An attorney’s Palm Beach townhouse listed at $12.9 million led luxury home contracts in Palm Beach County last week, according to a report from Douglas Elliman’s Eklund-Gomes team. Between September 29 and October 5, buyers signed 13 contracts for homes priced at $3 million or more, totaling $71.5 million in asking dollar volume.
The report notes a decrease from the previous week, when 19 homes went under contract with a combined asking price of $132.9 million. The average time on the market for last week’s pending sales was 263 days.
Of the properties that found buyers, 12 were single-family homes and one was a condo. The condo is listed at $3.4 million, or $1,311 per square foot, and spent 414 days on the market before going under contract.
Single-family homes accounted for $68.1 million of the total dollar volume and averaged 112 days on the market. The average asking price among these homes was $5.7 million.
The highest-priced contract was for a townhouse at 175 Sunset Avenue in Palm Beach, listed for $12.9 million. Public records show that Ted Babbitt, a personal injury attorney, bought the property for $3 million in 2014. Built in 1990 on a 0.2-acre lot, the townhouse has four bedrooms, four bathrooms, one half-bathroom and a pool.
The property was initially listed for $15.9 million in February but underwent two price reductions since then, according to Zillow. Chris Leavitt of Douglas Elliman holds the listing.
The second most expensive pending sale is a newly built spec home at 234 Miramar Way in West Palm Beach with an asking price of $9 million. The seller is listed as 234 Miramar Acquisition LLC, managed by attorney Francis Lynch; this entity purchased the land for $2.5 million in 2021. The house spans 5,500 square feet with six bedrooms, five bathrooms, one half-bathroom and a pool.
This home entered the market at its current asking price in April and is represented by Simon Isaacs of Simon Isaacs Real Estate.
