Luxury home sales in Palm Beach County increased after Thanksgiving, with a $44 million mansion in Jupiter leading the latest signed contracts. According to Douglas Elliman’s Eklund-Gomes team, 16 contracts for luxury properties were signed between December 1 and December 7. The combined asking price for these properties was $130.6 million, and they spent an average of 70 days on the market.
The week prior saw buyers sign 15 contracts totaling $114.6 million in asking prices. The report from Eklund-Gomes tracks signed contracts for single-family homes and condos listed at $3 million or more in the Beaches MLS system. Last week also brought 61 new listings, bringing active listings to a total of 1,223.
Of the pending deals last week, 14 were single-family homes and two were condos. Condos had an average asking price of $4.1 million at $1,064 per square foot and typically spent one and a half days on the market before going under contract. Single-family homes averaged an asking price of $8.7 million and remained available for about 139 days; their combined dollar volume reached $122.4 million.
The highest-priced property to go under contract was at 118 Bears Club Drive in Jupiter—a nearly three-acre estate featuring a 23,000-square-foot house with seven bedrooms and nine-and-a-half bathrooms. Mark Griffin of The Bear’s Club Sotheby’s International Realty is representing the listing. Property records show that investor Jimmy Mayer leads the company that owns this estate, which was built in 2010. The contract price equals $1,910 per square foot.
Another notable sale includes a four-bedroom house at 253 Jamaica Lane in Palm Beach, which went under contract for $14.8 million or $3,469 per square foot. Margit Brandt of Premier Estate Properties is handling this listing on behalf of a trust managed by attorney Daniel Tighe; this property last sold in 2017 for $5.4 million.
