While 2021’s pandemic-induced home buying frenzy has largely leveled out in many parts of South Florida, there’s one Boca Raton private club community that hasn’t slowed down at all. Boca West’s recognition by Forbes as one of the top 14 country clubs globally along with its newly expanded Lifestyle and Racquet Center has kept the community in the spotlight. Now an average of just 50 of the 3,500 homes in the community are available for sale, a shockingly low number for any Florida development.
Boca West Realty, the exclusive on-site real estate firm, has released its Market Report covering its fiscal year from October 1, 2022, to September 30, 2023, providing valuable insights into the real estate market’s dynamics. This report sheds light on key real estate trends that both buyers and sellers should keep an eye on as we enter the last month of 2023. Let’s take a closer look.
Lifestyle & Racquet Center Leads to Record-Breaking Sales Year
The excitement surrounding Boca West’s new $45 million expansion to the Lifestyle & Racquet Center is electric, and homebuyers are scrambling to get in before the Club’s grand opening. Although summer is typically perceived as a “slow season” for Florida country clubs, Boca West Realty has witnessed a remarkable increase in demand that shows no signs of slowing down. In September, the firm achieved eight closings in 10 days, resulting in an impressive $10 million in sales. Furthermore, for the 2023 fiscal year, annual Boca West Realty sales exceeded $100 million.
The new Aquatics Center will feature five pools, two activity lawns, and a versatile event space. Inside, the Lifestyle & Racquet Center will feature a lavish, two-story lobby, multiple rooftop terraces, game rooms, and a billiards room. The new Fitness & Wellness Center offers cutting-edge technology for Spin, aerobics, Pilates, and core training, with on-site personal trainers and physical therapists providing evidence-based therapy. The Lifestyle & Racquet Center also brings Boca West’s total dining venues to a perfect 10, including eight dedicated venues (restaurants, bars, and lounges), a pop-up themed food trailer, and a grab-and-go market that rivals the nation’s top restaurants. Boca West residents also have access to four championship golf courses, 20 Har-Tru tennis courts, 14 pickleball courts, and over 600 annual events.
Only 47 of 3,500 Homes Currently Available for Sale
The upcoming opening of the Lifestyle & Racquet Center has significantly increased demand for Boca West. Although Boca West features 3,500 homes throughout its 55 unique neighborhoods, there are currently just 47 active listings, with even fewer options for seasonal rentals. Homes hitting the market are selling quickly. Boca West Realty witnessed the average days on the market decrease by 25% in fiscal 2023, from 77 days to 58 days. The limited available inventory has also presented challenges, with many homes being swiftly snapped up by current Members and prospective homebuyers eager to embrace the Nation’s #1 Private Residential Country Club Lifestyle. Notably, Boca West’s single-family homes experienced a 54% decrease in days on the market year over year, while days on the market for condominiums decreased by 19% and townhomes by 28%.
Renovator Program Provides Compelling Value
While inventory continues to be limited, the quality of the available homes has continued to increase. Prior to the formation of Boca West Realty in 2019, many homes in the community were outdated and required major renovations. With the revolutionary Renovator Program, a team of renovators has transformed select homes into modern, low-maintenance enclaves at a compelling value. This has not only addressed the renovation issue but also driven an increase in property values. Last fiscal year, the average sales price in Boca West has risen to $615,826, marking a significant 24% increase from 2022. Condominium prices are up by 12%, single-family homes by 12%, and townhomes by 33%. The program benefits both homebuyers seeking move-in ready residences with today’s most sought-after features and existing residents enjoying boosted neighborhood comparative values.
Move-In Ready Residences in Boca West
While the Renovator Program has driven significant energy to Boca West, the renovated homes in combination with an exceptional private club Membership have created a compelling value. These fully renovated residences include new flooring, appliances, windows, and stylish interior designs. Plus, they are conveniently located within walking distance of the new Lifestyle & Racquet Center scheduled to open this fall. Here are just a few of Boca West’s latest listings:
The On-Site Real Estate Market Experts
In just four short years, the dedicated team of professionals at Boca West Realty has become the market leader for Boca West. The firm is dominating the market, having been involved in 69% of all real estate transactions in Boca West last fiscal year. Whether buying, selling, or leasing a home within Boca West, the firm is on-hand daily as a resource for potential new Members and homebuyers. As the on-site experts, Boca West Realty is available to assist homebuyers with finding their ideal residence, with timely releases of new listings as they become available. Details on Club Membership and the extensive amenities of the community are showcased through an interactive sales presentation at the firm’s Welcome Sales Center located at 7763 Glades Road in Boca Raton.
To get the details on the Boca West lifestyle, request a complimentary copy of Boca West Life Magazine. To stay updated on real estate information, register your interest at BocaWest.com or contact Boca West Realty at 561.665.5855 to schedule a private Club tour or real estate preview.
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