An attorney’s Palm Beach townhouse with an asking price of $12.9 million led luxury home contracts in Palm Beach County last week, according to a market report from Douglas Elliman’s Eklund-Gomes team.
Between September 29 and October 5, buyers signed 13 contracts for luxury properties in the county. The combined asking dollar volume for these pending homes reached $71.5 million, with an average of 263 days on the market. This represents a decrease from the previous week, when 19 homes totaled $132.9 million in asking volume.
The Eklund-Gomes report tracks signed contracts for single-family homes and condos listed at $3 million or more in the Beaches MLS. During the same period, there were 61 new listings and a total of 1,046 active listings on the market.
Of last week’s pending deals, 12 were single-family homes and one was a condo. The condo is listed at $3.4 million ($1,311 per square foot) and spent 414 days on the market before going under contract.
Single-family homes accounted for $68.1 million in asking volume and averaged 112 days on the market. The average asking price among these homes was about $5.7 million.
The priciest property to find a buyer was the townhouse at 175 Sunset Avenue in Palm Beach, which has an asking price of $12.9 million. Records show that personal injury attorney Ted Babbitt is selling the four-bedroom, four-and-a-half-bathroom townhouse with a pool; he purchased it for $3 million in 2014. Built in 1990 on a 0.2-acre lot, the home measures about 4,700 square feet.
The listing first appeared at $15.9 million in February but has seen two price reductions since then, according to Zillow data. Chris Leavitt with Douglas Elliman is handling the sale.
The second highest-priced contract was for a newly built spec home at 234 Miramar Way in West Palm Beach, listed at $9 million. The seller is identified as 234 Miramar Acquisition LLC—a Florida entity managed by attorney Francis Lynch—which bought the property for $2.5 million in 2021. The six-bedroom house was constructed this year and includes five bathrooms, one half-bathroom, and a pool.
It went on the market at its current price in April; Simon Isaacs with Simon Isaacs Real Estate holds that listing.
