Asking dollar volume for signed contracts in Palm Beach County surged last week, rallying to a late summer high.
Buyers signed 18 contracts between Aug. 11 and Aug. 17 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 totaled $117.8 million in asking volume and averaged 111 days on the market. That’s up from $71.5 million in asking volume for 10 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 47 new listings, and a total of 1,004 active listings on the market.
Sixteen single-family homes and two condos found buyers last week. The condos that went pending are asking an average of $4.3 million, or $1,613 per square foot, and spent an average of 73 days on the market.
The single-family homes totaled $109.3 million in asking volume and averaged 150 days on the market. The average asking price works out to $6.8 million.
The priciest home to find a buyer is the 9,000-square-foot waterfront mansion at 311 East Key Palm Road in Boca Raton, asking $17.8 million. Records show the seller of the Royal Palm Yacht & Country Club home is Derek Ettinger. Records show he bought the home for $12 million in 2021. It was built in 2015 on 0.5-acres and includes six bedrooms, eight bathrooms, two half-bathrooms, a pool and a dock, according to property records.
Ettinger listed it for $17.8 million in February, Zillow shows. David Roberts with Royal Palm Properties has the listing.
The next most expensive home to go pending is the 7,700-square-foot waterfront home at 989 Marble Way in Boca Raton, asking $14.5 million. Records show the sellers are Lawrence and Ivy Freedman, who bought the home for $11.9 million last year. The house was built last year on 0.3 acres, according to property records. It has five bedrooms, five bathrooms, two half-bathrooms, a pool, a dock and 119 feet of waterfront, records and the listing show.
The couple listed it for $17.9 million last year, and dropped the price four times, according to Redfin. Nicholas Gonzalez and Matthew Moser with Serhant have the listing.
