May Home Sales II: $185K to $750K

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.  So, let us now review property sales in May.

See Part One – Sales from $800K to $6.4M

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:

  • $605K – 12341 Riverfalls Court, 5 beds, 3 baths, 3250 sq.ft.
  • $590K – 21409 Crestfalls Court, 5 beds, 3 baths, 2800 sq.ft. (one floor)
  • $530K – 12372 Cascades Pointe, 4 beds, 3 baths, 2350 sq.ft.
  • $515K – 21395 Gosier Way, 4 beds, 3 baths, 2700 sq.ft.
  • $495K – 21440 Crestfalls Court, 5 beds, 3 baths, 2700 sq.ft. (short sale)

Boca Isles: $360K – $699K

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:

  • $645K – 20220 Ocean Key Drive, 5 beds, 3 baths, 2900 square feet (Boca Isles South, 1 floor)
  • $625K – 19440 Preserve Drive, 4 beds, 3 baths, 2700 square feet (North)
  • $530K – 19281 Cloister Lake, 5 beds, 3 baths, 2800 square feet (North)
  • $515K – 20190 Ocean Key, 4 beds, 3 baths, 2800 square feet (South)

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.

  • $350K – 21460 Millbrook Court, 3 beds, 2 1/2 baths, 2700 sq.ft.
  • $390K – 18269 Clear Brook Circle, 4 beds, 3 1/2 baths, 2800 sq.ft.
  • $398K – 18218 104th Terrace, 3 beds, 2 baths, 2200 sq.ft.

Boca Greens: $439K – $490K

  • $439K – 20112 Back Nine Drive, 3 bed, 2 bath, 2100 sq.ft.
  • $465K – 10070 Crosswind Road, 3 bed, 3 bath, 2250 sq.ft.
  • $490K – 10152 Canoe Brook Circle, 3 bed, 3 1/2 bath, 2900 sq.ft.

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.

  • $400K – 22225 Collington Drive, 4 bed, 3 bath, 2200 sq.ft.
  • $425K – 21910 Palm Grass Drive, 4 bed, 2 1/2 bath, 2400 sq.ft.
  • $437K – 12332 Cabot Court, 4 bed, 2 1/2 bath, 2300 sq.ft.
  • $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.

  • $355K – 11661 Timberwood Road, 4 beds, 2 baths, 2050 sq.ft.
  • $380K – 11885 Sunchase Court, 3 beds, 2 1/2 baths, 2100 sq.ft.
  • $535K – 11325 Island Lakes Lane, 4 beds, 3 baths, 2700 sq.ft.
  • $500K – 22364 Waterside Drive, 4 beds, 2 baths, 2900 sq.ft.

Mission Bay: $357K – $441K

  • $441K – 10538 Wheelhouse Circle, 5 beds, 4 baths, 3200 sq.ft.
  • $415K – 10349 Buena Ventura Drive, 4 beds, 2 1/2 baths, 2600 sq.ft.
  • $406K – 10406 Buena Ventura Drive, 5 beds, 2 1/2 baths, 2950 sq.ft.
  • $375K – 20904 Avenel Run, 4 beds, 2 1/2 baths, 2300 sq.ft.
  • $357K – 10831 Haydn Drive, 4 beds, 2 baths, 2000 sq.ft.

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.

  • $505K – 19101 Skyridge Circle, 4 beds, 4 baths, 2800 sq.ft.
  • $533K – 11554 Big Sky Court, 5 beds, 3 baths, 3000 sq.ft.

Saturnia Isles: $535K – $695K
Saturnia Isles is on the east side of 441 between Clint Moore and Atlantic. Four homes, all about 15 years old, sold there in the past month or so:

  • $535K – 15807 Menton Bay Court, 6 beds, 4 baths, 3300 sq.ft.
  • $587K – 15766 Menton Bay Court, 5 beds, 3 baths, 2900 sq.ft.
  • $625K – 9765 Napoli Woods Lane, 4 beds, 3 1/2 baths, 3700 sq.ft.
  • $695K – 9539 Barletta Winds Point, 6 beds, 4 baths, 3800 sq.ft.

