Luxury home sales in Palm Beach County increased following Thanksgiving, with 16 contracts signed for high-end properties between December 1 and December 7, according to a report from Douglas Elliman’s Eklund-Gomes team. The combined asking price for these pending sales reached $130.6 million, and the homes averaged 70 days on the market.
The previous week saw buyers sign 15 contracts totaling $114.6 million in asking prices. The report covers signed contracts for single-family homes and condominiums listed at $3 million or more on the Beaches MLS. It also noted that there were 61 new listings last week, bringing the total number of active listings to 1,223.
Among the pending properties, 14 were single-family homes and two were condos. The average asking price for the condos was $4.1 million, with an average price per square foot of $1,064. These units spent about one and a half days on the market before going under contract.
Single-family homes had an average asking price of $8.7 million and stayed on the market for an average of 139 days. The total dollar volume for these homes was $122.4 million.
The highest-priced property to find a buyer last week was a nearly three-acre estate at 118 Bears Club Drive in Jupiter. The home measures 23,000 square feet and includes seven bedrooms and nine-and-a-half bathrooms. Mark Griffin of The Bear’s Club Sotheby’s International Realty is representing the listing. According to property records, a company led by investor Jimmy Mayer owns this estate, which was built in 2010. Its contract price is $44 million, or $1,910 per square foot.
Another notable transaction involved a house at 253 Jamaica Lane in Palm Beach. This four-bedroom, five-and-a-half-bathroom residence spans 4,270 square feet and was built in 2016. Margit Brandt of Premier Estate Properties is marketing it for $14.8 million ($3,469 per square foot). The quarter-acre property is owned by a trust managed by attorney Daniel Tighe; it last sold in 2017 for $5.4 million.
