all the right touches including a loaded kitchen – extra large refrigerator, double oven, all in stainless with granite and upgraded tile floors.
Not far behind was 19534 Saturnia Lakes Drive, selling for $730,000 with a much larger 4700 square feet. This is another gorgeous house with an over the top backyard including outdoor kitchen and an amazing pool with waterfalls and a slide.
Both of those homes sold in less than a month. By contrast 11755 Bayfield Drive is smaller and took over 7 months to sell, but the price of $720,000 for 3500 square feet was a better deal for the patient seller. The house does not have all the features of the two others, but it is on one floor and has a lake view.
A total of 14 homes sold for $600,000 or more, all with at least 3100 square feet.
Most of the homes selling below $600,000 were 2700 square feet or less, though 11747 Bayou Lane sold for $545,000 with over 3300 square feet. This may be another example where hiring Miami-based realtors did not help the seller. This was the third listing since it first went on the market in 2016, all three with Miami realtors. It took about 18 months to finally get it sold and the price was well below market value, despite extensive renovations.
At the low end, 19101 Skyridge Circle sold for $515,000 with 2800 square feet. 19150 Skyridge Circle sold for $500,000 even with 2700 square feet, and 19681 Estuary Drive was the bottom at $465,000. All three are four-bedroom models.
There are some positive signs in Saturnia but the average home price in Saturnia fell slightly to just under $630,000 for the year 2017, down from $636,000 in 2016 and $638,000 in 2015 and 2014. On the bright side only one house sold for less than $500,000 and just barely at $493K. The lowest price in 2016 was all the way down to $455K with two others under $500K. See our 2016 Saturnia summary. Pressure from new homes in developments like The Bridges and Seven Bridges has increased supply in this segment, keeping home prices from rising for larger single family homes. The Boca Falls 2017 average was also down a little.
Other positive signs include no REO or short sale transactions, and a higher volume with 33 homes sold in 2017, up from 23 in 2016. Some listings failed with eight canceled and ten expired. Also on the negative side, the average price fell in dollars per square foot. In 2016 it was up to $188 per square foot, but in 2017 it dropped to $174 per square foot, well below the 2015 number.
The ten highest prices were large houses over 4000 square feet. 19498 Saturnia Lakes Drive got the biggest price with 6 bedrooms and 4 1/2 baths in 4700 square feet at $850,000. One other sold at $800K and six more sold in the $700s.
Four houses sold near $500K with 19107 Skyridge Circle the lowest at $493,000, and the same 4-bedroom 2800 square foot model next door at 19101 at $505,000. Two 5-bedroom models sold for $510,000, one of them much larger at 3600 square feet.
The biggest apparent bargain of 2017 was 19528 Saturnia Lakes Drive, a 4700 square foot house with 6 bedrooms and 4 1/2 baths that sold for only $635,000, or $133 per square foot. This was sold by an investor who acquired the house out of foreclosure for $545,000. No other house sold for less than $140/sq.ft. The best seller price per square foot was 11898 Preservation Lane, a 2800 square foot 4-bedroom that sold for $600,000, or $214 per square foot. Three other houses in Saturnia sold for over $200/sq.ft. and three more sold for over $190/sq.ft.
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.
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).
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 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.
In Part Two of reviewing sales in May, we look at houses that sold for less than $800K. This is for homes west of the Turnpike (as far north as Atlantic) with over 2000 square feet of living space. Most of these transactions were west of US-441 and south of Clint Moore.
Boca Falls: $473K to $721K
21351 Falls Ridge Way in The Estates sold for $721,000 after four months on the market. The large home has 7 bedrooms, 4 full and 2 half baths in nearly 4600 square feet, and 4 garage spaces. It’s on a corner lot with no lake view. At $158 per square foot it looks like a bargain though the house could use some updating in the bathrooms.
Also in The Estates, 21278 Falls Ridge Way sold for $590K after just 4 days on the market. The 5 bed, 3 bath house has just under 3200 square feet of living space on one floor.
The low end for Boca Falls was $473K for 12336 Antille Drive in the Cascades subdivision. The 4 bedroom, 3 bath house has nearly 2800 square feet on two floors, with no waterfront and no pool.
Others in Boca Falls include:
10885 Bal Harbor Drive in Boca Isles South sold for just under $700,000. The 5 bedroom, 4 bath home in 3300 square feet has many upgrades including a circular driveway, gorgeous pool deck and high end kitchen.
19916 Dinner Key Drive sold for $360K with 4 beds and 2 baths in 2300 square feet. The smaller home needs updating and the lot backs up to the road noise from Cain Blvd.
Others in Boca Isles:
Boca Chase: $350K – $410K
18348 Coral Chase Drive sold for $410K with 4 bedrooms and 2 1/2 baths in 2700 square feet, including a large second floor balcony overlooking the backyard pool and lake view.
Boca Winds: $400K – $510K
12737 Tulipwood Circle sold for $510K. The house has 5 bedrooms and 2 1/2 baths in 2900 square feet, including a lake view, small backyard pool, and recent updates to the kitchen and bathrooms.
All five Boca Winds homes in this report have water views.
$495K – 22313 Vista Lago Drive, 4 bed, 3 bath, 2700 sq.ft.
Loggers’ Run: $355K – $750K
21406 Sweetwater Lane sold for $750K. The renovated 29 year old home has 5 bedrooms, and 4 baths in 4450 square feet, mostly on one floor on a 3/4 acre lot. There is a 550 square foot bonus room on the second floor.
Saturnia: $505K – $800K
In Part One we mentioned one Saturnia home that sold for a bargain $800K with 4700 square feet. An even bigger bargain was 11845 Bayfield Drive at $690K with 5 beds, 4 1/2 baths also in 4700 sq.ft. While the listing does not indicate short sale or REO, we do think it was some form of distressed sale.
