A home in Boca Raton’s most expensive neighborhood, and the Palm Beach townhome of a late Hearst executive topped luxury contracts in Palm Beach County last week.
Buyers signed 11 contracts between Sept. 8 and Sept. 14 for luxury properties in Palm Beach County, according to a market report from Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $53.6 million in asking dollar volume and averaged 98 days on the market. That’s down from $84 million in asking dollar volume for 10 homes the previous week.
The team’s report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 52 new listings, and a total of 1,006 active listings on the market.
Of the properties that found buyers last week, nine were single-family homes and two were condos. The condos that went pending are asking an average of $8.9 million, or $1,475 per square foot, and spent an average of 115 days on the market.
The single-family homes total $44.7 million in asking dollar volume and averaged 80 days on the market. The average asking price works out to $5 million
The most expensive home to go pending is the 6,200-square-foot house at 2352 Acorn Palm Road in Boca Raton, asking $7.5 million. It is in the gated Royal Palm Yacht & Country Club, Boca Raton’s most expensive neighborhood. Records show the sellers are Lawrence and Nancy Reid, who bought the house for $4.9 million in 2021. Built in 2019 on 0.3 acres, the home has five bedrooms, five bathrooms, two half-bathrooms and a pool.
The couple listed it for $8.5 million in February, and the price was since dropped three times, Zillow shows. David Roberts with Royal Palm Properties has the listing.
The second-priciest home to find a buyer last week is the 3,300-square-foot townhouse at 217 Everglade Avenue in Palm Beach, asking $7.3 million. Records show the seller is the estate of the late Gilbert C. Maurer, the former chief operating officer of media conglomerate Hearst, who died in April. He bought the townhome for $1.1 million in 1995, property records show. It was built that year, and has five bedrooms, five bathrooms, one half-bathroom and a pool, according to property records.
It hit the market on Sept. 5 asking $7.3 million and went pending three days later, Zillow shows. Paulette and Dana Koch with the Corcoran Group have the listing.