A pair of Palm Beach parcels with a combined asking price of $36.1 million led luxury property contracts in Palm Beach County for the week ending March 22, according to a report released on Mar. 24.
The report, compiled by Douglas Elliman’s Eklund-Gomes team, shows that buyers signed 33 contracts for homes and condos priced at $3 million or more during the period from March 16 to March 22. The total asking dollar volume reached $238.2 million, with properties spending an average of 117 days on the market. This activity marks an increase in contract numbers compared to the previous week, when there were only 21 contracts totaling $255.4 million.
Of last week’s pending sales, there were 19 single-family homes and 14 condos under contract. Condos averaged an asking price of $5.3 million—or about $1,853 per square foot—and spent roughly four months on the market before going under contract. Single-family homes had a higher average asking price at $8.6 million and averaged about three and a half months on the market.
The highest-priced property finding a buyer was a vacant lot at 3 South Lake Trail in Palm Beach, which spans about 0.7 acres and was listed for $24.3 million by Liza Pulitzer with Brown Harris Stevens. The seller is identified as the estate of James Y. Arnold Jr., who was involved in construction before his death last year; records indicate he had owned this land since at least 1977 but do not show its previous sale price.
An adjacent parcel measuring about one-third acre at Chapel Hill Road—owned by Michael Pucillo—was marketed alongside South Lake Trail and is also pending sale with an asking price of $11.8 million according to Zillow listings data.
Another notable transaction involves a newly built mansion at 1422 Southeast Atlantic Drive in Lantana, which found a buyer after being listed for just under $20 million by developer Joe Farrell through Margit Brandt with Premier Estate Properties.
