A home in Boca Raton’s Royal Palm Yacht & Country Club and a Palm Beach townhome previously owned by the late Hearst executive Gilbert C. Maurer were the highest-priced properties to go under contract last week in Palm Beach County.
According to a report from Douglas Elliman’s Eklund-Gomes team, buyers signed 11 contracts for luxury homes between September 8 and September 14. The total asking dollar volume for these contracts was $53.6 million, with properties averaging 98 days on the market. This is a decrease from the previous week, when 10 homes went pending with an $84 million total asking price.
The report tracks signed contracts for single-family homes and condos listed at $3 million or more in the Beaches MLS. It noted there were 52 new listings during the week, bringing active listings to a total of 1,006.
Of the properties that found buyers last week, nine were single-family homes and two were condos. The condos that went pending had an average asking price of $8.9 million, or $1,475 per square foot, and spent about 115 days on the market.
Single-family homes accounted for $44.7 million in asking dollar volume and averaged 80 days on the market. The average asking price among these houses was approximately $5 million.
The most expensive property 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. The home was listed at $7.5 million by Lawrence and Nancy Reid, who 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. The couple initially listed it for $8.5 million in February before reducing the price three times according to Zillow data. David Roberts with Royal Palm Properties holds the listing.
The second-highest priced contract was for a townhouse at 217 Everglade Avenue in Palm Beach, which was owned by Gilbert C. Maurer’s estate following his death in April. Maurer served as chief operating officer of Hearst and bought the property for $1.1 million in 1995 according to public records; it was built that same year and includes five bedrooms, five bathrooms, one half-bathroom, and a pool. Listed at $7.3 million on September 5th with Paulette and Dana Koch of Corcoran Group as agents, it went under contract just three days later.
