The total asking dollar volume for luxury signed contracts in Palm Beach County increased last week, reaching $117.8 million for the period between August 11 and August 17, according to a market report from Douglas Elliman’s Eklund-Gomes team. This represents an increase from the previous week, when buyers signed $71.5 million worth of contracts.
The report tracks single-family homes and condos listed at $3 million or more in the Beaches MLS. Last week, there were 18 contracts signed—16 for single-family homes and two for condos—with properties averaging 111 days on the market. The new listings numbered 47, bringing active listings to a total of 1,004.
Condos that went under contract had an average asking price of $4.3 million ($1,613 per square foot) and spent an average of 73 days on the market.
Single-family homes accounted for $109.3 million in asking volume with an average asking price of $6.8 million and averaged 150 days on the market.
The most expensive property to find a buyer was a waterfront mansion at 311 East Key Palm Road in Boca Raton, listed at $17.8 million by seller Derek Ettinger, who purchased it for $12 million in 2021. The home is located within the Royal Palm Yacht & Country Club and features six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock.
Another high-priced pending sale was at 989 Marble Way in Boca Raton. The waterfront home is listed at $14.5 million by sellers Lawrence and Ivy Freedman, who bought it last year for $11.9 million. The property includes five bedrooms, five bathrooms, two half-bathrooms, a pool, dock, and 119 feet of waterfront.
