Luxury deal volume in Palm Beach County picked up after Thanksgiving, thanks in part to the pending sale of a $44 million mansion in Jupiter.
Buyers signed 16 contracts between Dec. 1 and Dec. 7 for luxury properties in Palm Beach County, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $130.6 million in asking dollar volume and averaged 70 days on the market.
The previous week, buyers signed 15 contracts totaling $114.6 million in asking dollar volume.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 61 new listings, for a total of 1,223 active listings on the market.
Of the properties that went pending last week, 14 were single-family homes, and two were condos. The average asking price for the condos is $4.1 million and $1,064 per square foot. They spent an average of one and a half days on the market.
The average asking price for the single-family homes is $8.7 million, and the homes spent an average of 139 days on the market. The combined dollar volume of the single-family homes was $122.4 million.
The most-expensive listing to find a buyer last week is the nearly 3-acre property at 118 Bears Club Drive in Jupiter. The 23,000-square-foot, seven-bedroom and nine-and-a-half-bathroom home is on the market with Mark Griffin of The Bear’s Club Sotheby’s International Realty. Property records show a company led by investor Jimmy Mayer owns the Bear’s Club estate. It was built in 2010. The $44 million price amounts to $1,910 per square foot.
The next-priciest home to go under contract is the 4,270-square-foot house at 253 Jamaica Lane in Palm Beach. The four-bedroom, five-and-a-half-bathroom home was built in 2016. It’s on the market with Margit Brandt of Premier Estate Properties for $14.8 million, or $3,469 per square foot. The quarter-acre property is owned by a trust managed by attorney Daniel Tighe. It previously sold in 2017 for $5.4 million.
Read more
Residential
South Florida
Billionaire Greg Mondre finds buyer for Palm Beach teardown asking $40M
Residential
South Florida
Goat Hospitality owners find buyer for $18M Pinecrest estate