Luxury home contracts in Palm Beach County saw a significant increase in the week following Zohran Mamdani’s mayoral win in New York City. According to a report from Douglas Elliman’s Eklund-Gomes team, 29 contracts for luxury properties were signed between November 10 and November 16, with a combined asking price total of $235 million. This marks a notable rise compared to the previous week, when only 10 contracts were signed totaling $67.7 million.
The report tracks contracts for single-family homes and condos listed at $3 million or more in the Beaches MLS. Last week, there were 63 new listings and a total of 1,181 active listings on the market.
Of the pending properties last week, 23 were single-family homes with an average asking price of $9.2 million and an average time on market of 74 days. Six condos went under contract with an average asking price of $3.8 million, or about $1,260 per square foot; these spent an average of 136 days on the market.
The most expensive home to find a buyer was a mansion at 16101 Quiet Vista Circle in Stone Creek Ranch, listed at $47.5 million. The seller is Dan Dagesse, chairman of Norwood-based DCD Automotive Holdings, parent company of Nucar—a car dealership network operating over 30 locations across several states including New England and Pennsylvania. Dagesse purchased the property for $2 million in 2018 and completed construction in 2023 with AK Build & Design, Brenner Architectural Group, and Michael Gray Interiors. The property features seven bedrooms, nine bathrooms plus two half-bathrooms, spa facilities, gym, putting green, tennis court, club room with storage space, two-lane bowling alley, and a two-level pool.
Colleen Nouhan with Premier Estate Properties holds the listing for this home.
Another high-value contract involved a waterfront property at 631 Island Drive in Palm Beach that was listed at $37.5 million. Richard and Linda Schaps are recorded as sellers; they bought it for $7.9 million in 2012. Richard Schaps founded Van Wagner Group—an advertising firm that previously sold its billboard division to CBS Outdoor for $690 million in 2014—and now focuses on sports and entertainment advertising at major events like the Olympics and Super Bowl.
Built in 1961 on half an acre with direct water frontage and dock access, this house includes seven bedrooms and seven bathrooms plus three half-bathrooms. Margit Brandt with Premier Estate Properties is handling the listing.
