Two homes in Boca Raton’s Royal Palm Yacht & Country Club led the list of signed contracts for luxury properties in Palm Beach County last week. Between August 4 and August 10, buyers signed ten contracts for homes priced at $3 million or more, according to a market report from Douglas Elliman’s Eklund-Gomes team.
The total asking price volume for the pending sales reached $71.5 million, with an average of 78 days on the market. This represents a slight decrease from the previous week, which saw nine contracts totaling $78 million in asking volume.
The Eklund-Gomes team tracks these contracts through the Beaches MLS, covering both single-family homes and condos listed at $3 million or above. The report noted 37 new listings and a total of 1,017 active listings in the county during this period.
Of the properties that went under contract last week, nine were single-family homes and one was a condo. The condo is listed at $3.4 million ($1,158 per square foot) and spent 105 days on the market before finding a buyer.
Single-family homes accounted for $68.1 million in asking volume with an average of 51 days on market. The average asking price among these homes was $7.6 million.
The most expensive home to go under contract last week is located at 311 East Key Palm Road in Boca Raton’s Royal Palm Yacht & Country Club. The mansion measures 9,000 square feet and has an asking price of $17.8 million. Public records show Derek Ettinger as the seller; he purchased the home for $12 million in 2021. Built on half an acre in 2015, it features six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock.
“It hit the market for $17.8 million in February,” Zillow shows. David Roberts with Royal Palm Properties has the listing.
Another notable sale is a home at 2498 Queen Palm Road within Royal Palm Yacht & Country Club. This house spans 7,200 square feet and is listed at $12.5 million by a land trust that acquired it for $9.1 million in 2022. Completed last year on a .4-acre lot, it includes six bedrooms, eight bathrooms, one half-bathroom and a pool.
“It hit the market for $14 million in December and the price dropped to $12.5 million in May,” according to Zillow. Marcy Javor with Signature One Luxury Estates has this listing.
