Have you ever pictured yourself in an exotic location by the beachside, lying down with a cocktail in your hand while the sunshine embraces you with its warmth? Have you seen yourself walking along the coastline in the afternoon sun, surrounded by palm trees and enjoying the beautiful view along with your family or friends, having the time of your life? That sounds like the perfect summer vacation, but have you ever thought about living in such a place.
The state of Florida is the place where you can find such a location, and the housing market in the Sunshine State is mature and growing more every year. Also, real estate might be highly-priced compared to some other places, but it is worth the extra dollars for many people. South Florida is home to the Miami metropolitan area, the seventh-largest metropolitan area in the United States, and Boca Raton is part of it.
Boca Raton, also known as the city of affluence, is home to some of the most beautiful homes in the state of Florida, spanning from luxury living communities and waterfront estates to great neighborhood living with “A” rated school districts. Boca Raton is considered the Beverly Hills of Florida with beach resorts, country clubs, and five-star restaurants and shopping. Boca Raton’s real estate has plenty to offer for each family member, no matter what style of living you are looking for. If you think Boca Raton is the ideal place for you to live in and you are looking for a safe place like Boca to relocate, make sure you hire one of the top realtors in Boca Raton FL, for an excellent moving experience.
Boca Raton, home of some renowned celebrities
Many notable athletes and celebrities are proud to call Boca Raton their home. Bon Jovi, a famous member of the Songwriters Hall of Fame and well respected artist, is a notable resident of Boca Raton. The New Jersey native found his heart in the beautiful, sunny city of Boca Raton, and has called it home since.
Another singer/songwriter heartthrob, Ariana Grande, got her start in Boca Raton, Florida. Growing up in the sunshine state, she attended North Broward Prep School, one of the many amazing educational facilities known to Boca Raton. Families living in Boca Raton can ensure their students are getting some of the best education Florida has to offer. As a community, Boca Raton prides itself on great schools with education that consistently ranks as the highest performing among Florida school districts.
Comedian and actor Adam Sandler, well known for his start in Saturday Night Live, loves Boca Raton Florida so much that he recently bought his mother a home in Boca Raton as her primary residence. Sandler’s family has also chosen to live locally, enjoying the luxury-living options Boca Raton has to offer.Adam Sandler’s condo home is 2,600-square-foot. It was built originally in 1981 and it has 3 bedrooms and 3 bathrooms.
House prices in Boca Raton, Florida
As far as housing in Boca Raton goes, many estates and mansions have been built to reflect the high value of the real estate market in the area. The median home value of Boca Raton was about $344,000 at the end of 2019, and the prices for houses have gone up by 1.5% from 2018 to 2019. At the time, house prices ranged from $655,000-$966,000 for 18% of homes listed, 8% of them were in the $966,000-$1,288,000 range and 11.9% were above the $1,288,000 range.
Unexpectedly, many thought that the Boca Raton housing would take a turn for the worst in 2020 as the pandemic hit, and many people were more concerned about keeping Covid-19 out of their homes. From 2019 to 2020, the home values in Boca Raton have increased by more than 7%, and with the housing inventory in the area, things are not showing signs of slowing down any time soon.
Even though Boca Raton is a city known for its extravagant lifestyle with luxury living conditions catering toward middle and upper-class people, not much has changed for the area’s housing trend. Since not many people can afford to live in one of Boca’s communities, you would expect home prices to go down with the coronavirus outbreak. However, statistics indicate the opposite, and the home price growth in 2020 was higher than many other years before it.
Will things change in 2021? We’ll have to wait and see, but first, let’s learn more about the city’s communities.
Most expensive neighborhoods in Boca Raton
Boca Raton is home for some of the most expensive neighborhoods but also the most highly rated communities that scream opulent and catch the eye of any home buyer that is aiming toward the top end communities. Here are some of the waterfront and gated communities that share all this luxurious features:
- Woodfield Country Club – This is one of the most affluent communities not only in Boca Raton but also in South Florida, a premier gated community that comprises around 1,300 houses with single family residences, townhomes and mansions. Here you can find homes with prices ranging from $1 million to more than $15 million.
- Fieldbrook estates – This community is an impressive location near Mizner Park that features luxury houses with prices ranging from $1 million to $5 million and this community also features a golf course, an impressive clubhouse and a lake.
- Le Lac – A gated community that has multi-million dollar houses within its borders, with 32 private estates that are priced between $3 million and $7 million. This community screams luxury and it’s breathtaking landscape adds to the opulents of the place. Also this community offers amenities that increases the reputation of this place with swimming pools, docks, boathouses, fitness centers, tennis courts and a lot more. Even though the community is known for its lavish and luxurious lifestyle, some of your favorite weekend activities are cost-free.
- Boca Bath and Tennis – Another gated community that offers the exclusivity and the feel of a rich and luxurious community but without the big, bold manions, but rather reasonably sized houses that are priced at around $1 million range.
- Les Jardins – Housing in this area reflects the classic feel of a residential structure built in the 80’s or late 90’s, and house prices here range from $1.3 million to $2.4 million.
- St Andrews Country Club – A country club community that created a championship golf course that was designed by a famous pro golfer, a 18-hole Arnold Palmer course. It is the only community with two 18-hole golf courses and housing variety in this area offers people plenty of options to choose from with houses that have starting prices at around $500,000 to a high of $10 million for mansions.
