A newly built mansion in Boca Raton led the list of luxury homes that went under contract in Palm Beach County last week, according to a report from Douglas Elliman’s Eklund-Gomes team. Between October 20 and October 26, buyers signed 14 contracts for properties priced at $3 million or more. The combined asking price for these properties reached $85.1 million, with homes spending an average of 76 days on the market.
This represents a decrease from the previous week, when there were 19 contracts totaling $126.4 million in asking price.
The report tracks both single-family homes and condominiums listed on the Beaches MLS at $3 million or higher. Last week, there were 64 new listings added to the market, bringing the total number of active listings to 1,127.
Out of the contracts signed last week, 10 involved single-family homes while four were condos. Condominiums averaged an asking price of $4.6 million—or $1,827 per square foot—and typically spent about 80 days on the market before going under contract. Single-family homes had an average asking price of $6.7 million and remained on the market for about 71 days.
The most expensive property to find a buyer was an 8,400-square-foot spec mansion located at 17113 Northway Circle in Boca Raton with an asking price of $13.2 million. Records identify David Reich as the seller; he purchased the property for $2.6 million in July and is expected to complete construction early next year. The home features five bedrooms, six bathrooms, and two half-bathrooms.
According to Zillow, it was listed for sale on October 29 and found a buyer just one day later. Mark Nestler and John Poletto from One Sotheby’s International Realty are representing the listing.
The second-highest contract was for a house at 1233 Church Lane in North Palm Beach’s Lost Tree Village community with an asking price of $11.5 million. Seller Pierre Michaud acquired it in 2011 for $1.7 million; built in 1970 on a quarter-acre lot, this home has four bedrooms, four bathrooms, one half-bathroom as well as a pool and dock.
Realtor.com shows it entered the market on October 30 and is being represented by David Reback and John Reback with Reback Realty.
