October 2011: Boca Raton - Oceanfront Real Estate Market Update

Current Oceanfront Homes for Sale in Boca Raton:

On October 16, 2011, there are two homes in Boca Raton listed as Oceanfront.  Here is a pure violation as Boca Harbour is not located on the ocean or near the ocean, but rather on the West side of the Intracoastal Waterway.  I think if 838 NE 70th Street were a true oceanfront home in Boca Raton, we are missing a digit in the price.  Since this home is not on the Ocean, it should be disrerded as oceanfront, but it's up to the listing agent/broker to take care of this violation.
Now 2601 N Ocean Blvd is a real oceanfront home in Boca Raton.  If you ever drive along A1A in Boca, you will notice the lack of homes along the ocean.  There are plenty of condos for sale, but homes are scarce.  Just like Manhattan where there is only so much space, so the best way to develop real estate is in high rises.  This holds true in Boca.  2601 N Ocean is listed for $22 million.  It is decribed as "Clean, Modern, Elegant, Beachfront Smart House.  Priced Fully Turnkey with the latest and greatest technology."
If you are looking for an oceanfront condo in Boca, there is more of a selection.  There are 36 oceanfront condos on the market in Boca that are priced over $1 million.  They range in price from $1,049,250 at the 5 Palms on Palmetto Park Rd all the way up to $15,250,000 for the penthouse apartment at One Thousand Ocean.
There are no oceanfront homes in Boca that have sold over the last six months or are under contract, but there are 3 oceanfront condos in Boca under contract (2 in Addison and 1 in Luxuria) for sale and 18 others have closed during the year.