Luxury home sales in Palm Beach County saw an increase following Thanksgiving, highlighted by the pending sale of a $44 million mansion in Jupiter. According to Douglas Elliman’s Eklund-Gomes team, 16 contracts for luxury properties were signed between December 1 and December 7. The total asking price for these homes reached $130.6 million, with properties spending an average of 70 days on the market.
The previous week recorded 15 contracts totaling $114.6 million in asking volume.
The Eklund-Gomes report tracks single-family homes and condos listed at $3 million or more on the Beaches MLS. During the same period, there were 61 new listings, bringing active listings to 1,223.
Of the contracts signed last week, 14 were for single-family homes and two for condos. Condos averaged an asking price of $4.1 million ($1,064 per square foot) and spent about one and a half days on the market. Single-family homes averaged $8.7 million in asking price and remained listed for approximately 139 days, with a combined dollar volume of $122.4 million.
The highest-priced property under contract was a nearly three-acre estate at 118 Bears Club Drive in Jupiter. The home spans 23,000 square feet with seven bedrooms and nine-and-a-half bathrooms and is represented by Mark Griffin of The Bear’s Club Sotheby’s International Realty. Records show that investor Jimmy Mayer leads the company that owns this property, which was built in 2010; its price equates to $1,910 per square foot.
Another notable deal was a four-bedroom house at 253 Jamaica Lane in Palm Beach. This property is listed with Margit Brandt of Premier Estate Properties for $14.8 million ($3,469 per square foot). Built in 2016 on a quarter-acre lot and managed by attorney Daniel Tighe through a trust, it previously sold for $5.4 million in 2017.
