A Boca Raton home in the Royal Palm Yacht & Country Club and a Palm Beach townhouse previously owned by a late Hearst executive were the top luxury properties to go under contract in Palm Beach County last week.
Between September 8 and September 14, buyers signed 11 contracts for homes listed at $3 million or more, according to Douglas Elliman’s Eklund-Gomes team. The total asking price for these properties reached $53.6 million, with an average of 98 days on the market. This represents a decrease from the previous week, when 10 homes had a combined asking price of $84 million.
The report tracks single-family homes and condos listed in the Beaches MLS. Last week saw 52 new listings, bringing active inventory to 1,006 properties.
Of the contracts signed, nine were for single-family homes and two were for condos. The condos that went pending averaged $8.9 million in asking price, or about $1,475 per square foot, after spending an average of 115 days on the market.
Single-family homes accounted for $44.7 million in total asking price volume and averaged 80 days on the market. The average asking price was approximately $5 million.
The highest-priced home to go under contract was a 6,200-square-foot house at 2352 Acorn Palm Road in Boca Raton’s Royal Palm Yacht & Country Club, listed at $7.5 million. Lawrence and Nancy Reid purchased it for $4.9 million in 2021. Built in 2019 on a third of an acre, it features five bedrooms, five bathrooms, two half-bathrooms and a pool. It was initially listed at $8.5 million in February but underwent three price reductions before going pending with David Roberts of Royal Palm Properties as the listing agent.
The second most expensive property was a townhouse at 217 Everglade Avenue in Palm Beach, listed at $7.3 million. The seller is the estate of Gilbert C. Maurer, former chief operating officer of Hearst who died in April. Maurer bought the property for $1.1 million in 1995; it was built that same year and has five bedrooms, five bathrooms, one half-bathroom and a pool according to records. The townhouse went pending just three days after being listed on September 5 with Paulette and Dana Koch of Corcoran Group handling the listing.