In the $400K range, 22329 Rushmore Place sold for $485K in Lexington Estates, with 4 bedrooms and 3 baths in 3000 squre feet. At the same $485K, 22486 Martella Avenue in Boca Rio has 4 beds, 3 baths and 2400 sq.ft.
In Timbers of Boca, 21131 White Oak Ave sold for $434K with 4 beds and 3 baths in 2100 sq.ft.
Moving into the $300K range, two homes sold in Escondido. At $399K, 8769 Escondido Way has 3 beds and 2 baths in 2100 sq.ft., and 21150 Escondido Way with an extra half bath sold for $370K.
In Stonebridge, 10562 Harich Lane sold for $352K with 3 beds, 3 baths and 3100 square feet. Three other homes sold in Stonebridge between $260K and $290K.
Two homes sold in Boca Woods. 11037 Clover Leaf Circle sold for just $185K with 3 beds and 2 baths in 2000 sq.ft. 11116 Boca Woods Lane sold for $250K with 3 beds, 3 baths, and 2700 sq.ft.
We reviewed over 80 single family home sales (west of the Turnpike up to Atlantic in Delray) from May 1 into early June, restricted to homes with 3 or more bedrooms and at least 2000 square feet of living space. This is Part One of that review, covering homes selling over $800,000. All these homes were in zip codes 33498, 33496, and 33446, mostly in The Bridges, Seven Bridges, and The Oaks. Click here for Part Two.
At the high end was 16031 Quiet Vista Circle in Stone Creek Ranch, on the west side of Lyons just north of Seven Bridges. The nearly 14,000 square foot house with 10 bedrooms and 10 1/2 baths sold for $6.4 million. The seller was billionaire Steven A. Cohen. The buyers are Cynthia Williams and her husband Ronald “Ron” Williams, former CEO of Aetna, with an estimated net worth close to $200M.
There was one other transaction for over $2M. 8700 Surrey Lane in Horseshoe Acres (north of Clint Moore, east of Lyons) sold for just over $2.8M with only 5 bedrooms and 5 1/2 baths in 6000 square feet.
Nine other homes sold for $1M or more, in The Bridges, Seven Bridges, The Oaks, and Long Lake Estates. Most of these sold for between $215 and $250 per square foot, with two in The Bridges going for closer to $300 per square foot.
The smallest of these was 8510 Hawks Gully Avenue, with 3 bedrooms and 3 1/2 baths in 3350 square feet. It sold for $1.1M ($328/sq.ft.) in just 17 days on the market. The house is on a corner lot with no waterfront and has significant upgrades including a gorgeous pool, but it still seems like a hefty price for what the buyer got. The house was previously purchased for less than $1M in 2015.
The best bargain of the million dollar homes was probably 8646 Lewis River Road, a 5200 sq.ft. 5 bedroom with a partial lake view which sold for just over $1.1M, or $216/sq.ft.
Others sold include:
$1.43M: 18529 Long Lake Drive, Long Lake Estates, 6 bedrooms, 4 1/2 baths, 5800 sq.ft.
$1.35M: 16844 Strasbourg Lane, Seven Bridges, 5 bedrooms, 6 full and two 1/2 baths, 5500 sq.ft.
$1.02M: 9488 Eden Roc Ct, Seven Bridges, 5 beds, 6 baths, 4700 sq.ft. (new home)
$800K – $1M
Six homes sold for prices between $800,000 and $1,000,000, including three in The Oaks, one in Mizner Country Club, one in Saturnia, and one in Rio Poco.
16135 Rio Baile in Rio Poco (west side of 441 across from Saturnia Isles) sold for $995K. The house has 6 bedrooms and 5 1/2 baths in 4200 square feet on a one-acre lot.
What would seem to be one of the biggest bargains was 17891 Monte Vista Drive in The Oaks. Selling for $880K, the house has 7 bedrooms, 6 full and 2 half baths in 5500 square feet. Those familiar with The Oaks will guess correctly that the house has a Chinese drywall history. Purchased in 2007 for $1.3M, it was foreclosed in 2013 and then sold to an investor for $751K. Considering the cost of capital and other expenses, the investor probably lost money on this deal.
Others selling at $800K or more include:
$860K: 17978 Lake Azure Way, The Oaks, 4 beds, 5 1/2 baths, 4300 sq.ft.
$832K: 17689 Lake Azure Way, The Oaks, 3 beds, 3 full and 2 1/2 baths, 3400 sq.ft.
$800K: 16367 Braeburn Ridge Trail, Mizner Country Club, 4 beds, 3 1/2 baths, 3550 sq.ft.
$800K: 11742 Watercrest Lane, Saturnia, 6 beds, 4 1/2 baths, 4700 sq.ft.
It’s an interesting question comparing older and newer homes and that’s illustrated by two of the above transactions. In Saturnia, 11742 Watercrest Lane was built in 1999 and seems a relative bargain at $800K for a two-story home with 4700 square feet. While it could use updating in a few places the house has some very nice features including a gorgeous kitchen, a downstairs master bedroom suite and a swimming pool. By comparison in Seven Bridges, 9488 Eden Roc Court sold brand new for just over $1.02M, also with 4700 square feet. The Seven Bridges buyer paid an extra $224,000 for a house that is narrower on a smaller lot with no pool, and the master bedroom is on the second floor. Seven Bridges also has substantially higher HOA fees at close to $500/month vs. $320/month in Saturnia.
Which house do you think is a better deal?
Coming in Part Two – Homes from $185K to $750K.