Other notable sales at the high end of this report include two in The Bridges, one in Mizner Country Club, and one in Palma Vista:

  • $740K – 16854 Bridge Crossing Circle, 4 beds, 3 baths, 2600 sq.ft.
  • $725K – 8821 Valhalla Drive, 5 beds, 5 1/2 baths, 4600 sq.ft.
  • $715K – 16652 Gateway Bridge Drive, 3 beds, 3 baths, 2600 sq.ft.
  • $669K – 9737 Palma Vista Way, 5 beds, 3 baths, 3400 sq.ft.

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.

May Home Sales I: $800K to $6.4M

16031 Quiet Vista Circle in Stone Creek Ranch sold for $6.4M. Image and map data by Google.

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.
8700 Surrey Lane sold for $2.8M; image and map data by Google

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.
  • $1.2M: 17681 Middlebrook Way, The Oaks, 5 bedrooms, 5 1/2 baths, 5500 sq.ft.
  • $1.14M: 16615 Sagamore Bridge Way, The Bridges, 4 beds, 5 baths, 3900 sq.ft.
  • $1.08M: 17745 Vecino Way, The Oaks, 5 beds, 4 baths, 4450 sq.ft.
  • $1.07M: 8518 Hawks Gully Ave, The Bridges, 4 beds, 4 1/2 baths, 4300 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 sold for $995,000. Image by Google.

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.
11742 Watercrest Lane in Saturnia at $800K vs. 9488 Eden Roc Ct in 7 Bridges at $1.02M. Images by Google.

Which house do you think is a better deal?
Coming in Part Two – Homes from $185K to $750K.

Saturnia $493K to $800K for Early 2017

Saturnia entrance; image by Google

Houses in Saturnia sold for as little as $493,000 and as much as $800,000 in the first part of 2017. Saturnia is a gated community at the west end of Yamato Road, near Eagles Landing Middle School, Sunrise Park Elementary, and South County Regional Park.
There have been 15 transactions so far this year so we’ll just focus on the highlights.
Only one house sold for less than $500K – 19107 Skyridge Circle. The two-story has 4 bedrooms and 4 baths in 2800 square feet. It was on the market for over 8 months. We’re not sure why it didn’t sell quicker for more. It has a great lot and significant upgrades. A few factors may have played a role – an out-of-county Realtor, poor quality photos, and the pool deck looked dirty in the photos so maybe it just didn’t present well.

11560 Big Sky Court sold for $510K with 5 bedrooms and 3 baths in 2900 square feet. It has no waterfront and no pool, and the kitchen and bathrooms look a bit dated.
19115 Two River Lane also sold for $510K despite being a much larger home, with 5 beds, 3 baths and 3600 square feet. This one took over 5 months. The lot has a little waterfront but isn’t the best location, and the home may have needed some updating and other TLC.
In a stark difference, the house next door sold for $635K despite having no waterfront. 19107 Two River Lane has 5 beds and 4 baths in just over 4000 square feet. From the photos the house had some upgrades but the bathrooms looked dated.
At the high end, 11742 Watercrest Lane sold for $800K even. This large home has 6 bedrooms and 4 1/2 baths in over 4700 square feet on a great lot.
Two other large homes sold for close to $750K. 19101 Stream Side Court sold for $748,000 with 5 beds and 4 baths in 4200 square feet, with a luxurious interior and gorgeous lake views from the backyard and the second floor balcony. Meanwhile 19229 Natures View Court sold for $745K with 5 bedrooms and 4 1/2 baths in nearly 4700 square feet.
Thinking about buying or selling a house in West Boca?
Give Warren some brief information and he’ll contact you.

