Two listings in Palm Beach were the most expensive homes to find buyers in Palm Beach County last week.
Buyers signed eight contracts between July 14 and July 20 for luxury properties in Palm Beach County, according to a market report authored by Douglas Elliman’s Eklund-Gomes team. Last week’s homes under contract total $45.6 million in asking volume, and averaged 212 days on the market. That’s down from $90.3 million in asking volume for 12 homes the previous week.
The report tracks signed contracts for single-family homes and condos asking $3 million and up in the Beaches MLS. It identified 24 new listings, and a total of 1,040 active listings on the market.
Of the properties that went into contract last week, seven are single-family homes and one is a condo. The condo that went pending is asking $3.5 million and spent 245 days on the market. The asking price per square foot works out to $1,158.
Combined, the single-family homes total $42.1 million in asking volume and averaged 178 days on the market. Asking prices average $6 million.
The most expensive listing to land a buyer last week was the 3,300-square-foot home at 236 Pendleton Avenue in Palm Beach, asking $12.2 million. Mortgage documents identify the seller as Bijon Memar, the founder of Medac, a North Augusta, South Carolina-based provider of revenue cycle management and technology services to anesthesia practices in the U.S. Memar bought the home for $5.5 million in 2021, records show. It was built on 0.2 acres in 1948 and has three bedrooms, three bathrooms, one half-bathroom and a pool, according to property records.
It has been on-and-off the market since 2021, asking as much as $15 million, Zillow shows. Todd and Frances Peter with Sotheby’s International Realty have the listing.
The second most expensive home to go pending last week is the nearly 3,800-square-foot house at 217 West Indies Drive in Palm Beach, asking $8.9 million. Records show the seller is the estate of the late William Vanneck. Vanneck was an investor, former board member for Florida East Coast Railway and horse breeder, and died in 2023, his obituary shows. He was the son of late financier and industrialist John Vanneck, who was a partner in Equitable Holdings, a trustee of Dime Savings Bank of New York and a trustee of Union College, according to his obituary. William Vanneck bought his Palm Beach house for $890,000 in 1998, records show. It was built on 0.3 acres in 1962 and has four bedrooms, three bathrooms, one half-bathroom and a pool.It hit the market asking $9.5 million in April, according to Zillow. Donald Todorich with the Corcoran Group has the listing.
