An attorney’s Palm Beach townhouse listed at $12.9 million led the luxury property contracts signed in Palm Beach County for the week ending October 5, according to a market report from Douglas Elliman’s Eklund-Gomes team.
Between September 29 and October 5, buyers signed 13 contracts for luxury homes in the county. The total asking price for these pending deals was $71.5 million, with properties averaging 263 days on the market. This represents a decline from the previous week, when there were 19 homes under contract totaling $132.9 million in asking volume.
The report tracks single-family homes and condos listed at $3 million or more in the Beaches MLS. During this period, there were 61 new listings and a total of 1,046 active listings available.
Of last week’s pending contracts, 12 were single-family homes and one was a condo. The condo is listed at $3.4 million ($1,311 per square foot) and had been on the market for 414 days before finding a buyer.
The single-family homes under contract accounted for $68.1 million in asking volume, with an average time on market of 112 days and an average asking price of $5.7 million.
The highest-priced property to go under contract was the townhouse at 175 Sunset Avenue in Palm Beach, owned by personal injury attorney Ted Babbitt. He purchased the four-bedroom, four-and-a-half-bathroom home—measuring about 4,700 square feet—for $3 million in 2014. Built in 1990 on a lot measuring about 0.2 acres, it includes a pool as detailed in public records and listing information.
Originally listed at $15.9 million in February, its price has been reduced twice since then according to Zillow data. Chris Leavitt with Douglas Elliman holds the listing.
The second priciest home to find a buyer last week was a newly built spec house at 234 Miramar Way in West Palm Beach with an asking price of $9 million. Public records indicate that it is owned by 234 Miramar Acquisition LLC—a Florida company managed by attorney Francis Lynch—which acquired the property for $2.5 million in 2021. The six-bedroom house spans about 5,500 square feet and includes five bathrooms plus one half-bathroom and a pool.
This property was first listed for sale at its current asking price back in April according to Zillow records; Simon Isaacs of Simon Isaacs Real Estate is representing it.
