The total asking dollar volume for luxury homes under contract in Palm Beach County increased last week, reaching nearly $118 million. According to a report from Douglas Elliman’s Eklund-Gomes team, 18 contracts were signed between August 11 and August 17 for properties priced at $3 million or more. This marks a significant rise from the previous week, when buyers signed contracts totaling $71.5 million across 10 homes.
The Eklund-Gomes team’s data tracks single-family homes and condos listed on the Beaches MLS with asking prices of at least $3 million. Last week saw 47 new listings added, bringing the number of active listings to 1,004.
Of the properties that went under contract last week, there were sixteen single-family homes and two condos. The pending condos averaged an asking price of $4.3 million, or about $1,613 per square foot, and spent an average of 73 days on the market before finding buyers.
Single-family homes accounted for $109.3 million in total asking volume and stayed on the market for an average of 150 days before going under contract. The average asking price among these houses was approximately $6.8 million.
The most expensive property to find a buyer was a waterfront mansion located at 311 East Key Palm Road in Boca Raton with an asking price of $17.8 million. Public records indicate that Derek Ettinger is selling this Royal Palm Yacht & Country Club home after purchasing it for $12 million in 2021. Built in 2015 on half an acre, the house has six bedrooms, eight bathrooms, two half-bathrooms, a pool and a dock. David Roberts with Royal Palm Properties is handling the listing.
Another notable deal involved a waterfront residence at 989 Marble Way in Boca Raton listed for $14.5 million by sellers Lawrence and Ivy Freedman; they bought it last year for $11.9 million after its construction on a third-acre lot was completed in 2023. The home features five bedrooms, five bathrooms, two half-bathrooms, as well as a pool and dock with access to 119 feet of waterfrontage according to public records and listing details provided by Nicholas Gonzalez and Matthew Moser with Serhant.
