North Boca Raton Waterfront Homes for Sale
North of Spanish River Boulevard, east of Federal Highway, three small waterfront neighborhoods sit almost against the Delray Beach line: Bel Marra, Caribbean Keys and Boca Bay Colony. Together they are a few hundred houses on canals and Intracoastal frontage, and they trade very differently from one another despite sitting within a mile of each other.
Bel Marra runs on an alphabetical street series · Appleby, Berkeley, Coventry, Dover, Enfield and Forsyth. Caribbean Keys uses Havana Drive, Nassau Drive, Rico Drive and Coastal Drive. Boca Bay Colony is Boca Bay Colony Drive, Bay Isle Drive, Bay Cove Court and the Orchid Bay streets.
The market right now
A snapshot taken November 2, 2026. Houses only · the vacant land listing is discussed separately below, because including it would distort every average on this page. Figures are rounded and move with the market.
| Neighborhood | On the market | Asking range | Closed, 12 months | Asking per sq ft |
|---|
| Bel Marra | Four | From about $2.6 million up to about $6.5 million | Eleven | Around $940 |
| Caribbean Keys | Three | From about $2.2 million up to about $6 million | Six | Around $1,100 |
| Boca Bay Colony | One | In the low $5 millions | Seven | Around $1,090 |
| All three | Eight | From about $2.2 million upward | Twenty-five | Around $1,000 |
Two more homes are under contract as of this date, on Coventry Street in Bel Marra and Orchid Bay Drive in Boca Bay Colony. Over a twenty-four month window the three neighborhoods produced thirty-four closings at around $990 per square foot, so the pace is steady rather than spiky.
A note on the closed figures. The MLS feed behind this page reports the asking price attached to a closed listing, not the recorded sale price. The closed numbers here tell you what homes that sold were asking. For what a specific house actually sold for, ask and I will pull the public record.
What the numbers actually mean
Only eight houses are for sale across three neighborhoods
Twenty-five closings in twelve months against eight listings today. Inventory here is genuinely tight, and a buyer who wants a specific street should expect to wait rather than choose.
Bel Marra is running as two separate markets under one name
This is the detail worth understanding before you look at an average. Of Bel Marra's eleven closings in the past twelve months, six were in the $1 millions, at around $700 per square foot, on houses built between 1960 and 1976. Those are not really house sales. They are lot sales.
Meanwhile the only two Bel Marra listings at the top of the neighborhood today are new construction on Enfield Street, both asking in the mid $6 millions. Between the mid $3 millions and that level there is currently nothing at all. Same streets, roughly a four-and-a-half times spread, and an empty middle. Bel Marra's older stock is the feedstock for the builders selling at the top of the same neighborhood.
The premium is in the dirt, not the finishes
Asking price per square foot across the three neighborhoods is remarkably flat · around $940 in Bel Marra, $1,090 in Boca Bay Colony, $1,100 in Caribbean Keys. That is a narrow band for neighborhoods whose average prices differ by more than two and a half times. What Boca Bay Colony and Caribbean Keys command is paid for water frontage and lot position, not for better houses.
One vacant parcel is priced above every house here combined
A vacant waterfront parcel on Havana Drive in Caribbean Keys is listed in the tens of millions, against a top improved-home asking price in the mid $6 millions across all three neighborhoods. Land assembly on protected Intracoastal frontage is its own market with its own buyers, and it should not be read as a benchmark for house values nearby.
Original stock runs 1960 to 1983
Current and recent inventory spans 1960 to 2026, with the older group built between 1960 and 1983 and the rebuilds dated 2016, 2021, 2025 and 2026. If you are buying an original house here, assume you are buying it for the land and the water unless an inspection tells you otherwise.
Before you write an offer here
- Decide early whether you are buying a house or a lot. In Bel Marra particularly, the lower trades are land. Paying house money for a teardown is the most common mistake in this pocket.
- Verify the seawall. Age, condition, cap, and any permit history. On 1960s-era waterfront this is frequently the largest unbudgeted cost after closing.
- Confirm dock rights and water depth separately from the listing. Frontage on a plat does not guarantee usable dockage for your vessel.
- Check the subdivision tag against the actual street. A handful of listings in this area carry a subdivision name that does not match their street. Confirm which neighborhood a property is genuinely in before you compare it to anything.
- Price flood insurance before the inspection period ends, not after. Quotes on this stretch vary widely by elevation certificate.
- If you intend to rebuild, confirm the build envelope with the City of Boca Raton first. Setbacks and height limits govern what the lot is actually worth to you.
Frequently asked questions
Which north Boca Raton neighborhoods are actually on the water?
Bel Marra, Caribbean Keys and Boca Bay Colony all have canal or Intracoastal frontage, in the stretch north of Spanish River Boulevard and east of Federal Highway, close to the Delray Beach line. Frontage varies lot by lot within each.
How much inventory is usually available in these three neighborhoods?
As of November 2, 2026 there were eight houses for sale across all three, with two more under contract, against twenty-five closings in the previous twelve months. Availability is consistently thin.
Why is Bel Marra cheaper per square foot than Caribbean Keys?
Largely because more of what sells in Bel Marra is original 1960s and 1970s housing trading at land value. Its asking price per square foot, around $940, is not far off its neighbors. The gap in average price reflects what is selling, not a difference in quality.
Is Bel Marra spelled differently in the MLS?
Yes. It appears both as Bel Marra and as Bel-Marra, and a search that uses only one spelling will silently miss listings. The search on this page covers both.
What does new construction cost in north Boca Raton waterfront?
The newest houses on the market here, on Enfield Street in Bel Marra, are asking in the mid $6 millions as of November 2, 2026. There is currently no new-construction inventory between that level and the mid $3 millions.
How close are these neighborhoods to Delray Beach?
They sit at the northern edge of Boca Raton, within a short drive of the Delray Beach city line, which makes them a practical option for buyers who want downtown Delray access without Delray pricing on the water.
Talk to a broker who works both sides of this line
Damara Cohn is the founder and broker of Mangrove Realty, a boutique luxury brokerage in Delray Beach, with 25+ years in the business and over 35 years in Florida. These three neighborhoods sit exactly on the Boca-Delray boundary she works daily.
Email: brokerdelray@gmail.com · Office: (561) 637-4559
See also: Boca Raton homes for sale · Royal Palm Yacht and Country Club · All coastal neighborhoods
