Two properties in Boca Raton’s Royal Palm Yacht & Country Club led the luxury market for signed contracts in Palm Beach County last week. According to a report from Douglas Elliman’s Eklund-Gomes team, buyers signed 10 contracts for homes priced at $3 million or more between August 4 and August 10. The total asking volume for these pending sales reached $71.5 million, with an average of 78 days on the market. This figure is slightly lower than the previous week, when nine homes totaled $78 million in asking volume.
The report monitors signed contracts for single-family homes and condos listed at $3 million or above in the Beaches MLS. It also noted 37 new listings and a total of 1,017 active listings during the period.
Of the contracts signed last week, nine were for single-family homes and one was for a condo. The condo was listed at $3.4 million, or $1,158 per square foot, and spent 105 days on the market.
Single-family home contracts accounted for $68.1 million in asking volume and averaged 51 days on the market. The average asking price among these properties was $7.6 million.
The most expensive home to go under contract was a mansion at 311 East Key Palm Road in Royal Palm Yacht & Country Club, listed at $17.8 million. Records show that Derek Ettinger is the seller; he purchased the property for $12 million in 2021. Built in 2015 on half an acre, this waterfront home has six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock.
The property entered the market with its current asking price of $17.8 million in February, according to Zillow. David Roberts with Royal Palm Properties holds the listing.
Another notable contract involved a house at 2498 Queen Palm Road within Royal Palm Yacht & Country Club. The property spans 7,200 square feet and is listed at $12.5 million by Marcy Javor with Signature One Luxury Estates. A land trust acquired it for $9.1 million in 2022; it was completed last year and features six bedrooms, eight bathrooms, one half-bathroom, and a pool.
This second property was first listed for $14 million in December before its price dropped to $12.5 million in May as reflected on Zillow.
