Trouble In The Bridges? Massive Number Of Resales Listed

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The BridgesDELRAY BEACH, FL ( — The Bridges, the heavily advertised new luxury community on Lyons Road in Delray Beach, is experiencing a massive surge of resale listings.
The MLS shows 39 homes for sale as of the writing of this article. Nearly half have been on the market long enough to show price reductions. These are homes specifically in The Bridges, not its under construction neighbor, “Seven Bridges.”
Our unscientific review of the listings reveals many of those being listed for resale are in the back half of the community near Florida’s Turnpike. The proximity to the Turnpike — and its noise — did not initially reduce asking prices when the homes were sold as new from GL Homes —  ranging from the mid-7s to over one million dollars. Among those on the market: two furnished models — one at $999,999 and another $1,999,900.
The other homes — mostly in the 3800 to 5000 square foot range — originally sold in the low $8’s. Many are now being listed in the high $9s, but do not appear to be selling near these asking prices.

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