[contact-form][contact-field label=’Phone or E-mail’ type=’text’ required=’1’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]
All three of these look like bargains compared to some of the more expensive neighborhoods east of 441, coming in between $160 and $180 per square foot.
Other houses sold since the beginning of 2017 include:

  • $532K – 11554 Big Sky Court, 5 beds, 3 baths, 3000 square feet
  • $560K – 19204 Skyridge Circle, 5 beds, 3 baths, 3350 square feet
  • $585K – 11762 Preservation Lane, 5/3, 3300 sq.ft. (sold in just over two weeks)
  • $592K – 19519 Estuary Drive, 4/2.1, 3400 sq.ft.
  • $600K – 11898 Preservation Lane, 4/3, 2800 sq.ft.
  • $625K – 19540 Saturnia Lakes Drive, 4/3, 3150 sq.ft.
  • $640K – 11821 Bayfield Drive, 4/3, 3050 sq.ft.
  • $660K – 19480 Saturnia Lakes Drive, 5/3, 3600 sq.ft.

Home Sales Struggle in The Bridges

Entry to The Bridges; image by Google

Looking at first quarter transactions in The Bridges (Lyons Road north of Clint Moore), we are seeing home sales struggle at best. Nearly new homes sold for little increase and in some cases at a substantial loss. Meanwhile the builder sold three homes at relatively low prices, undercutting existing homes.
Our data show 11 transactions in The Bridges in the first three months of the year. At the low end, 16903 Bridge Crossing Circle sold for just under $640K, barely over the original purchase price of $639K in August of 2014. The house has 3 bedrooms and 3 baths in 2600 square feet of space, one of the smallest homes in the neighborhood. It took 8 months to sell.

8159 Hutchinson Court sold at a loss, $714K down from $750K in 2015. The house has 4 bedrooms and 4 baths in 3500 sqft. This one took over a year to sell.
Some homes did show price increases. 8190 Banpo Bridge Way sold for $955K, up from $850K in 2015, though the house was marketed as “loaded with costly upgrades”. It has 4 bedrooms and 5 baths in 3800 sqft.
16659 Ambassador Bridge Road went up to $976K from $849K in 2014. The house has 4 bedrooms and 5 baths in 3900 square feet
Three homes next to each other on Lewis River Road were sold by the builder. 8526 Lewis River Road sold for $899K with 4 bedrooms, 4.1 baths in 4200 sqft.
8520 Lewis River Road sold for $988K with 5200 square feet. And 8532 Lewis River Road sold for only $899K at roughly the same size – that’s only $173 per square foot and seems well below market value.
These may have been the among the last new homes sold. The satellite image shows two of them (8520 and 8526) as a parking lot, and perhaps 8532 was a model home.
Only one home sold for over $1M. 8776 Sydney Harbor Circle sold for $1.135M. The house has 5 bedrooms and 7 1/2 baths in 5300 square feet. The lot doesn’t appear to have anything special about it. The buyer is the CFO of a “small cap” publicly traded technology company and may have paid for substantial upgrades.
With new large homes in The Bridges selling this low, we expect continued pressure on home prices in the low seven figures in nearby neighborhoods like The Oaks and that may filter down to neighborhoods with homes in the high six figures like Saturnia.

Saturnia Prices Flat

19551 Saturnia Lakes Drive has been on the market for well over a year but has not sold yet. Currently listed at $850K, the house has 5 bedrooms and 4 1/2 baths in over 4700 square feet. It’s a bargain compared to the house that sold next door (below). Call Warren at 888-733-5299 if you want to see it. Image copyright Warren Redlich 2016.

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.
19557 Saturnia Lakes Drive was the largest Saturnia transaction in 2016. The house sold for $801,500. The ranch home has 4 bedrooms and 3 baths in 3200 square feet. The house has major upgrades and the price works out to nearly $250/sq.ft., far more than the community average. Image and map data by Google

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.
19084 Skyridge sold for $455K. The four bedroom, three bath house has just over 2600 square feet of living space. Image and map data by Google.

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.
Saturnia satellite image and map data by Google.