A home in Boca Raton’s Royal Palm Yacht & Country Club and a Palm Beach townhome once owned by the late Hearst executive Gilbert C. Maurer led luxury real estate contracts signed last week in Palm Beach County.
Between September 8 and September 14, buyers agreed to purchase 11 luxury properties, according to Douglas Elliman’s Eklund-Gomes team. The combined asking price for these homes was $53.6 million, with an average of 98 days on the market before going under contract. This is a decrease from the previous week when 10 homes went pending with a total asking volume of $84 million.
The report tracks single-family homes and condos listed at $3 million or more in the Beaches MLS. Last week saw 52 new listings, bringing the number of active listings to 1,006.
Of the properties that found buyers, nine were single-family homes and two were condos. The pending condos had an average asking price of $8.9 million—about $1,475 per square foot—and averaged 115 days on the market.
Single-family homes accounted for $44.7 million in asking dollar volume with an average time on market of 80 days and an average asking price of $5 million.
The most expensive property to go under contract was a house at 2352 Acorn Palm Road in Boca Raton’s gated Royal Palm Yacht & Country Club, listed at $7.5 million. Sellers Lawrence and Nancy Reid purchased it for $4.9 million in 2021. Built in 2019 on a third-acre lot, it features five bedrooms, five bathrooms, two half-bathrooms, and a pool. It was initially listed for $8.5 million in February but had three price reductions before finding a buyer; David Roberts with Royal Palm Properties holds the listing.
The second-highest contract involved a townhouse at 217 Everglade Avenue in Palm Beach, offered at $7.3 million by the estate of Gilbert C. Maurer—the former chief operating officer of Hearst who died earlier this year. Maurer bought the home for $1.1 million in 1995; it has five bedrooms, five bathrooms, one half-bathroom, and a pool according to records from that year when it was built. The property entered the market on September 5 at its current price and went pending after just three days; Paulette and Dana Koch with Corcoran Group are representing the listing.
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