- Le Rivage – Not being a community as big as some of the other gated communities Le Rivage is certainly one of the most exclusive and opulent neighborhoods in Boca Raton. With 18 luxurious lakefront estate homes the prices for these residences go as high as $4 million.
- The Oaks – With the world-class dining experience offered by Boca Ration, all that is left to do is find yourself a nice home in the upscaling neighborhood called “The Oaks”. A country club community aiming to offer its residents the feel of a good life with a relaxed atmosphere and access to fitness centers and a spa, 12-tennis court complex, and enclave’s clubhouse. House prices here are around the $1 million range.
Boca Raton waterfront housing
Since Boca Raton is a coastal destination with beautiful beaches and breathtaking beachside views, waterfront real estate is an important aspect of Boca Raton. Waterfront houses in Boca have a rich history with diverse architectural inspiration such as Mediterranean, Key-West style, Colonial, and Contemporary. These waterfront estates are impressive with private large gardens that have big entranceways, chef kitchens with top end appliances, marble/stone flooring, fitness rooms, private home theaters, fitness rooms and resort-style swimming pools. The most exclusive waterfront areas are conveniently located to offer its residents a beautiful tropical landscape with deep water canals and verdant foliage. Coastline destinations are well known for their waterfront properties. If you don’t know where to find some of the best places to buy waterfront properties, look no further; Boca Raton is the place for you. Some of these elite communities are as follows:
- The Sanctuary – A yachting community located in East Boca Raton, it’s a gated community that impresses with it’s large, spacious estates and also it is well known for being unique because of it’s awareness around wildlife and they preserve it well.
- Royal Palm Yacht & Country Club – a luxurious affluent country club in Boca, standing across the Intracoastal Waterway, this community features opulent and magnificent estates with house prices that range from $1 million to more than $15 million. The community also features Jack Nicklaus’ Signature Golf Course, a Yacht Club with gourmet restaurants, a fitness center and tennis courts.
- Boca Marina Yacht Club – situated on the west side of the Intracoastal Waterway in Boca Raton, this community offers homes that are populating the beautiful waterfront retreat with some of the most luxurious estates .
- Bel Marra – One of the most desirable waterfront communities for people who are into boating, this community has been built around wide canals that offers easy access to the Intercoastal Waterway and the Atlantic Ocean. Homes in this area range from single-family estate homes to grand exquisite mansions and houses in this area come with private docking stations.
- Pot La Mar – located along the Intracoastal Waterway, Lake Boca and the Boca Inlet this exclusive waterfront community is a non-gated intimate neighborhood with a breathtaking tropical landscape and beach area surroundings. This community has a rich history and it is the oldest luxury community in Boca Raton.
Condos in Boca Raton
So far we talked about luxurious homes with exquisite features and some of the best locations, but condos in Boca are not far behind in terms of their exclusive feel and waterfront placement.
Top end condominiums in Boca Raton come in a high floor center stack also known as skyrises, that can offer the most beautiful intracoastal/ocean views as well as spectacular city views. The elevator takes you directly to one of the most spacious homes with high ceilings, large closets, marbled floors and baths, detailed walls with floor to ceiling glass providing the most beautiful waterfront views.
Renting is also worth considering since Boca Raton is a city with high touristic potential. People who plan to stay for a short period of time or even for someone who plans to relocate in Boca a rental might be the best option. Maybe having to rent for a while until you settle down and find a good place to buy a home is the best option. If you never rented before it might be a new experience and there are some things you need to know about your first rental apartment to get the best deal.
With the average rent being close to $2,000, you can expect to find apartments for rent anywhere between $1,000 to over $2,000 per month.
Boca Raton housing trends for 2021
Because the state of Florida benefits from a low unemployment rate, lower than the national average, it is more likely that residents would go on the housing market as homebuyers looking to purchase their first home. Boca Raton has a well developed real estate market. The state doesn’t perceive any income taxes, and because of the tropical location, most of these buyers might find their dream home in Boca.
Real estate market trends in 2020 show a rapid increase in home prices, and more people are interested in becoming homeowners in Boca Raton. Over the past 2 years, the high growth in median home price and housing demand indicates a fast-growing trend in 2021. However, companies in the area tend to pay with cash, causing home prices to drop slightly to receive a faster sale, pushing the demand even further.
Lower interest rates are pushing more homebuyers to close their first home transaction out of fear of a real estate crash. Also, homeowners prefer to sell their property for cash, which has stopped many people from borrowing against their homes.
Today, Zillow points to a median home value of about $365,000 at the end of the year 2020 in Boca Raton FL. Even though the housing market in many areas suffered because of the pandemic, trends are still going up for Boca Raton. Home prices started increasing sharply towards the end of 2020, and the trend indicates that things are going upwards.
Without question, the city of Boca Raton offers an impressive landscape both in terms of views and housing. The sprawling community offers some of the top living conditions you can find in the state, and there is something for everyone in the area.
Is Boca Raton perfect? Certainly not, but just like any other cities there are advantages and disadvantages. However, the city is as close to perfect as you can get, since the benefits of living in Boca Raton FL outweigh the cons.
Boca Raton’s homes live up to the city’s standards and are far from ordinary or casual. Homes here reflect the high living standards as you can find anything from luxurious estates and mansions to waterfront properties and houses with unique architecture.
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