At The Fairways, 28 Villas Price Against a Single Comp

On October 8, 2026, unit #25 at The Fairways went on the market at $3,485,000. The listing says the villa is currently leased and that showings are expected to start in November 2026. Whoever ends up negotiating for it will have very little to compare it to. When we searched public MLS records from 2022 through today, we could verify only one closed Fairways sale: unit #13, which sold on January 9, 2026. Other sales may exist outside the feeds we were able to check.

The Fairways has 28 units in small villa clusters along the West Course at Dorado Beach, and it runs under its own condo regime and HOA. With so few owners and so few sales, nobody arrives at a market price by averaging many transactions. Each listing has to find its own price. The last one opened at $4,500,000, sold for $3,600,000, and took seven weeks to get there.

Seven Weeks, Three Prices

Unit #13's sale history in the Stellar MLS shows how fast the price settled once buyers responded:

1. November 22, 2025. Listed at $4,500,000, then cut to $3,999,000 on the same day, an 11.1% reduction before the listing had really started.
2. December 5, 2025. Went pending at $3,999,000, thirteen days after it hit the market.
3. January 9, 2026. Closed at $3,600,000, which was 10% below the pending price and 20% below the original ask.

A buyer went under contract at just under $4 million thirteen days after the listing went live, and the deal closed $399,000 below that. The public record doesn't explain the gap between pending and closing, so it doesn't say whether inspection, appraisal, or negotiation produced the final number.

That closing price now matters well beyond one villa. It is the only closed Fairways sale we could verify that a buyer, a seller, or an appraiser can point to. With one comp in roughly four years of records, you can't draw a defensible price trend for The Fairways, because a trend needs more than one point.

The Comp the Next Buyer Will Hold Up

Here are #13 and #25 next to each other, using each one's MLS data.

Unit #25's total price is $115,000 below #13's sale. Per square foot, it's higher, and how much higher depends on which measurement you use. Unit #25's listing gives both a total figure and an interior figure. Unit #13's record gives a single 3,480 number and doesn't say what it covers. The $1,034 figure from January can sit about $50 or about $150 below #25's ask per foot, depending on how the two are matched up. On a 3,000-square-foot villa, that gap is a real part of the negotiation.

The two homes also differ in ways a per-foot number can't capture. Unit #13 had four bedrooms. It was sold renovated, with new tile, bathrooms, cabinetry, quartzite counters, appliances, and four new mini-split AC units. It also had community and individual cisterns and a golf-cart space. Unit #25 has three bedrooms, one of them a ground-floor en-suite. The primary suite has a covered balcony and a skylit soaking tub. The listing also mentions a concrete roof, two parking spaces, a community backup generator, and water filtration. The furniture is negotiable.

Location inside the community separates the two as well. Unit #13 was marketed as golf-front at the fifth-hole tee box of the West Course. According to the course architect, RTJ II, the West Course closed in 2020 because real-estate development affected some of its holes, and it reopened with relocated greens, new turf, and new bunker technology. The only comp we could verify is a renovated four-bedroom villa on a tee box of a newly renovated course. When you set any other Fairways unit against it, the first step is working out how many of those conditions that unit shares.

What a Lease Does to the Calendar

Unit #25's listing showed three days on market when we checked it, which means the clock started on October 8. The listing expects showings to begin in November, so it will build up days on market before any buyer has walked through it. On its own, the days-on-market figure for this listing won't reflect how buyers are responding.

Leasing shows up regularly in Fairways records. MLS data shows a closed residential lease at another villa in May 2025. A third villa was listed as an active rental, not a sale, when we checked in October 2026. So in a community this small, a unit that comes up for sale may well have a lease in place, and showing access, the closing timeline, and whether the buyer takes the property vacant all follow from the terms of that lease.

The Line Items Behind the Monthly Fee

The two villas in the table pay different dues. Unit #13's dues were $1,386 a month, or $16,632 a year. Its listing names a 24-hour guard, the pool, and grounds maintenance among the HOA inclusions. Unit #25's dues are $1,320. We didn't find a published association schedule that explains the difference, so the association's own documents are where to check how dues are apportioned.

Club access works on a separate track. Unit #13's MLS record has "Membership Fee Required" marked as required. Unit #25's listing on Liz Jones Group words it more loosely: Fairways residents have their own pool, tennis courts, and golf-cart access to the Beach Club, and resort club membership is available "subject to applicable membership requirements." The Dorado Beach club membership page describes a private club with several membership programs. It lists golf, beaches, tennis, fitness, dining, trails, the Beach Club pool, and Spa Botánico among the member amenities, but it doesn't publish costs. As a result, the total monthly cost of owning at The Fairways can't be read off any listing. It comes from the HOA dues plus whatever membership program applies.

Size matters for the association's finances too. Under Puerto Rico's condominium statute, as compiled in 2024 and published on Justia, each annual budget has to set aside at least 5% of the operating budget for a reserve fund, building toward 2% of the property's reconstruction value. The same section treats work costing at least 10% of the operating budget, or work that needs a special apportionment, as extraordinary maintenance with its own approval procedures. Residential improvement works funded without an apportionment generally need approval from two-thirds of owners who also hold two-thirds of the interest in the common areas. In a 28-owner association, those percentages apply to a small budget, and a handful of votes decides any approval. The listings we reviewed don't mention any special assessment or building-wide project, and they don't rule one out either. The association's budget, reserve balance, and meeting minutes are the records that show where things stand.

Questions We Hear About Pricing at The Fairways

Is $3,600,000 "the price" of a Fairways villa? It's the only closed price we could verify in public records from 2022 to date, and it applies to one renovated, four-bedroom, golf-front unit sold in January 2026. That date is more than nine months back now. As a reference point it's useful, but it doesn't set a standard for other units.

Why can't a regular market report settle the question? We didn't find a 2026 report on Dorado Beach condos or townhomes that gives medians, price per foot, or days on market. Even if one existed, its numbers would mix The Fairways in with communities that are priced and governed very differently.

Do the different HOA figures mean the units are in different associations? No. The Fairways runs under a single regime and HOA. The listings show different monthly dues for different units, and the association's documents explain how those amounts are set.

Does buying at The Fairways include the resort club? Public listings describe membership as required in one MLS field and as subject to applicable requirements in another place. The club's own page lists programs but not prices. Getting the specific terms in writing is part of the transaction.

If you're thinking about pricing a Fairways unit or making an offer on one, I'd be glad to go through the #13 history, the association documents, and the club terms with you before the first number goes on paper. Mariangel Marti can help. Let's Connect.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.