Two properties in Boca Raton’s Royal Palm Yacht & Country Club led luxury home contracts signed last week in Palm Beach County. According to a report from Douglas Elliman’s Eklund-Gomes team, buyers signed 10 contracts for homes priced at $3 million or more between Aug. 4 and Aug. 10. The total asking volume for these properties reached $71.5 million, with an average of 78 days on the market, which is slightly less than the previous week’s $78 million across nine homes.
The report tracks signed contracts for single-family homes and condos listed on the Beaches MLS at $3 million or above. It noted 37 new listings and a total of 1,017 active listings during the period.
Of the properties that went into contract, nine were single-family homes totaling $68.1 million in asking volume and averaging 51 days on the market. The average asking price was $7.6 million. One condo also found a buyer after spending 105 days on the market; it is listed at $3.4 million, or $1,158 per square foot.
The highest-priced property to go under contract was a mansion at 311 East Key Palm Road in Royal Palm Yacht & Country Club, listed for $17.8 million. Seller Derek Ettinger purchased the home for $12 million in 2021. Built in 2015 on half an acre, the waterfront property spans 9,000 square feet and includes six bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock. The listing has been handled by David Roberts with Royal Palm Properties since February.
Another notable contract was for a house at 2498 Queen Palm Road within the same community. This six-bedroom home measures 7,200 square feet and sits on a 0.4-acre lot. Records show it was acquired by a land trust for $9.1 million in 2022 and completed last year with eight bathrooms, one half-bathroom, and a pool. Initially listed at $14 million in December, its price dropped to $12.5 million in May before going pending; Marcy Javor with Signature One Luxury Estates holds this listing.
