The total asking dollar volume for signed contracts in Palm Beach County reached $117.8 million last week, according to a report from Douglas Elliman’s Eklund-Gomes team. This figure represents an increase from the previous week, when buyers signed contracts totaling $71.5 million.
Between August 11 and August 17, buyers signed 18 contracts for luxury properties in the county. The report tracks single-family homes and condos listed at $3 million or more on the Beaches MLS. During this period, there were 47 new listings and a total of 1,004 active listings.
Of the properties that went under contract, 16 were single-family homes and two were condos. The pending condos had an average asking price of $4.3 million, or $1,613 per square foot, and spent an average of 73 days on the market.
Single-family homes accounted for $109.3 million of the total asking volume and averaged 150 days on the market. The average asking price for these homes was $6.8 million.
The most expensive property to find a buyer was a waterfront mansion at 311 East Key Palm Road in Boca Raton, with an asking price of $17.8 million. Property records show Derek Ettinger is the seller; he purchased the home for $12 million in 2021. Built in 2015 on half an acre, it features six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock.
Ettinger listed the property for $17.8 million in February, according to Zillow. David Roberts with Royal Palm Properties holds the listing.
Another notable transaction involved a waterfront home at 989 Marble Way in Boca Raton with an asking price of $14.5 million. Records indicate Lawrence and Ivy Freedman are selling the property after buying it for $11.9 million last year. The house was built last year on 0.3 acres and includes five bedrooms, five bathrooms, two half-bathrooms, a pool, a dock, and 119 feet of waterfront.
The Freedmans initially listed their home for $17.9 million last year but reduced the price four times before finding a buyer; Redfin provides details about these reductions. Nicholas Gonzalez and Matthew Moser with Serhant have this listing.
