A Boca Raton residence in the St. Andrews Country Club community led Palm Beach County’s luxury home contracts last week, according to a report from Douglas Elliman’s Eklund-Gomes team. Between October 6 and October 12, buyers signed 10 contracts for homes and condos priced at $3 million or more, with a combined asking price of $47.6 million. These properties spent an average of 263 days on the market.
The prior week saw 19 signed contracts totaling $71.5 million in asking volume, indicating a decrease in both the number and value of luxury property deals.
The market report tracks activity for single-family homes and condominiums listed at $3 million or above on the Beaches MLS. It also noted 49 new listings last week, with 1,065 active listings currently available.
Of the pending properties, nine were single-family homes and one was a condo. The single-family homes accounted for $41.1 million in total asking price and averaged 91 days on the market, with an average asking price of $4.6 million. The only condo under contract is listed at $6.5 million, or $2,311 per square foot, after being on the market for 541 days.
The highest-priced contract was for a 7,600-square-foot house at 17153 Ericarose Court in Boca Raton, listed at $9.5 million. According to property records, David Kreiss, president of KM2 Solutions based in Palm Beach Gardens, owns the home. He purchased it for $4.7 million in 2020. Built in 1988 on nearly one acre, the house features five bedrooms, seven bathrooms, and a pool. The listing is held by Jeannine Patricia Morris and Blake Benjamin Morris with Lang Realty.
Another notable contract was for unit A2 at One Royal Palm Way in Palm Beach, with an asking price of $6.5 million. Records indicate that the seller is the trust of Elizabeth Bowden; she and her late husband Charles W. Bowden Jr., a real estate developer from Philadelphia, bought the unit for $600,000 in 1994. The condo measures 2,810 square feet with three bedrooms and three bathrooms. It was originally listed for $9.3 million in 2023 and is represented by Dana and Paulette Koch with the Corcoran Group.
