For years the former Oak Tree golf course in west Oakland Park lay fallow. It was anybody’s guess what would become of the land until Pulte presented plans for a new development to the City of Oakland Park. The plan initially called for just over 800 homes. The City Commission did not approve the plan so Pulte went back to the drawing board. They came back with a scaled down version of the development that included just over 400 homes both single family and townhomes. The Oakland Park City Commission approved the new plans and a few weeks later Pulte began clearing and cleaning the land.
Sales At Oak Tree Take Off
In the Summer of 2020, a little less than a year after the plans for Oak Tree were approved, Pulte launched VIP sales. Within days the Oak Tree sales center, temporarily at Pulte’s Parkview sales center in Hollywod, was booked solid with appointments. Within days it was clear that the homes at Oak Tree were a hot item.Within 48 hours 8 homes had sold, 7 of which were on the biggest lots available at the development. At the time of the writing of this article, Oak Tree has reservations on all their available lots and are diligently working toward delivering the houses sold in Phase 1.
Oak Tree's First Family
The family who earned the distinction of closing on the first home at Oak Tree booked an appointment with me and the Pulte Sales representative in late July of 2020. They reserved their homesite and worked on choosing a home. By August they had chosen their home, a Stellar model, and the contract was signed. Building of the home began a few months later at the end of 2020.
An Investment in The Future
When we sat down with the sales representative at Oak Tree, nobody in that room knew that the real estate market would experience such a boom. From the time they signed the contract, which locked in the base price of the home, to the time they closed on the house the base price of went up $199,000 or 34.31% !
Sales At Oak Tree Still Very Strong
The increase in price is in part due to the high demand for single family homes and the overall lack of inventory in South Florida and the country in general. According to a Pulte Sales Rep at the Oak Tree Sales center, the demand is “insane”. At the time of the writing of this article, they were only taking reservations on home sites. That reserves the home site but does not lock in the price. According to the same rep, on the last 3 Estate home lots, which are the largest, they have about 10 reservations. Rumor also has it that the first million dollar sale at Oak Tree was made, but there has been no official confirmation of the same.
Pulte is currently working on delivering the homes in Phase 1 and they expect to launch Phase 2 of Oak Tree homes at end of this year. Pulte will also launch sales at Cassia Estates in Lauderdale Lakes in the summer of 2021 and have put in plans to build townhouses at Plantation Midtown Square.
Demand Drives Pricing of Homes Upward
While some people balk at the prices, pricing at Oak Tree is on par with current marketing pricing. The high demand for the homes at Oak Tree shows that many find the pricing to be quite agreeable and are happy to pay whatever it is in order to own a new house in a central location in Broward County.
Similar new houses are mostly found out west in cities like Parkland, where there is still a lot of new construction. They can also be found at lower prices in other counties, such as Palm Beach County, or in cities, like Westlake which was conceived by and is being built by Minto builders. While these other places offer newer housing at more affordable rates, they do not offer residents the easterly and central location in Broward County that Oak Tree does.
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