A waterfront home in Boca Raton topped signed luxury contracts in Palm Beach County last week.
Buyers signed nine contracts between July 21 and July 27 for luxury properties in Palm Beach County, according to a market report from Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week totalled $54.3 million in asking volume and averaged 96 days on market. That’s up from $45.6 million in asking volume for eight homes the previous week.
The team’s report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 36 new listings, and a total of 1,033 active listings on the market.
Six single-family homes and three condos went into contract last week. The condos that found buyers had an average asking price of $5.3 million and spent an average of 19 days on market. The average asking price per square foot works out to $1,596.
Combined, the single-family homes total $38.4 million in asking volume and averaged 138 days on the market. The average asking price equated to $6.4 million.
The most expensive home to find a buyer was the 7,300-square-foot waterfront home at 485 Northeast Spanish Trail in Boca Raton. Records show the seller is investor Pranav Arora. He bought the home for $8 million in 2022, according to property records. It was built in 2007 on 0.3 acres, and has five bedrooms, seven bathrooms, one half-bathroom, a pool and a dock.
It was listed for $12 million in November, Zillow shows. Nicholas Gonzalez and Matthew John Moser with Serhant have the listing.
The second most-expensive property that went pending was unit 501 in the to-be-completed Ritz-Carlton Residences, Palm Beach Gardens. Asking $9.3 million, the unit will have four bedrooms, four bathrooms and one half-bathroom when completed. Dan Catalfumo’s Catalfumo Companies is building the 14-acre, 106-unit condo project, which is slated to finish in 2026. Catalfumo scored a $340 million construction loan in 2023. The complex will have a pool, fitness center, spa facilities, guest suites and a 29-slip marina when it is completed, according to the listing.
David Shalkop and Julie Nelson with Douglas Elliman had the listing.
