A Boca Raton home in the Royal Palm Yacht & Country Club and a Palm Beach townhouse previously owned by the late Gilbert C. Maurer, former chief operating officer of Hearst, led luxury real estate contracts in Palm Beach County last week.
According to a market report from Douglas Elliman’s Eklund-Gomes team, buyers signed 11 contracts for homes priced at $3 million or more between September 8 and September 14. The total asking dollar volume for these properties reached $53.6 million, with an average of 98 days on the market. This marks a decrease from the previous week, when 10 homes went under contract totaling $84 million in asking price.
The report tracks single-family homes and condos listed on the Beaches MLS. It noted that there were 52 new listings last week, bringing the total number of active listings to 1,006.
Of the pending sales, nine were single-family homes and two were condos. The condos had an average asking price of $8.9 million, or $1,475 per square foot, and spent an average of 115 days on the market.
Single-family homes accounted for $44.7 million in asking volume with an average time on market of 80 days and an average asking price of $5 million.
The highest-priced property to go under contract was a 6,200-square-foot house at 2352 Acorn Palm Road in Boca Raton’s Royal Palm Yacht & Country Club. The property was listed at $7.5 million by Lawrence and Nancy Reid, who 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. The home was initially listed for $8.5 million in February but saw three price reductions before going under contract; David Roberts with Royal Palm Properties holds the listing.
The second most expensive deal involved a townhouse at 217 Everglade Avenue in Palm Beach with an asking price of $7.3 million. The seller is the estate of Gilbert C. Maurer, who acquired the property for $1.1 million in 1995 and passed away earlier this year. Built that same year, the townhouse includes five bedrooms, five bathrooms, one half-bathroom and a pool according to records. It was listed on September 5 and went under contract three days later; Paulette and Dana Koch with Corcoran Group represent the listing.
