A Boca Raton mansion listed at $23.3 million was the highest-priced property to go under contract in Palm Beach County last week, according to a report from Douglas Elliman’s Eklund-Gomes team. The home is located in the Royal Palm Yacht & Country Club, which is known as the most expensive neighborhood in Boca Raton.
From August 25 to August 31, buyers signed 10 contracts for luxury homes and condos priced at $3 million or more. These pending sales totaled $67 million in asking prices and properties averaged 265 days on the market. This marks a slight increase from the previous week, when 11 homes went under contract with a combined asking price of $64.7 million.
The Eklund-Gomes team tracks these figures through Beaches MLS and reported there were 23 new listings during the week, bringing active inventory to 968 properties.
Of the homes that found buyers last week, eight were single-family residences and two were condos. The condos had an average asking price of $6.8 million, or $1,237 per square foot, and spent about 394 days on the market before going under contract.
Single-family homes accounted for $53.4 million of the total dollar volume and averaged 136 days on market. Their average asking price was approximately $6.7 million.
The top deal involved a 9,200-square-foot house at 212 West Alexander Palm Drive in Boca Raton’s Royal Palm Yacht & Country Club. Property records show it sits on a 0.3-acre lot purchased by a trust for $6.4 million in 2021; the seller built the six-bedroom, eight-bathroom residence with a pool in 2023. It was originally listed for $25 million in 2022, according to Zillow, and Marcy Javor with Signature One Luxury Estates represents the listing.
The second-highest contract was for condo unit 503/504 at 3000 South Ocean Boulevard in Palm Beach, listed at $10 million. Records indicate Perseverance Holdings Trust bought this five-bedroom unit for $5 million in 2018; it features six bathrooms, two half-baths, a library, media room and five parking spaces. The condo was listed for sale at its current price in January with Christian Angle of Christian Angle Real Estate as agent.
