Two properties in Boca Raton’s Royal Palm Yacht & Country Club led luxury home contracts in Palm Beach County last week. According to a report from Douglas Elliman’s Eklund-Gomes team, buyers signed 10 contracts for homes asking $3 million or more between Aug. 4 and Aug. 10. The total asking volume reached $71.5 million, with an average of 78 days on the market for these listings.
The number of contracts was up by one compared to the previous week, though the total asking volume decreased from $78 million.
The Eklund-Gomes team tracks signed contracts for single-family homes and condos listed at $3 million or higher in the Beaches MLS. Their latest report noted 37 new listings and a total of 1,017 active luxury listings in Palm Beach County.
Out of the 10 properties that went under contract, nine were single-family homes totaling $68.1 million in asking price, with an average time on market of 51 days and an average asking price of $7.6 million. One condo also found a buyer at an asking price of $3.4 million, or about $1,158 per square foot, after spending 105 days on the market.
The most expensive property to go under contract last week was a mansion located at 311 East Key Palm Road in Royal Palm Yacht & Country Club. The waterfront home measures approximately 9,000 square feet and had an asking price of $17.8 million. Records indicate that Derek Ettinger is the seller; he purchased the house for $12 million in 2021. Built in 2015 on half an acre, the property features six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock. The home was listed for sale at its current price in February with David Roberts of Royal Palm Properties representing it.
Another notable transaction involved a nearby residence at 2498 Queen Palm Road within Royal Palm Yacht & Country Club. This six-bedroom home spans about 7,200 square feet and has eight bathrooms plus one half-bathroom and a pool. The property sits on roughly 0.4 acres and is being sold by a land trust that acquired it for $9.1 million in 2022; it was completed last year. Originally listed for $14 million in December, its price dropped to $12.5 million this May before going into contract with Marcy Javor from Signature One Luxury Estates handling the listing.
